{"id":59566,"date":"2022-04-04T12:33:05","date_gmt":"2022-04-04T09:33:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59566"},"modified":"2025-09-04T22:34:19","modified_gmt":"2025-09-04T19:34:19","slug":"bitmex-co-founder-forecasts-ethereum-above-10000-by-the-end-of-2022","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitmex-co-founder-forecasts-ethereum-above-10000-by-the-end-of-2022\/","title":{"rendered":"BitMEX co-founder forecasts Ethereum above $10,000 by the end of 2022"},"content":{"rendered":"

Former BitMEX CEO and co-founder Arthur Hayes explained<\/a> why 2022 would be a pivotal year for Ethereum, and issued a bullish forecast for the cryptocurrency\u2019s price.<\/p>\n

According to the businessman, after the planned summer transition of the network to the Proof-of-Stake<\/a> consensus algorithm, Ethereum will operate as a commodity bond. This would offer more attractive returns relative to other Layer 1 blockchains, which are largely overvalued.<\/p>\n

Bitcoin will remain the ‘star’ of the market, Hayes believes. However, digital gold is ‘sound money’ that, by its own protocol, ‘brings nothing’.<\/p>\n

The former BitMEX head cited Ethereum researcher Justin Drake. According to the latter’s calculations, ETH staker yields after the transition will be 8%\u201311.5% per year.<\/p>\n

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“The Ethereum community has clearly decided that ETH is a trading commodity used to power this computer, not a pure monetary instrument,” Hayes emphasized.<\/p>\n<\/blockquote>\n

He noted that at the start of 2022 his portfolio consisted of BTC and ETH in equal weights. Given the forthcoming changes, Hayes plans to raise the share of the second-largest cryptocurrency in his portfolio to 75%.<\/p>\n

The businessman also believes that the transition to Proof-of-Stake will make Ethereum attractive to traditional asset managers seeking to adhere to sustainable investing principles. The algorithm is regarded as more environmentally friendly than Bitcoin’s energy-intensive Proof-of-Work.<\/p>\n

Hayes highlighted Ethereum’s edge over direct competitors across a range of fundamental metrics.<\/p>\n

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“Ethereum has around 4,000 developers, three times more than Polkadot, which has the second-largest cohort,” he noted.<\/p>\n<\/blockquote>\n

Hayes also pointed to the price-to-address ratio and TVL<\/span>, concluding that the network is cheaper and more efficient than other smart-contract platforms.<\/p>\n

In his view, ‘Ethereum killers’ are still selling investors ‘hopes for a bright future’.<\/p>\n

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“The remainder of 2022 will be the year of ERC-20 angels led by his eminence Vitalik Buterin. Once everything settles by year-end, I believe ETH will be trading above $10,000,” Hayes concluded.<\/p>\n<\/blockquote>\n

Earlier, in February, the businessman pleaded guilty to a single count of violating U.S. law and agreed to pay a $10 million fine.<\/p>\n

In October 2020, the U.S. Department of Justice brought charges under the Bank Secrecy Act against BitMEX co-founders Hayes, Ben Delo, Samuel Reed and Greg Dwyer, head of business development.<\/p>\n","protected":false},"excerpt":{"rendered":"

Former BitMEX CEO and co-founder Arthur Hayes explained why 2022 would be a pivotal year for Ethereum, and issued a bullish forecast for the cryptocurrency’s price.<\/p>\n","protected":false},"author":1,"featured_media":59567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1193,1146,46],"class_list":["post-59566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-arthur-hayes","tag-cryptocurrency-market-forecasts","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=59566"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59566\/revisions"}],"predecessor-version":[{"id":59568,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59566\/revisions\/59568"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/59567"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=59566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=59566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=59566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}