Ethereum Price Could Surge to Over $30,000, According to Arthur Hayes
Arthur Hayes, co-founder of BitMEX, has expressed optimism about the potential of artificial intelligence (AI) to significantly boost the price of Ethereum (ETH).
In a recent blog post, Hayes outlined a scenario where AI applications would establish decentralized autonomous organizations (DAOs) to execute smart contracts. He believes that Ethereum is the most suitable platform for such a scenario due to its widespread use as a decentralized virtual machine.
Hayes expects the tokens issued by AI-powered DAOs to be traded on decentralized exchanges (DEXs), particularly those built on top of Ethereum.
He points out that DEXs are well-suited for trading various types of tokens, including equity, debt, utility, and participation tokens.
As DAOs gain more economic value than traditional companies, DEXs will likely see increased trading activity.
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Hayes predicts that this surge in trading volume on Ethereum-based DEXs could potentially drive Ethereum’s price up to $31,063 from its current value of $1,875, representing a remarkable increase of 1,556%.
Hayes speculates that Ethereum could achieve a five-figure price in approximately five years. He acknowledges that this estimation is forward-looking and aims to be directionally correct to profit from the changing narrative around Ethereum’s future prospects.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
