Arthur Hayes Predicts Ethereum Will Surpass Solana in This Bull Market

In a recent interview, Arthur Hayes expressed his belief that Ethereum has a stronger outlook for performance, largely due to its current unpopularity.

When discussing the comparison between Ethereum and Solana, he pointed out that while many criticize Ethereum for not making significant advancements, it still holds the top position in terms of total value locked, developer activity, and security as a proof-of-stake blockchain.

Hayes also acknowledged that Ethereum’s price performance has been underwhelming since 2020, with Solana experiencing a notable surge. However, he stated:

“If I’m going to invest new fiat capital, I believe Ethereum could outperform Solana in the upcoming 18-24 months bull market.”

Ethereum Expected to Surpass Solana

The main focus of Solana has been meme coins, and it performed exceptionally well during the recent hype. Yet, now that the excitement has faded, its activity and revenue have dropped sharply.

Despite the negativity surrounding it, Ethereum continues to be regarded as the benchmark within the DeFi sector, decentralized applications, stablecoins, and the tokenization of real-world assets, maintaining a leading market share across these domains.

Recent statistics show that Solana rose from roughly $100 following a crash on April 7 to over $180 by May 14, before falling back below $165, marking an 80% increase.

In comparison, Ethereum nearly doubled during the same period, rising from a bear market low of $1,400 to just under $2,700 on May 14, before retreating to below $2,400.

While both assets have showcased comparable performance, Ethereum has slightly outperformed Solana over the past six weeks, suggesting that Hayes recognizes its potential for future appreciation.

Future of Bitcoin

When queried about the future trajectory of the cryptocurrency market, Hayes, who holds a portion of his portfolio in gold, predicted a rise in Bitcoin’s market dominance.

“Bitcoin could reach close to $200,000 in this next cycle, after which we may enter an altcoin season with intriguing developments,” he noted, estimating a price target of around $250,000 for Bitcoin by year-end.

In a recent commentary, Hayes articulated that economic pressures on the US dollar could lead Bitcoin’s value to reach seven figures by the decade’s end.

“The return of foreign capital and the devaluation of the substantial US Treasury holdings will drive Bitcoin to $1 million between now and 2028.”

The cryptocurrency experienced a steep decline, losing over $3,500 in a few hours and falling below $103,000 at the time of reporting.