BitMEX founder Arthur Hayes recently made surprising predictions about the future of Solana in an interview. He discussed the rivalry between Solana and Ethereum and made a notable forecast: SOL could reach a value between $5,000 and $10,000 in this cycle. Hayes noted that while the recent Ethereum update improved conditions for Layer-2 solutions, the main network remains expensive and congested. Therefore, a gradual shift to new, faster blockchains is conceivable.
The interview took place on March 19 and was published by crypto influencer A. Pompliano on a platform called X, formerly known as Twitter. In addition to discussions about memecoins, Bitcoin Spot ETFs, and other topics, they also debated the rivalry between Solana and Ethereum. Although Ethereum still dominates the DeFi space, Hayes acknowledges that Solana is gaining attractiveness and could be a promising investment.
Hayes' surprising statement was: "Solana is a better version of ETH." He emphasized that SOL could rise to $5,000 to $10,000 in this cycle and recommended buying the coin at $140, as the risk profile is highly asymmetric. While X often features predictions of Solana reaching $1,000 or $1,500, Hayes' words shed new light on the current SOL price.
The incredible @CryptoHayes joins us today.
— Pomp 🌪 (@APompliano) March 18, 2024
- Bitcoin ETFs
- Memecoins
- Death of 60/40 portfolio
- Nation state game theory
- Microstrategy
- ETH vs SOL
- Current portfolio
- His best investment ever
- Bitcoin to $1 million
Full episode on X.
LISTEN: https://t.co/GMHrYbNEn6 pic.twitter.com/EqOQ1NLEiU
External factors seem to favor such a scenario. Solana has successfully surpassed BNB in terms of market capitalization according to Coinmarketcap and secured a spot in the top 3 of the DeFi ranking. Furthermore, the blockchain is gaining increasing interest and search queries, indicating that it could catch up to and even temporarily surpass Ethereum.
While Hayes continues to rely on Ethereum's dominance in the DeFi space, he still recognizes Solana's potential. A migration of DeFi projects from Ethereum to other platforms like Solana is possible, as Ethereum still struggles with network congestion and high gas fees. Hayes highlighted Solana's user-friendliness and interface as particularly noteworthy, emphasizing that these aspects could help the blockchain establish itself against its competitors in this market cycle.
