Expectations of a crazy rise for the Ethereum cryptocurrency

Ethereum

The former CEO of BitMEX, Arthur Hayes, spoke about his expectations for the Ethereum cryptocurrency, which is the second largest cryptocurrency by market capitalization, saying that the price of Ethereum is likely to rise to the $5,000 level, after the merger ends and the move to proof of stake is successful.

Arthur Hayes added that if there is no focus to talk about the US Federal Reserve, Ethereum will still be able to recover the $3,500 level, especially since the markets will await the Fed’s decisions on interest, which are scheduled for next September, with the difficulty of pricing this decision by the markets.

The former CEO of BitMEX explained that after the merger, Ethereum will become deflationary, which will make the cryptocurrency more scarce, and the rate of deflation will continue to increase due to the increasing popularity of DeFi applications, which will enhance its gains in the markets.

During today’s trading, the Ethereum digital currency rose by 4.70% and recorded about $1,694.87, with a daily trading volume of $15,363,695,252, bringing the value of Ethereum capital to about $206,499,720,257, and it ranks second among the most popular digital currencies in terms of market value.

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