Arthur Hayes, the co-founder of crypto derivatives exchange BitMEX is big-time bullish on Ethereum, saying he wishes he had bought some ETH in the pre-sale when it was sold for about 30 cents in 2014. This week, Ether hit a new all-time high at $2,500. This is a big shift from calling Ether “a double-digit shitcoin,” which, in his favor, he admits to. “One of the best writers in the space. Also the most successful market maker/manipulator,” commented trader and investor Tetranode, who is extremely bullish on Ethereum. “The double-digit shitcoin was just a phase. Soon all will understand the method in the madness,” he added. Ethereum, Hayes goes on to say, though imitating Bitcoin like the majority of the projects does in the crypto space, it “offered a substantial improvement by creating a virtual decentralised computer that greatly expands the potential use cases for the technology underlying Bitcoin.” Hayes’ views on Ether aren’t much different from the likes of Kyle Davies, co-founder of Three Arrows Capital, who revealed on the podcast “TechnicalRoundup” that their fund is “overweight Ethereum.” With their focus on layer one, Davie believes Ethereum is “overlooked” as everyone is focusing on the success of some other layer ones. And while some DeFi projects are moving to other platforms like BSC, “layer two is real.” Though 3AC is invested in some layer two solutions as well, Ethereum is where “a lot of innovation is still happening,” he said. The second-largest cryptocurrency network is the base of the decentralized finance (DeFi) sector, with $60 billion in total value locked (TVL). The goal of the DeFi movement is to have “a peer-to-peer system that moves information from point to point without a centralized, trusted gate keeper,” Hayes said.
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Topic: BitMEX Co-Founder Arthur Hayes Puts Ether Moon Target Above $20,000 (Read 429 times)