Arthur Hayes: ETH Will Reach $5,000 by End of Year

Odaily News: In his latest article "Situationship," Arthur Hayes stated that ETH is the most hated and most easily forgotten "junk coin" among large-cap assets on the market. While most of the top 10 junk coins by market cap have already hit new highs, ETH has not even surpassed its 2021 historical high of $5,000. However, in his view, the new narrative now is — enterprise-level RWA chains like Robinhood will all use customizable Ethereum Layer 2 solutions such as Arbitrum. Ethereum will become the security settlement layer for these chains. Therefore, even though the Gas fees directly attributable to Ethereum are relatively small, ETH is the junk coin driving the "tokenization of everything."

Arthur Hayes added: "My rough target price for ETH by the end of 2026 is $5,000, which represents roughly a 2.6x upside from current levels. I like this trade because I can build a fairly substantial position with peace of mind. Its liquidity is also excellent, so even if it takes up a large portion of Maelstrom's portfolio, I can exit my position within minutes. Lastly, I will also sell out-of-the-money put options to earn additional yield, and I am comfortable with the risk — if ETH falls below my strike price, I'll simply buy it at a discount."