Arthur Hayes: ETH is the largest position outside of Bitcoin, and a break above $3,000 could quickly push it toward $5,000

Odaily reported that Arthur Hayes stated ETH is the largest position in his portfolio outside of Bitcoin. He believes that ETH, as the second-largest crypto asset by market capitalization, has still not surpassed its 2021 all-time high, and its risk of going to zero is lower compared to other crypto assets, thus offering a favorable risk-reward ratio.

Hayes believes that ETH's gains in this cycle have been relatively limited, leaving significant room for a catch-up rally. Once it breaks above $3,000 and forms a reflexive upward trend, the price could quickly rise above $5,000.