30-5-2025 – Former BitMEX chief executive Arthur Hayes has cast a remarkably optimistic forecast for Ethereum, suggesting the digital currency could achieve unprecedented heights of $5,000 by year’s end, despite its recent lacklustre performance against rivals Bitcoin and Solana.
Speaking at the Bitcoin 2025 conference in Las Vegas, Hayes offered a contrarian perspective, noting that Ethereum’s current status as “the most loathed layer-1” potentially positions it for substantial gains. This assessment arrives amidst Ethereum’s impressive 45% surge over the past month, pushing its value to $2,646.
Investment powerhouse Bernstein has highlighted the growing significance of stablecoins in revitalising their host networks, with Ethereum commanding a dominant 51% share of all minted stablecoin supply. The firm’s analysis particularly emphasises the strategic importance of Robinhood’s acquisition of WonderFi, suggesting potential developments in tokenised equities through Ethereum’s layer-2 infrastructure.
The cryptocurrency’s recent technical advancement, the Pectra upgrade, has catalysed renewed market confidence. This development coincides with Standard Chartered’s bullish outlook, where Geoffrey Kendrick, their Digital Assets chief, projects values of $4,000 by 2025, potentially extending to $7,500 by 2029.
This resurgence follows a period of institutional scrutiny and ecosystem challenges, during which Ethereum co-founder Vitalik Buterin adopted what the development community termed a “wartime” stance, prompting strategic reorganisation within the Ethereum Foundation.
Hayes, who recently predicted Bitcoin could reach $1 million by 2028, suggests Ethereum’s current market position might herald significant outperformance. To achieve the projected $5,000 milestone, surpassing its previous peak of $4,878 from 2021, Ethereum would need to demonstrate an approximate 88% appreciation from current levels.
