Ethereum cryptocurrency is predicted to grow to $ 31,000

Arthur Hayes, the former CEO of the BitMEX cryptocurrency exchange, has published an article in which he predicted the future of the main cryptocurrencies, bitcoin and ethereum. According to the analyst, bitcoin has every chance to grow to $ 760,000, and ethereum — to $ 31,063.

The integration of AI projects into the BTC blockchain will dramatically increase the attractiveness of digital currency as a basic asset of the ecosystem. Ethereum should demonstrate a similar development model, Hayes said. If AI-based projects are integrated into ETH $2,394.45 Bridged Ether (StarkGate) -1.59% Market capitalization $0.18 billion VOL. 24 hours $0.25 billion , the investment attractiveness of ethereum will increase dramatically.

According to Hayes, altcoin can rise by 1556% from the price at the time of writing. The co-founder of BitMEX expects ethereum to reach more than $ 31,000 when artificial intelligence becomes an integral part of the blockchain industry.

Another factor that will drive ETH growth will be the expansion of the decentralized finance (DeFi) market. Most of the protocols in this ecosystem are based on ethereum and their popularity continues to grow.

Also, an increase in the number of users of decentralized exchanges (DEX) will lead to an increase in the volume of transactions with ETH, Arthur Hayes emphasized. According to his forecasts, ETH will strengthen over the next five years.

As for the market’s flagship, in early May, Arthur Hayes said that the crisis in the US banking sector could push the ETH rate to $ 1 million. According to Hayes, the Fed either «doesn't realize what it’s doing or it does and is praying that investors don’t realize anything.» In any case, raising rates guarantees the collapse of another bank, Hayes wrote. He suggested that this bank’s loan portfolio would be dominated by illiquid commercial real estate loans.