The former director of the BitMEX cryptocurrency exchange believes that Ethereum’s transition to the green blockchain can lead to a double growth of the cryptocurrency

In an interview with Bankless, former BitMEX CEO Arthur Hayes allowed Ethereum prices to soar to $ 3000 after the main network of the second largest cryptocurrency switched to the Proof-of-Stake (PoS) consensus algorithm.

In his opinion, the reduction in the number of ETH will be a powerful impetus for the asset’s price growth. The ex-Director of BitMEX, who was convicted of violating US laws, also emphasized the role of the DeFi segment, which often uses the Ethereum network.

Hayes also noted that the growth of the second largest cryptocurrency could have been higher, but it was affected by the collapse of the Terra ecosystem and a number of other cryptocurrency companies since May this year.

As a reminder, ETH developers have confirmed their readiness for the transition, but there are still some problems that may delay the date of the Merger.