Arthur Hayes Names Ethereum His ‘No. 1 Crypto Pick’, Sees ETH Surging 3X To 5X ‘Pretty Quickly’

Ethereum (ETH) could triple or quadruple in value rather quickly if investors begin buying one of the most unloved large-cap assets in crypto, BitMEX co-founder Arthur Hayes said on Friday.Speaking in an interview with Cointelegraph, Hayes said, “My number one pick right now is Ethereum.” He said ETH offered a better risk-reward opportunity for capital entering crypto than Hyperliquid (HYPE), despite the expectation that HYPE would continue to rise. “I think Ethereum could do, you know, 3 to 5X pretty quickly,” he added.Hayes Bets On Ethereum’s ComebackWhen asked about the factors that were motivating his bullish outlook, he cited Ethereum's relative underperformance since 2021. “Because everybody hates it,” he said. “It’s the one mega-cap crypto that has not eclipsed its 2021 all-time high.”In addition, Hayes spoke about Ethereum’s role as the foundation for decentralized finance and its large developer ecosystem, echoing . However, he said that investors might need to see stronger price action before these fundamentals become the main focus in the market. The recent rise in both Ethereum and Bitcoin (BTC) prices showed that people were waiting to buy, added Hayes. was trading around $2,435, down by 3% in the last 24 hours. On Stocktwits, the retail sentiment around ETH remained in the ‘neutral’ zone, while the chatter dipped to ‘normal’ from ‘high’ levels.Better Risk-Reward Than In ETH Than HYPESpeaking on HYPE, Hayes still thinks HYPE can continue rising but said he sees better opportunities elsewhere, particularly Ethereum.According to him, Hyperliquid had been the best-performing large-cap crypto of the previous cycle, adding that his Maelstrom fund entered HYPE in the low-$30 range and exited around $75. But he said the token doesn’t have the same asymmetry now because “everybody knows that Hyperliquid is here” and expectations are significantly higher now. was trading at $81, down by 1.8% over the previous 24 hours. On Stocktwits, the retail sentiment around HYPE remained in the ‘bullish’ zone, while chatter stayed at ‘extremely high’ levels.He further added that Bitcoin could reach around $1 million in the next four years, a prediction he has been making since last month, given the potential for massive money printing and U.S. yield-curve control.