- Arthur Hayes, co-founder of BitMEX, predicts a significant rise in Ether prices due to advancements in artificial intelligence.
- Hayes foresees that tokens issued by AI-driven decentralized autonomous organizations (DAOs) will be traded on decentralized exchanges, primarily on Ethereum-based platforms.
- If this scenario unfolds as predicted, Hayes suggests that Ether could see a 1556% increase, potentially reaching a value of $31,000.
Arthur Hayes, BitMEX co-founder, believes that Ether’s price could surge due to AI advancements. He also predicts that tokens issued by AI-powered DAOs will be traded on decentralized exchanges, mainly on Ethereum-based ones. If this scenario plays out as predicted, Ether could see a 1556% increase, potentially hitting $31,000.
AI Advancements Could Fuel Ether’s Price Surge
Arthur Hayes, a founding partner of BitMEX, one of the leading cryptocurrency exchanges, has made a bold prediction about the future of Ether. He believes that the ongoing advancements in artificial intelligence technology could trigger a significant increase in the price of Ether. Hayes suggests that as AI applications continue to evolve, they could potentially form decentralized autonomous organizations (DAOs) to execute smart contracts.
AI-Powered DAOs and Decentralized Exchanges
Hayes further elaborates on his prediction by suggesting that tokens issued by these AI-driven DAOs will likely be traded on decentralized exchanges, with a significant majority operating on Ethereum-based platforms. He argues that decentralized exchanges (DEXs) are ideally structured to support the trading of any token issued by an AI-backed DAO. As more DAOs raise funds and issue tokens on-chain, a substantial number of these new DAO tokens will be traded on DEXs. As DAOs begin to capture more economic value than traditional companies, DEXs will likely facilitate more transactions than conventional centralized exchanges. Ethereum-based DEXs stand to gain the most from this shift, according to Hayes.
Ether’s Potential Price Surge
Hayes predicts that if his scenario plays out as anticipated, the volume of transactions on DEXs could reach 20% of the volumes recorded on traditional exchanges in 2022. This could potentially lead to a 1556% increase in the price of Ether, taking it from its current value of $1,875 to a staggering $31,000. Hayes, who co-founded BitMEX, the second-largest cryptocurrency after Bitcoin, also predicts that Ether could reach a five-figure price within the next five years. Hayes is known for making price predictions for cryptocurrencies, including Bitcoin. In one of his forecasts in 2019, he predicted that Bitcoin would reach $50,000 within 2 to 5 years.
Conclusion
In conclusion, the future of Ether seems promising, according to Arthur Hayes. The advancements in AI technology and the potential rise of AI-powered DAOs could lead to a significant increase in Ether’s price. If Hayes’ predictions come true, we could see a shift in the cryptocurrency market, with Ethereum-based decentralized exchanges becoming more prominent and Ether’s price potentially reaching new heights.
