In a striking turn of events, Arthur Hayes, the co-founder of BitMEX, has recently made a public declaration on Twitter following a personal revelation. During a meditation session, Hayes reported receiving a divine message that prompted a significant change in his investment strategy. This revelation advised him to withdraw from the Sam coin Proof-of-Stake (POS) project, commonly associated with former FTX CEO Sam Bankman-Fried's preferred cryptocurrency, Solana (SOL).
Hayes, instead, proclaimed his allegiance to "Archangel Vitalik," referring to Ethereum co-founder Vitalik Buterin. He openly admitted to selling his Solana holdings and reallocating his investments towards Ethereum (ETH). The co-founder went so far as to predict that Ethereum's value would soar to $5,000.
His announcement comes amid notable fluctuations in the cryptocurrency market. Solana, in particular, has displayed remarkable performance recently. Over the previous 24 hours, it registered a 16.1% rise. The week saw Solana climbing by 31%, and the past month witnessed an even more impressive 80.8% surge in its value. Despite these gains, Hayes chose to pivot away from Solana, which recently peaked at $99.12 after hitting a low of $53.71 in the last 30 days.
Simultaneously, Ethereum also showed a modest increase, rising by over 2.6% in the same 24-hour period. As Solana hovers around the $99 mark, eyeing a breakthrough above $100, Ethereum's trajectory remains a point of interest, especially in light of Hayes' endorsement.
This shift by Hayes raises questions about its longevity and underlying strategy. His tweet coincided with significant developments within the Ethereum network. The Ethereum team is actively preparing for the Dencun upgrade, an enhancement aimed at expanding data storage capabilities through a process known as proto-dank sharding. The developers have indicated that January 17 might be the date for Dencun's test run.
Arthur Hayes' unexpected move away from Solana towards Ethereum, prompted by a purported divine message, marks a curious moment in the ever-evolving cryptocurrency landscape.
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