BitMEX founder dumps Solana for Ethereum, forecasts $5,000 per ETH
BitMEX founder Arthur Hayes posted on social media platform X (formerly Twitter) that he has traded his Solana (SOL) holdings for Ethereum (ETH).
Hayes has been a strong proponent of Solana and expects the altcoin to reach $100, but in his recent post says that he has “dumped” Solana for Ethereum. Additionally, BitMEX founder forecasts ETH to hit $5,000 per coin, which would be a new all-time high. In the last bull cycle, ETH touched an all-time high of $4,868 but failed to reach this round psychological level. But considering the current bullish outlook and the chances of an ETF approval for Bitcoin, the chances Ethereum price rises to $5,000 is high.
Cardano on-chain metrics signal ADA holders should tread with caution
Cardano on-chain metrics signal the likelihood of a correction in ADA price as the altcoin’s holders engage in profit-taking. The Ethereum-killer altcoin rallied nearly 74% in the past month, sustaining above $0.61 on Friday, but this rally shows some signs of exhaustion.
According to on-chain data from crypto intelligence tracker Santiment, ADA holders are engaging in profit-taking. Starting December 4, Cardano chain transactions resulted in profits for traders. These profit-taking spikes coincide with an increase in large wallet transactions.
Bitcoin price could climb towards $48,000 target with upcoming US SEC approval on BTC Spot ETF
Bitcoin price sustained above $44,200 on Friday. The largest asset by market capitalization held on to its gains from the week as the market ushers in the report of likely Spot Bitcoin ETF approval by the SEC.
According to a Fox Business report, sources close to the SEC revealed that an approval is likely by January 10, 2024. Fox Business reports that sources close to the SEC unveiled that according to the recent guidance by the US financial regulator, an approval of the Spot Bitcoin ETF is likely by January 10.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Crypto Today: BNB, OKB, BGB tokens rally as BTC, Shiba Inu and Chainlink lead market rebound
Cryptocurrencies sector rose by 0.13% in early European trading on Friday, adding $352 million in aggregate valuation. With BNB, OKB and BGB attracting demand amid intense market volatility, the exchange-based native tokens sector added $1.9 billion.

US SEC may declare XRP a 'commodity' as Ripple settlement talks begins
The US SEC is considering declaring XRP as a commodity in the ongoing settlement talks with Ripple Labs. FOX News reports suggest Ethereum's regulatory status remains a key reference for XRP’s litigation verdict.

Cardano Price Prediction: ADA could hit $0.50 despite high probability of US Fed rate pause
Cardano price stabilized above $0.70 after posting another 5% decline in its 3rd consecutive losing day. Multiple ADA derivatives trading signals are leaning bullish, but the US trade war impact outweighs the positive shift in inflation indices.

Stablecoin regulatory bill receives green light during Banking Committee hearing
The US Senate Banking Committee voted on Thursday to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to establish proper regulations for stablecoin payments in the country.

Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation
Bitcoin price remained constrained within a tight 8% channel between $76,000 and $84,472 this week. With conflicting market catalysts preventing prolonged directional swings, here are key factors that moved BTC prices this week, as well as key indicators to watch in the weeks ahead.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.