BitMEX's Arthur Hayes Predicts Massive ETH Price Jump

Arthur Hayes, the co-founder and former CEO of cryptocurrency exchange BitMEX, is betting big on the price of Ether (ETH). In a Friday Medium blog post, Hayes noted that the cryptocurrency would sell high by the end of 2022.

Timeline of Ethereum

Ethereum's Merge date is days away and the countdown has many people wondering about the fate of layer-2 scaling solutions. You may have noticed Ethereum-associated cryptocurrencies and tokens such as MATIC are up substantially in the last few weeks.

Arthur Hayes, the CEO of a popular cryptocurrency exchange BitMex has set a bullish target for Ethereum price ahead of the Merger. The founder in his blog post said that the second largest crypto may hit $5000 based on triple halving.

BitMEX's founder Arthur Hayes has predicted that Ethereum's (ETH) price could rise to $5,000 if the merge upgrade is successful and the Federal Reserve goes ahead with its pivot. The post Arthur Hayes predicts Ethereum will reach $5K after merge if Fed pivots appeared first on CryptoSlate.

Ethereum (ETH) miners fearing the worst should the network's much-vaunted move to proof-of-stake (PoS) go ahead next month could be thrown a lifeline – with Justin Sun and his Poloniex crypto trading platform stating that they will provide support for a proposed proof-of-work fork (PoW) fork.

While the crypto market is struggling for a bull run, one of the most followed analytics firms, Santiment has come up with its analysis on Ethereum. As per the analysis, there is one factor that can ignite the bullish phase for ETH.

The ethereum casino is a new concept in the online gambling industry. The idea behind it is simple: it allows you to use your ethereum to gamble on different games. The best ethereum casino sites offer a wide range of games, from classic slots and poker to more complex games like roulette and blackjack.

Key data Average number of Ethereum (ETH) transactions per day increased by 15.7% in July. Average Ethereum gas price decreased by 51.4% compared to June. Total number of active wallets increased by 72% in July compared to June. In July, the number of ERC-20 tokens created in the Ethereum network increased by 93.

Crypto analytics firm Santiment is revealing one factor that is likely to foreshadow the start of a bullish phase for Ethereum (ETH). Santiment says that the volume of Ethereum on exchanges has risen and a decline of the same would signal the start of a bullish cycle.

Ethereum (ETH) miners have seen higher revenue than Bitcoin (BTC) miners in 2022, as the crypto community welcomes the second half of the year. Despite the devastating effects of the Crypto winter noticed in the space and the surging cost of electricity, miners of both assets have not relented.

What happened: On Wednesday a total of 1,038.95 Ether (CRYPTO: ETH) worth $1,660,157, based on the current value of Ethereum at time of publication ($1,597.92), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.