Can Ethereum Hit $5,000 Before Solana Reaches $300? Arthur Hayes Thinks So!

Ethereum’s price movement has been slow compared to other major cryptos, but BitMEX co-founder Arthur Hayes remains bullish. In a bold prediction, he claims that Ethereum (ETH) will reach $5,000 before Solana (SOL) hits $300. This statement has sparked debates on whether ETH can outperform SOL in the coming months.

ETH to Hit $5k Before SOL hits $300

Ethereum has always been known for its strong fundamentals and vast ecosystem. While Solana has been gaining momentum, Hayes believes Ethereum will hit $5,000 before Solana reaches $300.

A major factor driving Ethereum’s growth is the upcoming Dencun upgrade (EIP-4844), which aims to improve network speed and scalability, making transactions faster and cheaper. This could significantly boost demand for ETH.

Meanwhile, layer-2 solutions could either strengthen Ethereum’s dominance or challenge its base-layer position, depending on how well the ecosystem adapts.

Additionally, the increasing institutional interest in spot Ethereum ETFs is pushing ETH closer to the $5,000 mark.

Overview of Ethereum & Solana Prices

Arthur Hayes’ bold Ethereum prediction comes as ETH faces a slight price dip. Currently, Ethereum is down over 1%, trading around $2,052.

Despite this, ETH recently broke above the $2,069 resistance for the first time in two weeks after bouncing off a key support level last Friday. If ETH fails to hold above $2,069, it could drop toward $1,818. However, a strong breakout could push it toward $2,267. 

Meanwhile, the Relative Strength Index (RSI) is below neutral but trending upward, suggesting bearish momentum is weakening.

Meanwhile, Solana (SOL) has been gaining traction. Its price is up 0.5% today, trading at $139.4. Recent bullish factors have supported its growth, and analysts predict SOL could reach $144 by the end of the month.