BlockBeats News, August 21st, Arthur Hayes stated in an interview on Laura Shin's podcast that "ETH is one of the most hated large-cap altcoins in the market. It is the second-largest cryptocurrency by market capitalization, but it has not yet surpassed its all-time high in 2021.

From a risk-return perspective, at least in the way I manage the investment portfolio at Maelstrom, this is currently our largest position outside of Bitcoin. I am not particularly concerned about waking up one morning to find ETH to be worth nothing. Of course, this scenario could happen, but compared to another cryptocurrency, this risk is much lower, so I am willing to allocate a significant portion of our position to this trade.

Because it has not seen a significant increase in this cycle, I believe it still has a lot of room to grow. Once it starts to rise, the self-fulfilling prophecy train will be set in motion. So many people want to go long on ETH for various reasons, and the reasons why they haven't done so in the past few years do make sense."

"Once we break the $3,000 barrier, I think you will really see the ETH train take off, and it could quickly surpass $5,000. My end-of-year target is within reach."