BitMEX founder Arthur Hayes is naming an altcoin he thinks will outperform the remainder forward of the upcoming US presidential election.
In a brand new interview on the Unchained YouTube channel, the crypto veteran says he’s inquisitive about buying and selling Ethereum (ETH) rival and sensible contract platform Solana (SOL) as a result of he believes it’s going to soar in worth alongside Bitcoin (BTC).
“Going into the election, I’ll commerce SOL. It’s the excessive beta Bitcoin, so I need the whippy motion, it’s liquid, and I do know it’s going to pump when Bitcoin does effectively — I need to commerce SOL. I don’t need to commerce ETH.”
In line with Hayes, Ethereum is simply too “previous, sluggish, and boring,” thus, he’s turning to Solana as he believes it’s going to outperform each the crypto king and the highest altcoin throughout the subsequent bull market.
“Solana’s obtained the thoughts share, it strikes, it’s excessive beta Bitcoin, and so I truly placed on some small positions. Bitcoin broke out [but] I’m not going to purchase Bitcoin, let me purchase SOL as a result of when the market rotates then it’s gonna outperform.”
Nonetheless, Hayes notes that he’s not going to be promoting any of his lengthy ETH positions to guess on Solana.
“That’s to not say I’m going to be promoting any of my ETH, which has a really lengthy core place in. It’s simply Solana is a greater buying and selling automobile proper now given the thoughts share that it has amongst it.”
Solana is buying and selling for $169.51 at time of writing, a 1.51% dip over the past 24 hours, whereas Ethereum and Bitcoin are valued at $2,502 and $70,749 respectively.
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