BitMEX Founder: Artificial Intelligence Technology to Greatly Benefit ETH Price

07/29 07:15

Arthur Hayes, co-founder of BitMEX, believes that Ethereum will benefit greatly from AI technology, as it is the most widely used decentralized virtual machine and is the logical base for AI applications to create decentralized autonomous organizations (DAOs) to execute smart contracts. He predicts that tokens issued by AI DAOs will trade on decentralized exchanges (DEXs), mostly those built on top of Ethereum, and that DEXs will trade more than traditional exchanges as DAOs capture more economic value than companies. Hayes estimates that if DEX trading volumes were to reach 20% of traditional stock exchange volumes recorded in 2022, Ethereum could run up to 1,556% from its current price of $1,875 to hit $31,063, and could reach a five-figure price in about half a decade from now.

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