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 eager about buying and selling Ethereum (ETH) rival and good contract platform Solana (SOL) as a result of he believes it would bounce in value 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 wish to commerce SOL. I don’t wish to commerce ETH.”
In keeping with Hayes, Ethereum is simply too “previous, sluggish, and boring,” thus, he’s turning to Solana as he believes it would outperform each the crypto king and the highest altcoin in the course of 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 wager 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 last 24 hours, whereas Ethereum and Bitcoin are valued at $2,502 and $70,749 respectively.
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