BitMEX founder Arthur Hayes announced a cryptocurrency that he thinks will be more successful than other altcoins ahead of the upcoming US presidential elections. Hayes, Solana’s Ethereum 
$2,506It will stand out as an alternative to Bitcoin and 
$69,491 He stated that there will be a parallel price increase.
Interest in Solana
In a recent new interview, Hayes expressed his interest in Solana, an Ethereum rival and smart contract platform. He stated that due to Solana’s liquidity and high correlation with Bitcoin, he plans to trade SOL throughout the election period.
Hayes said he turned to Solana because he thought Ethereum was “old, slow and boring.” He believes Solana will surpass both the crypto king and the largest altcoin in the next bull market. Although the outperformance here is not in terms of market value, it may be in terms of the percentage increase. But what investors need to know is that Hayes made ambitious predictions for many cryptocurrencies and sometimes surprisingly managed to attract the reaction of the community by selling them.
Long Term Positions
Hayes stated that he was not considering selling existing long-term Ethereum positions while investing in Solana. He stated that he has a long-held position in Ethereum and that Solana is a better option among existing trading instruments.
“I will trade SOL as we enter the election period. “I want quick action as Bitcoin is high beta, liquid and I know that when Bitcoin performs well, Solana will rise as well.” –Arthur Hayes
Hayes emphasized that his interest in Solana stems from his belief in the dynamics and future market movements in the crypto market. This year we have seen meme coins on the network attract a lot of attention, pushing the SOL Coin price up, as speed and low fees attract investors.
Arthur Hayes stated that Solana is a more dynamic and liquid trading tool under current market conditions and said that he will continue to maintain long-term positions in Ethereum. This strategy can be important for investors to diversify their portfolios by following market trends.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
