A promising future awaits ethereum (ETH) to wait, at least according to Arthur Hayes, the founder of crypto exchange BitMEX. He believes that ethereum will benefit significantly from the integration of artificial intelligence (AI), which can lead to a thriving ecosystem. So thriving, he says, could increase the price of ETH tenfold.
Ethereum has a bright future
In a blog Hayes explained how AI-powered decentralized autonomous organizations (DAOs) on Ethereum could bring a new dimension to the crypto industry. DAOs are organizations that function through smart contracts and decentralized decision-making processes, requiring no central authority to function.
These AI DAOs could create and issue their own tokens, which can then be traded on DEXs, especially those built on the Ethereum platform. The decentralized nature of DEXs makes them an ideal place for trading tokens issued by AI-powered DAOs according to Hayes.
The introduction of AI-powered DAOs on Ethereum could lead to a shift in trading volumes from centralized exchanges (CEXs) to DEXs. Hayes foresees that the economic value of DAOs will surpass traditional firms, resulting in a significant increase in activity on the blockchain and ultimately an astronomical rise in the ETH exchange rate.
Will the ETH price explode?
Hayes even predicts a scenario where the price of ether rises by 1,556%, which would mean a value of more than $28,000 for ETH! His optimism is obvious. He also believes that Ethereum could reach at least $10,000 within the next five years.
Of course, there are critics who are skeptical of such predictions, but Hayes believes that as AI-powered DAOs become more widely known, even the most doubtful will see the potential of the Ethereum network.
While Hayes’ predictions are ambitious, the idea of AI-DAOs on Ethereum undoubtedly offers an intriguing glimpse into the future of the crypto world. The merging of artificial intelligence and Ethereum could pave the way to golden times for the blockchain industry