Key Takeaways
- Arthur Hayes acquired 1,293 ETH worth $2.48 million as three new wallets withdrew another 30,000 ETH.
- Borovik predicted Ethereum could reach $10,000.
- Perplexity said ETH to $12,000 remained possible.
BitMEX co-founder Arthur Hayes has made headlines for acquiring 1,293 Ethereum worth approximately $2.48 million as several other large wallets appeared to increase their exposure.
The transactions came as popular crypto commentator Borovik has gone so far as to predict that ETH could reach $10,000, receiving some pushback from less bullish holders on social media.
However, an analysis from Perplexity AI described $10,000 as a “very bullish” end-of-2026 scenario — and even went further in its prediction.
Arthur Hayes and Whales Buy Ethereum
Lookonchain said on X that Hayes had acquired another multimillion-dollar Ethereum position.
“Arthur Hayes bought 1,293 ETH ($2.48M) an hour ago,” the blockchain analytics platform wrote.
Based on the value reported by Lookonchain, the transaction was completed at an implied average price of approximately $1,918 per ETH.
The purchase marked another change in direction for Hayes, who sold a larger Ethereum position at a loss several weeks earlier.
Hayes had accumulated approximately 5,900 ETH at an average price of around $1,793 before selling 6,000 ETH for approximately $10.14 million when the crypto traded near $1,690.
The round trip produced an estimated loss of approximately $606,000, according to on-chain data reported at the time.
His latest purchase was therefore made at a price roughly 13% higher than his June selling level, prompting some social media users to joke that the transaction should be viewed as a contrarian signal.
However, Hayes was not the only large holder moving Ethereum away from institutional trading platforms.
Lookonchain also highlighted three newly created wallets that withdrew a combined 30,000 ETH, worth approximately $57.66 million, from Coinbase Prime in three separate 10,000-ETH transactions.
“Whales continue accumulating ETH,” the platform said.
Ethereum Bull Predicts ETH Price Will Reach $10,000
The transactions came as Borovik argued that Ethereum’s prolonged downturn may finally be ending.
“ETH is finally making a come back,” he wrote on X.
“After dropping from $4,900 to $1,500, it feels like Ethereum has turned a corner and is well on its way to all time highs,” Borovik added.
“Let’s send ETH to $10,000!!”
Ethereum’s decline from approximately $4,900 to $1,500 represented a fall of more than 69%.
Although its recovery toward $1,920 marked an increase of approximately 28% from that low, the crypto remained more than 60% below the $4,900 level referenced by Borovik.
US spot Ethereum ETFs recorded approximately $96.8 million in net inflows across the three trading sessions through July 15, according to Farside Investors data.
Continued ETF demand could provide a more consistent source of buying pressure than individual whale transactions, although the recent figures remain small compared with the amount of capital required to propel Ethereum toward $10,000.
At that price, Ethereum’s market capitalization would reach approximately $1.2 trillion.
Perplexity AI Reveals Bullish Ethereum Prediction
When asked to assess Ethereum’s upside potential, Perplexity said its strongest realistic bullish target for the end of 2026 was $7,500.
“My own bullish math says $7,500 is the ‘strong bull’ end-2026 case, and $10,000 to $12,000 is possible only if multiple conditions all hit at once,” the AI platform said.
From approximately $1,920, ETH would need to rise by:
- Around 213% to reach $6,000.
- Approximately 317% to reach $8,000.
- About 421% to reach $10,000.
- Roughly 525% to reach $12,000.
Perplexity said Ethereum would also first need to outperform Bitcoin for an extended period.
“ETH has to outperform Bitcoin for a sustained period, not just bounce in a short squeeze,” it said.
The AI platform also said ETF and corporate treasury demand would need to continue absorbing supply.
It added that network upgrades would only support the price if higher throughput translated into increased usage, fees and relevance.
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
