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Ethereum (ETH) Surges as Arthur Hayes Declares Altcoin Season

Fri, 04/14/2023 - 09:16
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Alex Dovbnya
Arthur Hayes, former BitMEX CEO, recently sparked excitement among crypto enthusiasts as he declared beginning of new altcoin season on Twitter
Ethereum (ETH) Surges as Arthur Hayes Declares Altcoin Season
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Arthur Hayes, former CEO of BitMEX, recently took to Twitter to declare the beginning of another altcoin season. "Allow me to reintroduce myself. My name is ALTSZN!!!" he tweeted.

This came after Ethereum (ETH) experienced a surge in price. The top altcoin peaked at $2,130 on the Bitstamp exchange earlier today.

As reported by U.Today, the Bitcoin (BTC) competitor surpasses $2,000, driven by the successful Shapella upgrade and an unexpected drop in PPI inflation.

The altcoin market saw significant gains over the past 24 hours, with ETH up by 9.4%, Binance's BNB increasing by 4.4%, Cardano (ADA) rising by 9.2% and Dogecoin (DOGE) adding 9.%.

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In another tweet, Hayes shared a photo taken at Victoria Peak, a hill on the western half of Hong Kong Island, with the caption: "With the help of Lord Satoshi, I climbed the peak and threw the bears off the mountain top so that they may experience the wrath of the green doji."

It conveys Hayes' optimism about the cryptocurrency market's positive momentum, particularly for altcoins, amid an ongoing shift to bullish market conditions.

The day before, Hayes tweeted a question regarding the Bitcoin market: "Any theories as to why after an almost 100% pump in $BTC post FTX, perp funding is still negative? What cohort in the market is supplying the marginal sell pressure?" The tweet sparked discussions among crypto enthusiasts trying to decipher the market dynamics behind recent price movements.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at