According to Chaincatcher, Arthur Hayes, founder of BitMEX and chief investment officer of Maelstrom, delivered a keynote speech at the Token2049 conference held on September 18, sharing his views on current macroeconomic events.
Hayes said that today is "Fed Day" when the Federal Reserve begins to cut interest rates. He compared ETH to Internet bonds with a pledge rate of about 4%, and believed that as long as the Fed's interest rate cuts lead to the market's expectation that the U.S. Treasury bond rate will be lower than 4%, ETH will become more attractive and is expected to trigger a new round of bull market.
Hayes also pointed out that the Fed’s interest rate cut will reshape the crypto market landscape, and tokens with yields exceeding U.S. Treasuries such as ENA, ETH, ETHFI and PENDLE may become winners, while real world asset (RWA) tokens such as ONDO may become losers.
