Arthur Hayes Predicts Ether.fi to Rise 34x & Ethena to Soar 51x Amid Stablecoin Explosion

Updated

August 29, 2025

Gambar Arthur Hayes Predicts Ether.fi to Rise 34x & Ethena to Soar 51x Amid Stablecoin Explosion

Jakarta, Pintu News – Arthur Hayes, co-founder of BitMEX and a known vocal crypto investor, predicts that two DeFi projects have the potential to experience a tremendous surge in value in the next few years.

In a blog post published on August 27, Hayes estimated that the value of Ether.fi (ETHFI) could increase up to 34 times from its current price, while Ethena (ENA) could potentially increase up to 51 times.

Stablecoins as Growth Drivers

The crux of Arthur Hayes’ argument lies in the rapid growth of stablecoins. According to him, the total supply of US dollar-backed stablecoins could jump from around $273 billion today to $10 trillion by 2028.

This growth will be one of the largest capital shifts in financial history, as investors and institutions increasingly use on-chain dollars for payments, savings, and yield opportunities.

While stablecoins already play an important role in DeFi, Hayes argues that this role will continue to grow. Tokens like ETHFI and ENA, which earn fees or revenue from these activities, have the potential to benefit the most as digital dollars move through decentralized protocols.

Why ETHFI and ENA?

usde stablecoin on the solana network — Source: Coinpedia

ETHFI is connected to Ethereum’s staking and DeFi ecosystem, and is positioned as a usage/spending-focused token. According to Hayes, ETHFI serves as a bridge between native cryptocurrencies and the traditional world of commerce, through its Visa-linked payment card-like integration.

If stablecoins become more widely accepted as a means of payment, ETHFI could potentially see a significant spike in revenue from transactions.

Meanwhile, ENA, which is linked to USDe – Ethena’s synthetic stablecoin – offers a different approach. It uses a delta-neutral strategy in the crypto derivatives market to generate yield.

Hayes sees this as a superior version of a stablecoin because it combines the stability of the dollar with a consistent yield, making it attractive to both retail and institutional investors. If adoption increases rapidly, the ENA token has the opportunity to grow exponentially.

Big Bet on DeFi’s Future

Hayes admits that his predictions are based on bold assumptions, such as mass adoption of stablecoins, scalable DeFi infrastructure, and clear regulation.

However, he argues that the balance between risk and return is very clear, as the potential gains far outweigh the risk of losses – an opportunity he describes as a “once-in-a-century opportunity.”

For Hayes, ETHFI and ENA are not just speculative assets; they represent the future of decentralized finance itself.

If his $10 trillion stablecoin thesis proves correct, then the next wave of crypto growth will likely not come from Bitcoin or Ethereum , but rather from infrastructure that supports the on-chain movement of dollars.

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