Arthur Hayes says $ETH is his largest position outside bitcoin:native "ETH is some of the most hated large cap shitcoin out there, the number two largest coin by market cap that has not eclipsed its 2021 all time high" "From a risk reward perspective, at least the way I manage the portfolio at Maelstrom, this is our largest position outside of Bitcoin right now. I'm not particularly worried that if I wake up one morning ETH is going to zero. Obviously it could happen, but the risk of that versus another crypto is much lower, so I'm happy to put a lot of size on this trade" "Because it hasn't moved that much this past cycle, I think it has a lot of catching up to do. Once it starts moving, the reflexive train is going to get going. There are so many people who want to be long ETH for all sorts of reasons, and there are really good reasons why they haven't been for the past few years" "Once we break through the 3000 level, I think you're really going to start seeing the train moving on ETH, and it could quickly eclipse 5,000. My year end target is within reach"