- Arthur Hayes predicts Aptos will flip Solana, and we should expect a dogecoin ETF.
-
In a recent video interview by Coin Bureau, Arthur Hayes, the founder of BitMEX, made several bold predictions and warnings about the cryptocurrency market’s future. Among his forecasts, Hayes predicted that Aptos would surpass Solana in the Layer 1 (L1) competition and become the number two L1 within the next one to three years. “Aptos flips Solana in the layer one game,” Hayes stated.
Arthur Hayes, a prominent figure in the cryptocurrency and Web3 space and co-founder and former CEO of BitMEX, announced he would reveal the reason behind his forecast by September. This prediction will remain relevant for the next two to three years.
Solana, a blockchain platform utilizing a proof-of-stake (PoS) mechanism for smart contract functionality, has been a significant player since its 2020 launch by Solana Labs, founded by Anatoly Yakovenko and Raj Gokal. In 2024, Solana sustained a market cap exceeding $36 billion, becoming a hotspot for viral memes such as BONK, WIF, MYRO, and WEN.
Jupiter, a decentralized swap platform on Solana known for its robust features like DEX aggregation and limit orders, debuted its token this year, managing daily trading volumes exceeding $600 million.
Solana’s ecosystem also saw notable launches from Orca, with a concentrated liquidity AMM solution; Drift, a perpetual trading platform; and Solend, further enhancing its capabilities.
Aptos, another blockchain platform focusing on safety, scalability, and a strong developer ecosystem, uses a PoS mechanism known for its energy efficiency and resistance to centralization.
Designed for high performance, Aptos recently experienced a dramatic surge in transactions, spiking over 1,400% from 3 million on May 23 to 47.18 million on May 26, following the launch of the game Tapos. The project, maintaining a market cap above $2.5 billion in 2024, saw its token price climb to $18, marking a major recovery since its peak above $19 over a year ago.
In other news, the long-awaited Chiliz Dragon8 hard fork has finally gone live after weeks of delays
Major hack, Dogecoin ETF coming.
Hayes also highlighted a critical risk for the cryptocurrency market over the next two to three years. He warned that a major crypto custodian could be hacked, resulting in the loss of $50 billion to $100 billion in cryptocurrencies. According to Hayes, such an event would mark the end of the current cycle.
“The biggest risk in the next 2 to 3 years is that a major crypto custodian is hacked and loses $50 billion to $100 billion in cryptocurrencies,” Hayes explained, highlighting the necessity for stronger security measures in the industry.
In addition to his predictions about the L1 competition and potential risks, Hayes discussed the evolving landscape of memecoins. He expressed skepticism about the long-term cultural value of most current memecoins, with one notable exception: Dogecoin.
Hayes suggested that a Dogecoin ETF might be launched before the end of this cycle, pointing out Dogecoin’s status as the oldest memecoin and its availability on Robinhood in the United States. This, he believes, sets it apart from other memecoins that lack enduring significance.
