Aptos Set to Flip Solana, Says BitMEX’s Arthur Hayes

Solana has been experiencing significant growth and widespread adoption, but BitMEX founder Arthur Hayes has shared his thoughts on a potential shift in the competition among Layer 1 (L1) blockchain networks. 

Hayes, the chief investment officer at Maelstrom, an early-stage crypto investment fund, discussed his views in an interview alongside Real Vision co-founder and CEO Raoul Pal. The conversation covered the current crypto market landscape, potential risks, speculative investments, and year-end predictions.

Hayes highlighted a significant market risk: the collapse of a major crypto custodian due to a devastating hack. He suggested that such an event could potentially end the current bull cycle within the next two to three years.

In a recent interview, Hayes predicted that Aptos could surpass Solana in the L1 blockchain competition within the next few years. Hayes said, “I’ll put this out there on this particular venue, and I’ll qualify it with more information probably later this summer once I get back in the swing of things. Aptos flips Solana in the layer-1 game. I’ll put that out there. I’m not going to say any more than that.”

Solana, since its inception in 2020, has faced several challenges, including network outages and the fallout from the FTX collapse. Despite these hurdles, Solana has gained traction in decentralized finance (DeFi) and other sectors, making experts increasingly optimistic about its future.

Aptos, on the other hand, is a decentralized network and developer ecosystem aiming to lead in DeFi, Web3 gaming, and other industry verticals. The support from the Aptos Foundation, which has partnered with entities like Google Cloud, and the network’s resilience, have fueled positive sentiment within the community.

Hayes also speculated about the meme coin space, particularly Dogecoin, predicting the possibility of a Dogecoin exchange-traded fund (ETF) later this year. While he is optimistic about Dogecoin’s future, bolstered by its listing on Robinhood, he remains skeptical about most other meme coins currently on the market.

Also Read: BitMEX Co-Founder Arthur Hayes Joins Covalent as Strategic Advisor