"Aptos Will Takeover Solana In Upcoming Years", BitMEX CEO

Hayes Predicts Aptos Will Outdo Solana & Foresees Dogecoin ETF Launch

The CEO of BitMEX, Arthur Hayes has made some Bold predictions regarding the cryptocurrency market. Hayes in the conversation spoke about Aptos potentially surpassing Solana, the possibility of a Dogecoin ETF, and the most significant danger that has plagued the crypto world, which is the hacking of major custodians. Now it is time to analyze the information he provided.

predictions of BitMEX CEO Arthur Hayes

Arthur Hayes says that Solana is similar to Aptos another Layer-1 blockchain, and he expects that Aptos will overtake Solana to become the second most popular Layer-1 blockchain in the next one to three years. This prediction comes as Hayes aims to provide further details by September 2024.

In addition to his views on Aptos and Solana, Hayes talked about memecoins like Dogecoin. He thinks these coins are like luxury brands in the crypto world and are here to stay. Hayes even foresees the launch of a Dogecoin ETF (Exchange-Traded Fund) by the end of the current market cycle. An ETF would make it easier for people to invest in Dogecoin through traditional financial markets. 

Hayes discussed the evolving landscape of cryptocurrency investments. He pointed out Dogecoin’s presence on popular platforms like Robinhood, making it a strong candidate for such an ETF. Despite his optimism, Hayes noted that many of the current meme coins lack long-term cultural value. One of the most striking points Hayes made was his warning about the biggest risk to the crypto market, the potential hacking of a major crypto custodian. 

Why Hayes Think That Aptos Outdo Solana in Coming Years?

Hayes emphasized Aptos' promising capabilities similar to Solana, in advancing Web3 technologies and addressing real-world challenges through its smart contract programming language move. He believes Aptos could reshape the blockchain landscape, potentially outpacing its competitors as developers and enterprises increasingly adopt its platform.

Warning of Biggest Crypto Risk by Hayes

Hayes also highlighted a major threat for the crypto market which is the risk of a large-scale hack on a major crypto custodian. In Hayes’s view, if a large custodian is compromised, it is possible that billions of dollars worth of digital assets could be wiped out, with the figure ranging between $50 billion and $100 billion. More specifically, such an event could have a great influence on the crypto market and probably put an end to the ongoing market phase. This risk makes it imperative for the industry to seek higher levels of security.

Conclusion

As per CoinGabbar, in the future that Arthur Hayes envisions, crypto will continue to transform and develop, and the current situation is no exception. Hayes’ outlook is something to see whether it's about Solana’s possible takeover by Aptos, the anticipated launch of the Dogecoin ETF, or the ever-present danger of custodial hacks. Even if these projections are true or false, still it's undeniable that the Cryptocurrency market is volatile and very unpredictable.

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