BitMEX founder Arthur Hayes has recently predicted that Aptos will overtake Solana in the competition among Layer 1 (L1) blockchains. He expects this shift to occur within one to three years. Hayes shared his thoughts in a video interview. He also plans to provide more details about his prediction in September this year.

Hayes Warns of $100B Custodian Breach Risk in the World of Cryptocurrency

Hayes pointed to the potential threat to the development of cryptocurrencies for the next two to three years. He cautioned that a large custodian and its clients could be breached, and lose between $50 billion and $100 billion in digital assets. The recent market downturn may well be reflected in such an event that may signal a turning point in the current market cycle.

In his interview, Hayes further highlighted why he was confident that Aptos would displace Solana as the second most prominent Layer 1 blockchain. Like Solana, Aptos is a Layer-1 Proof of Stake (PoS) blockchain. It employs Move, a contract-based programming language and has the vision of popularizing Web3. Aptos also aims to enable a variety of decentralized applications (dApps) solving real-world use cases.

Crypto Community Awaits More Insights from Hayes in September 2024

Hayes also discussed memecoins during his interview. He classified memecoins as the “premium segment” of the crypto space while claiming that these assets are now firmly entrenched. He also thinks that by the end of the current market cycle, a Dogecoin ETF could be launched. In addition to this, Hayes also pointed out that Dogecoin is the first memecoin. But he noted that most memecoins that are currently in the market have no timeless relevance.

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Lastly, Arthur Hayes claims that Aptos will displace Solana in the L1 blockchain market within the next couple of years. He also spoke about threats that the cryptocurrency market may encounter and his opinion on the memecoins such as DOGE.  In addition to all the above, the cryptocurrency community will be eagerly waiting for more insights from Hayes which he further promised to release more in September 2024.