Crypto Shakeup: Aptos Poised to Dethrone Solana, Says BitMEX Co-Founder

BitMEX co-founder Arthur Hayes predicts a major shift in the Layer 1 blockchain landscape, forecasting that Aptos (APT) will surpass Solana (SOL) to become the second-largest platform in the near future. This bold claim follows Aptos’ recent milestone of exceeding Solana in monthly transactions by a significant margin.

It is worth noting that transactions on Aptos surpassed those on Solana in May, setting a new milestone for the blockchain. Notably, Aptos was ahead of Solana by a whopping 57 million transactions.

In a video interview, Hayes estimated a one-to-three-year timeframe for Aptos to overtake Solana, promising further insights in September and “not gonna say anything more than that.”

Hayes also forecasts a Dogecoin (DOGE) exchange-traded fund (ETF) by the end of the current cycle, citing its longevity, large market cap, and availability on Robinhood in the U.S.

Finally, Hayes also shared his views on the reason for this cycle ending, predicting that the biggest risk of this cycle in the next two to three years is that a major crypto custodian is hacked and loses $50 billion to $100 billion in cryptocurrencies, marking the end of the cycle.

Raoul Pal, the co-founder and CEO of Real Vision, was also present in the podcast and revealed that his crypto holding consists of 90% Solana. He also added that he has been observing the BTC-ETH cross. When it breaks higher, it marks the beginning of the “true altcoin season.”

Both Hayes and Pal agree that the “Layer 1 game” will be a significant area of innovation and potential profit in the coming “banana zone” (period of high market activity). They mention other potential contenders like Sui, Celestia, and Monad.

Pal also emphasized the importance of market timing in the mix, particularly during the “banana zone” when opportunities for significant gains arise. He suggests that many of the most promising tokens for this cycle have already started to recover from their lows.