Arthur Hayes Predicts Most Layer 1 Tokens Will Fail
- Arthur Hayes, co-founder of BitMEX, predicts most layer 1 blockchain tokens will fail except for Ethereum and Solana.
- Hayes believes initial price surges in new layer 1 projects do not lead to long-term success.
- He expects Monad’s MON token to crash by 99% due to inflated valuation relative to fundamentals.
- MON is trading at approximately $0.037, up 45% from its ICO price of $0.0254, with a market capitalization around $398 million.
- Ethereum is seen as the backbone for institutional adoption of web3, with layer 2 solutions like Arbitrum and Optimism aiding scalability.
Arthur Hayes forecasts that most layer 1 blockchain projects will fail, highlighting Ethereum and Solana as exceptions. He specifically predicts a significant decline for Monad’s MON token due to its inflated valuation despite initial price gains.
Source (3.2)https://cryptobriefing.com/layer-1-tokens-ethereum-solana/?rand=59535
