In accordance with Bijié Wǎng, former BitMEX CEO Arthur Hayes has issued a stark warning that most Layer-1 (L1) blockchain projects are structurally unsound and unlikely to survive long-term market cycles. He specifically criticized new L1 tokens like Monad, calling their token models 'insider-driven' and warning of a potential 99% price drop once early investors unlock their tokens. Hayes highlighted Ethereum and Solana as the only two L1 payment systems with sustainable futures, citing Ethereum’s modular architecture and Solana’s high-speed, low-cost model. He also expressed optimism about privacy coins, particularly Zcash, which he added to his family office’s second-largest holding.
Arthur Hayes Warns Most L1 Blockchains Are Structurally Weak, Only Ethereum and Solana Likely to Survive
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