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BitMix co-founder Arthur Hayes predicts that most top-tier blockchains will disappear, arguing that only Ethereum and Solana have the institutional use cases needed to survive in the long term.
In a Nov. 28 appearance on the Altcoin Daily podcast, Hayes said the growing list of alternative networks hasn’t changed his view. The market is still expected to consolidate around a small group of dominant networks.
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Why Hayes Thinks Ethereum and Solana Will Survive
Hayes argued that Ethereum’s role in institutional adoption It is central to its durability.
According to him, investors will use Ethereum to achieve their goals in Web 3, while he expects “a set of key public layers” to be relevant in the coming years.
He said in His statement: “Ethereum, this whole ecosystem will be used by traditional finance to achieve what they want to do in Web 3 … Ethereum is definitely winning and will continue to win.”
He pointed to Solana as another chain with similar power. Hayes cited the network’s recent recovery, though he said the next growth driver is unclear.
According to him, The meme craze for Solana has subsided. The network needs to find “new skills” to fuel its growth.
“Solana needs a new skill. I don’t know what that new skill is, but again, it’s the second biggest of the first class. I think they’ll find something,” Hayes said.
Despite this optimism, Hayes said Solana is unlikely to overtake Ethereum Over time. “Almost every other first layer besides Ethereum or Solana is zero,” he added.
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Remain Ethereum and Solana They are the two largest networks by market capitalization and have attracted Institutional interest from companies such as Franklin Templeton.
The downward view on the Monad
At the same time, Hayes was more skeptical about the monad, which He launched his MON currency And his public network this week.
The project markets itself as a high-performance layer-1 with parallel execution compatible with the Ethereum virtual machine, leading some industry participants to call it “the next Ethereum killer”.
Hayes rejected this description, stating that “almost everything else about L1 except Ethereum or Solana is zero and doesn’t work well.”
Hayes described the Monad coin as “another bear chain” and predicted that “the coin will go down 99% because it’s a piece of high-FTV, low-floater VC fluff.”
Although he admitted to buying some MON coins, he said that early price movements do not translate into lasting value.
“Every coin gets its first push, and people want to believe in the new L1 layer because everyone wants to invest in the new Ethereum like they did in 2014 when they missed it, and so I did,” Hayes explained. “But again, that doesn’t mean it will have any real use cases.”
After that, Hayes said his market thesis remains focused on Bitcoin, Ethereum and Solana, but noted that ZCash and Athena could round out his top five list.
