The post Arthur Hayes says most L1s outside Ethereum and Solana are headed to zero appeared on BitcoinEthereumNews.com. Key Takeaways Arthur Hayes predicts most layer 1 blockchain tokens will fail except for Ethereum and Solana. He believes initial price surges in new layer 1 projects rarely translate to long-term success. Arthur Hayes, co-founder of crypto derivatives exchange BitMEX, said he expects most layer 1 blockchain coins outside Ethereum and Solana to fail, including Monad, a recently launched layer 1 backed by Coinbase Ventures. “I think pretty much every other L1 besides Ethereum or Solana is a zero,” said Hayes, speaking in an interview with Altcoin Daily. “And they’re not going to do very well.” Hayes predicts Monad’s MON will crash 99% as its valuation is inflated relative to fundamentals, making a deep drawdown likely. “I think it’s going to be another bear chain. It’s going to go down 99% because it’s another high FDV, low-flow piece, VC L1,” he added. MON is trading at approximately $0.037, up 45% from its ICO price of $0.0254, CoinGecko data shows. The coin has achieved a market capitalization of around $398 million. According to Hayes, new L1 projects typically experience an initial price surge, driven by investors hoping to replicate early Ethereum gains. “Every coin gets their first pump. And people want to believe in the new L1 because everybody wants to invest in the new Ethereum, like they would have in 2014 when everyone missed it, me included,” Hayes noted, adding that initial hype doesn’t translate to long-term viability, however. When asked which protocols would make up his “magnificent five” in crypto, Hayes pointed to Ethereum, Solana, Bitcoin, Zcash, and Ethena. According to data tracked by Lookonchain, Hayes accumulated 873,671 ENA this week after selling over $5 million ENA two weeks earlier. He also added ZEC amid the recent price rally. Ethereum stays top choice for institutions, Solana looks for next… The post Arthur Hayes says most L1s outside Ethereum and Solana are headed to zero appeared on BitcoinEthereumNews.com. Key Takeaways Arthur Hayes predicts most layer 1 blockchain tokens will fail except for Ethereum and Solana. He believes initial price surges in new layer 1 projects rarely translate to long-term success. Arthur Hayes, co-founder of crypto derivatives exchange BitMEX, said he expects most layer 1 blockchain coins outside Ethereum and Solana to fail, including Monad, a recently launched layer 1 backed by Coinbase Ventures. “I think pretty much every other L1 besides Ethereum or Solana is a zero,” said Hayes, speaking in an interview with Altcoin Daily. “And they’re not going to do very well.” Hayes predicts Monad’s MON will crash 99% as its valuation is inflated relative to fundamentals, making a deep drawdown likely. “I think it’s going to be another bear chain. It’s going to go down 99% because it’s another high FDV, low-flow piece, VC L1,” he added. MON is trading at approximately $0.037, up 45% from its ICO price of $0.0254, CoinGecko data shows. The coin has achieved a market capitalization of around $398 million. According to Hayes, new L1 projects typically experience an initial price surge, driven by investors hoping to replicate early Ethereum gains. “Every coin gets their first pump. And people want to believe in the new L1 because everybody wants to invest in the new Ethereum, like they would have in 2014 when everyone missed it, me included,” Hayes noted, adding that initial hype doesn’t translate to long-term viability, however. When asked which protocols would make up his “magnificent five” in crypto, Hayes pointed to Ethereum, Solana, Bitcoin, Zcash, and Ethena. According to data tracked by Lookonchain, Hayes accumulated 873,671 ENA this week after selling over $5 million ENA two weeks earlier. He also added ZEC amid the recent price rally. Ethereum stays top choice for institutions, Solana looks for next…