In a recent podcast, BitMEX cofounder Arthur Hayes predicts most L1s going to zero, with the exception of Ethereum and Solana.
In a recent discussion on “Altcoin Daily,” Hayes said: “I think pretty much every other L1 besides Ethereum or Solana is a zero and they’re not going to do very well.”
Hayes defends his claim, saying that as major banks move into crypto and Web3, he expects them to build on Ethereum, which he sees as essential infrastructure and the main driver of ETH’s next major rally.
On Solana, he praised its meme-coin-driven strength and its position as the second largest L1 but argued it still needs a new growth narrative and will struggle to outperform Ethereum in price.
What of XRP?
Hayes did not touch on XRP in his recent discussion, given his not so favourable stance toward the cryptocurrency. In fact, when he was asked to pick his “magnificent five” for crypto, Hayes mentioned Ethereum, Solana, Bitcoin, Zcash and Athena.
Hayes once hinted that Zcash (ZEC) was a better altcoin than XRP, saying that the former could overtake XRP in market cap at some point.
This aside, the recent claim of most L1s heading to zero by the BitMex cofounder prompts the question of where XRP stands.
Is XRP safe?
Institutional adoption of blockchain-powered finance has grown since the previous year, with tokenized real-world assets (RWAs), stablecoins and decentralized liquidity markets acting as key drivers of growth.
In this light, XRP Ledger (XRPL) is building on its core strengths to create an advanced institutional DeFi ecosystem. Several key capabilities are live, with others on their way, which will support the XRPL as the layer 1 of choice for financial institutions looking to use blockchain in a regulated environment.
Ripple is also working alongside the XRP community to bring native programmability to the XRP Ledger.
Source: https://u.today/all-l1s-to-zero-arthur-hayes-sparks-debate-over-xrps-fate