Here's which cryptocurrency could overtake Solana (SOL) this bull market

Arthur Hayes, co-founder of the BitMEX exchange, made an ambitious prediction about a popular competitor to Ethereum (ETH).

He told Coin Bureau host Jessica Walker during a recent interview that he sees how Apts (APT) will overtake Left (LEFT) during this market cycle.

Hayes believes that Aptos could become the second largest L1 blockchain after Ethereum in terms of market capitalization, surpassing Solana within the next one to three years. He said he would delve into that prediction later in the summer months.

At the time he made his remarks, Aptos was trading at $8.10, down 5.02% in 24 hours, with a market capitalization of $3.54 billion. During the same period, Solana's market capitalization stood at $72 billion, while its price per coin was $155 after a decline of about 3.8%.

Memecoins are here to stay

Hayes also weighed in on the enduring popularity of memecoins and predicted that these assets will continue to be part of the digital currency space. He explained that as more currency is printed, people will increasingly turn to meme cryptocurrencies for salvation.

Hayes also compared consumer behavior in fashion to that of cryptocurrencies, where people queue up for high-end products despite their lack of knowledge of style trends; similarly, they trade in memecoins just because these tokens have become very popular without understanding their use cases or technical details. He stressed that simplicity and connectivity are key factors in the success of memecoins, especially among new entrants to the crypto space who may find other assets too complex or boring to understand at first glance.

According to him, the whole idea behind the memecoin craze stems from people's natural tendency to follow fads and join popular movements, making it an ideal starting point for people who are completely green when it comes to cryptocurrencies.