Recent statements from Arthur Hayes, co-founder of BitMEX, known for his support of Bitcoin (BTC) and altcoins, have come as a surprise.
Arthur Hayes claimed that Ethereum could fall out of the top three by market capitalization.
In a recent interview, Hayes claimed that Ethereum (ETH) will fall out of the top three cryptocurrencies by market capitalization by 2030.
In contrast, Hayes believes that Ethereum could be replaced by one of the AI-focused altcoins.
At this point, Hayes notes that AI-powered projects like Render Network and Fetch.ai are attracting attention. He also states that the AI-powered crypto sector will grow by 250% in the first half of 2024, compared to Ethereum’s 40% growth, which could change investors’ perceptions of digital asset value.
According to Hayes, if an AI-based altcoin replaces Ethereum, it could lead to ETH investors also turning to AI tokens, redistributing capital within the crypto ecosystem. This, in turn, could increase interest in the AI sector and attract new investors.
*This is not investment advice.
