Crypto veteran Arthur Hayes thinks the affordability of one Solana (SOL) rival could make it the preferred choice for future initial coin offerings (ICOs).
In a new analysisthe co-founder of BitMEX emphasizes the low transaction costs of the layer-1 blockchain Aptos (APT).
“In 2017, it was not uncommon for a hot ICO to render the Ethereum network unusable. Gas prices would rise and no one would be able to use the network affordably. By 2025, the cost of block space on Ethereum, Solana, Aptos and other Layer-1s will be extremely cheap. Current order throughput is orders of magnitude higher than 2017. If a team can gain a broad base of support from eager speculators, their ability to raise money will not be hampered by a slow and expensive blockchain.
Given the insanely low cost per transaction of using Aptos, there is an opportunity for them to become the chain of choice [for] ICO is launched.
Average transaction costs in $:
- Aptos: $0.0016
- Solana: $0.05
- Ethereum: $5.22″
In June, Hayes predicted that Aptos would overtake Solana at some point in this market cycle.
Aptos’ native token, APT, is trading at $13.25 at the time of writing. The crypto asset ranked 30th by market capitalization has fallen more than 8% in the past 24 hours.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney
Credit : dailyhodl.com
