Cryptocurrency veteran Arthur Hayes believes the economics of Solana’s (SOL) rival could help it emerge as a preferred choice for future initial coin offerings (ICOs).
In a new analysis, the BitMEX co-founder highlights the low cost per transaction of layer-1 blockchain Aptos (APT).
“In 2017, it was common for the Ethereum network to fail due to hot ICOs. Gas prices will skyrocket and the network will become affordable for no one. By 2025, block space costs for Ethereum, Solana, Aptos, and other layer 1s will become very cheap. Our current order throughput is much higher than in 2017. If the team can gain a broad base of support from avid speculators, their ability to raise funds will not be hindered by a slow and expensive blockchain.
Considering the incredibly low cost per transaction when using Aptos, there is an opportunity for Aptos to become the preferred chain for ICO launches.
Average transaction fee ($):
- Aptos: $0.0016
- Solana: $0.05
- Ethereum: $5.22″
Last June, Hayes predicted that Aptos would overtake Solana at some point in the market cycle.
Aptos’ native token, APT, is trading at $13.25 at the time of this writing. The 30th-largest cryptocurrency asset by market capitalization has fallen more than 8% in the past 24 hours.
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