Billionaire Arthur Hayes has recently predicted that Aptos will flip Solana over the next few years. Now as Solana suddenly starts to stumble, we are wondering if Hayes had a point.
Solana has fallen by 1.5% in the past 24 hours. SOL slipped to $143.28 together with the whole market. But while Bitcoin and Ethereum are keeping pretty stable prices for quite a prolonged period, called accumulation, Solana is pretty much nosediving.
SOL, which is the market’s fifth-biggest coin by capitalization, is down by 10% in a week and 18% in a month.
Some analysts say, there is a positive side of this as it looks like a bottom out. So they expect Solana to show some bullish sentiments in the near future. They encourage everybody to buy SOL now. Hopefully, the token is about to rebound.
There is no strong evidence to that sentiment, except for a fact that Solana trading volume has lifted from just over $1 billion a day ago to $1.5 billion yesterday.
On the other hand, skeptics might say that was probably a whale sale. Which might again bring us to the idea of Solana struggling for real, rather than just regrouping for the next rebound.
Solana still remains the second most popular altcoin on the market, slightly trailing behind Ethereum. Solana has been recently adopted by Visa and PayPal. These financial giants praise Solana for its blazing speed and low costs of transactions. According to some pretty convincing rumors, Solana might be the next crypto to be approved for ETFs by SEC. And that might bring Solana to a price hike.
But there is an alternative opinion. BitMex founder and a billionaire Artur Hayes is very skeptical. He claims Solana will be soon overtaken by other altcoins. Hayes is particularly fond of Aptos, dubbed as 'Solana killer.'
That sounds pretty wild, as most of us probably haven't heard of Aptos at all. We'll have to wait and see if Hayes has a point.