Arthur Hayes and Raoul Pal Discuss Promising Altcoins

Former BitMEX CEO Arthur Hayes and Real Vision CEO Raoul Pal identified strong altcoins, emphasizing the potential of Solana (SOL) and Aptos (APT). 

“I am 90% in Solana. It was the right bet for the current cycle,” stated Pal. 

He noted that a breakout on the ETH/BTC chart might indicate the start of the altcoin season “in its true form.” 

Hayes is optimistic about Ethena (ENA), considering the potential of the USDe stablecoin to “displace” USDT and USDC. The expert also highlighted Ether.Fi, which currently dominates the liquid staking ecosystem.

The former BitMEX head suggested that Aptos might surpass Solana in the “L1 network race.”

Pal hinted at the importance of the Move programming language. He is confident in its potential to “shape the future of blockchain technology.” 

Both experts discussed the importance of strategic positioning in the cryptocurrency market. Pal warned against using outdated perceptions of the industry:

“Hold onto your coins, but don’t [ruin] your portfolio by owning the wrong things. You [don’t want] to miss all the rallies because you’re still stuck in the narrative of the last three cycles.” 

Hayes expanded on this thought, noting that Cardano (ADA) might not be among the top ten in the upcoming bull run.

Meme Madness

According to the former BitMEX CEO, meme coins still have potential for a surge in this cycle, and the market will inevitably become “even crazier” as the Fed and the US Treasury “print more and more money.”

Part of Hayes and Pal’s investment portfolio includes dog-themed coins, such as Dogecoin (DOGE), Bonk (BONK), and Dogwifhat (WIF).

The interlocutors also agreed that DOGE could be the next contender for launching spot ETFs.

“It’s the oldest meme coin, and it’s listed on Robinhood. If you think about TradFi creating ETFs for all sorts of cryptocurrencies, then [DOGE] is exactly the coin with high market capitalization,” Hayes explained his position. 

The Real Vision CEO emphasized Dogecoin’s unique position as the “original meme token.” He noted that the cultural significance and humor of the asset give it “a clear advantage over other, more niche cryptocurrencies.”

“I’m still in DOGE because I think Elon [Musk] is going to do something with the coin,” Pal speculated. 

According to the experts, the meme coin phenomenon is crucial in the culture of the crypto market. However, they warned about the “fleeting” nature of such assets.

Previously, Pal and Hayes concluded that meme cryptocurrencies could benefit blockchain ecosystems by attracting new users and developers.

In June, the former BitMEX head urged opening a long position on Bitcoin and later on altcoins due to the start of a rate-cutting cycle. 

Prior to this, Hayes predicted the first cryptocurrency’s rise to $70,000 by the end of summer.