Arthur Hayes Says This Solana Rival Could Become Preferred Chain for ICO Launches

Crypto veteran Arthur Hayes thinks the affordability of one Solana (SOL) rival could help it emerge as the preferred choice for future initial coin offerings (ICOs).

In a new analysis, the BitMEX co-founder highlights the low per-transaction cost of the layer-1 blockchain Aptos (APT).

“In 2017, it was not uncommon for a hot ICO to render the Ethereum network inoperable. Gas fees would spike, and no one could use the network affordably. In 2025, the cost of block space on Ethereum, Solana, Aptos and other layer-1’s will be extremely cheap. The current order throughput is orders of magnitude higher than in 2017. If a team can garner a broad base of support from avid degen speculators, their ability to raise funds will not be hampered by a slow and expensive blockchain.

Given the insanely low per-transaction cost of using Aptos, there is an opportunity for them to become the preferred chain [for] ICO launches.

Average transaction fee in $:

• Aptos: $0.0016
• Solana: $0.05
• Ethereum: $5.22″

In June, Hayes predicted Aptos would overtake Solana at some point in this market cycle.

Aptos’ native token, APT, is trading at $13.25 at time of writing. The 30th-ranked crypto asset by market cap is down more than 8% in the past 24 hours.

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