Famous for making his predictions come true Arthur HayesWhile evaluating past cycles in the When Shift Happens podcast he attended on October 10, he made striking observations about how a real altcoin season could emerge. According to Hayes, the most decisive difference of the new era will be that investors will no longer focus only on hype, but on projects that generate income and distribute shares to coin holders.
Transition from Hype to Real Economy
Hayes, who was a guest on the podcast When Shift Happens, said in previous cycles DeFi their protocols are not as sustainable as they promise reminded me. Many projects have neither a customer base, product-market fit, or revenue model, yet they have a high coin He emphasized that it remains on the agenda with its valuations. in 2021 DeFi Summer He stated that during the period, users flocked to the protocols only for coin rewards, and that this temporary interest ended with market crashes.
If between 2023–2024 cryptocurrency He said that venture capital funds inflated market prices with the “high TVL – low supply” tactic, but investors became more rational over time and noticed artificial valuations. According to Hayes, this change cryptocurrency marketA reflection of the maturation process of.
New Era in Cryptocurrencies
Hayes sees this transformation in investor behavior as a new phenomenon. altcoin seasonHe claimed that he shaped it. According to him, prominent projects now not only create on-Blockchain activity, but also generate revenue from their users and share these earnings with coin holders. altcoin project hyperliquid Stating that examples such as these are the first representatives of this understanding, Hayes said, “Real value no longer arises from speculation, but from the use itself.”
Hayes, who thinks that investors being more selective will both improve the market quality and enable the emergence of permanent brands, said that the current cycle differs from the artificial rally periods of the past. He also noted that the real rise will begin with the completion of this structural transformation.
