All L1s to Zero? Arthur Hayes Sparks Debate Over XRP's Fate

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News What of XRP? Is XRP safe? Advertisement In a recent podcast, BitMEX cofounder Arthur Hayes predicts most L1s going to zero, with the exception of Ethereum and Solana. In a recent discussion on "Altcoin Daily," Hayes said: "I think pretty much every other L1 besides Ethereum or Solana is a zero and they're not going to do very well." Hayes defends his claim, saying that as major banks move into crypto and Web3, he expects them to build on Ethereum , which he sees as essential infrastructure and the main driver of ETH's next major rally. HOT Stories 4 Reasons Why XRP Matters Named by 21Shares as New XRP ETF Wins SEC Approval Morning Crypto Report: XRP Loses 89% in Fee Revenue, Satoshi Nakamoto Appears at New York Stock Exchange, Bitcoin Rockets 3,065% in Liquidation Imbalance Strategy Might Sell Bitcoin, CEO Says Crypto Market Prediction: Ethereum (ETH), King of Altcoins, Is Back; Is XRP Ready for Price Jump? Shiba Inu (SHIB) Fails First Resistance Test Arthur Hayes: Except for Ethereum and Solana, almost all other L1s will go to zero On November 29, on Altcoin Daily, Arthur Hayes said that, aside from Ethereum and Solana, almost all other L1s will go to zero. As major banks move into crypto and Web3, he expects them to build… pic.twitter.com/p8ssUer1cu — Wu Blockchain (@WuBlockchain) December 11, 2025 On Solana, he praised its meme-coin-driven strength and its position as the second largest L1 but argued it still needs a new growth narrative and will struggle to outperform Ethereum in price. Advertisement What of XRP? Hayes did not touch on XRP in his recent discussion, given his not so favourable stance toward the cryptocurrency. In fact, when he was asked to pick his "magnificent five" for crypto, Hayes mentioned Ethereum, Solana, Bitcoin, Zcash and Athena. Hayes once hinted that Zcash (ZEC) was a better altcoin than XRP, saying that the former could overtake XRP in market cap at some point. Advertisement This aside, the recent claim of most L1s heading to zero by the BitMex cofounder prompts the question of where XRP stands. Is XRP safe? Institutional adoption of blockchain-powered finance has grown since the previous year, with tokenized real-world assets (RWAs), stablecoins and decentralized liquidity markets acting as key drivers of growth. In this light, XRP Ledger (XRPL) is building on its core strengths to create an advanced institutional DeFi ecosystem. Several key capabilities are live, with others on their way, which will support the XRPL as the layer 1 of choice for financial institutions looking to use blockchain in a regulated environment. Ripple is also working alongside the XRP community to bring native programmability to the XRP Ledger. #Arthur Hayes #XRP