Arthur Hayes: The next round will focus more on established DEFI projects with cash flow.
2026-10-15 12:00:44
According to CoinMeta, maelstrom co-founder Arthur Hayes stated in an interview on The Rollup that market confidence should be based on cash flow. He pays more attention to projects that have real paying customers and are able to return profits to token holders. He believes that AI and agent will use protocols that have withstood the test of time, and it is worth focusing on those projects that have been around since DEFI in 2020 and are still making money today. Although the prices of these projects have dropped significantly, they are still widely used, have reasonable price-to-earnings ratios, and the protocols are also combinable. He does not think that the next wave of opportunities will mainly come from newly established projects, and mentioned that for those projects he believes could increase tenfold in value, their tokens are already tradable now. Wu also reminded that Arthur Hayes has a lower historical accuracy rate in its market predictions and its views are often adjusted, suggesting that one should refer more to its analytical framework rather than specific price and time forecasts.
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