BitMEX co-founder Arthur Hayes asserted that the altcoin market will endure despite the prediction that 99% of altcoins will eventually become worthless. Speaking at Consensus on May 5, 2026, Hayes compared the altcoin market to the historical performance of the stock market, noting that since 1929, approximately 98% of S&P 500 companies have also gone to zero. He emphasized that the continuous nature of crypto trading accelerates this cycle but still serves as an effective model for capital raising and innovation.