BlockBeats News, May 5th, Arthur Hayes stated at Consensus 2026 that although "99% of altcoins may go to zero," this phenomenon is similar to the historical turnover of S&P 500 components and does not mean the end of the industry.

Hayes pointed out that around 98% of S&P 500 companies have been eliminated since 1929, and market cleansing is part of a normal cycle. The altcoin ecosystem will continue to exist and evolve.