What to Know:
Arthur Hayes, co-founder of BitMEX and one of the most closely watched voices in crypto macro-analysis, has argued that the next altcoin bull run will be driven by utility, users, and paying customers, not hype.
That’s a distinct shift from the way things have been so far, where projects rely on hype and momentum to build up enough of a user base to establish themselves. Hayes highlights that those days are coming to an end – and the next crypto to explode could be poised to take advantage.
In his recent remarks, Hayes said the era of projects thriving solely on token hype and venture backing is coming to an end. Instead, projects with real users, paying clients, and sustainable value-sharing models will shape the new cycle.

That’s distinct from previous cycles, where projects launched innovative projects – but never had a good market fit, never retained customers, and never generated the revenue they needed to stay alive.
Historically, altcoin seasons have come in waves — from the ICO mania of 2017 to DeFi Summer in 2020 and meme-coin explosions in 2023–24. Each cycle brought new innovation, but many tokens eventually faded once hype outpaced product-market fit.
Now, the emphasis is shifting. Projects capable of generating cash flow, measurable on-chain activity, or user-driven rewards are gaining traction. This aligns with a maturing investor base seeking sustainable growth rather than pure speculation.Amidst this shift, one new presale — PepeNode — is gaining attention. Though it carries a playful meme aesthetic, it’s designed around an actual mine-to-earn virtual node ecosystem, directly appealing to the ‘utility + user’ vision Hayes outlined.
At its core, PepeNode ($PEPENODE) transforms the familiar meme-coin playbook into a gamified virtual mining experience, where users deploy digital nodes, upgrade facilities, and earn $PEPENODE rewards — all without real-world hardware or energy costs.

The presale offers $PEPENODE at $0.0011363 per token, with a total supply of 210 billion tokens minted on the Ethereum network (ERC-20 standard). Early participants can purchase via ETH, USDT, BNB, or even credit/debit cards and stake $PEPENODE tokens for 621% dynamic APY; you can learn more about how to buy $PEPENODE with our guide.
The platform’s signature feature — Virtual Miner Nodes — allows users to participate in simulated mining cycles that yield token rewards over time. These nodes can be upgraded and expanded to boost mining efficiency and overall returns.The approach introduces a ‘mine-to-earn’ structure designed for accessibility and engagement. It’s a gamified approach to meme coin mining, delivering meme coin rewards without any of the technical and energy barriers typical of Proof-of-Work mining.
Key functional elements include:
The presale’s appeal lies in its blend of meme familiarity with functional engagement, offering something to do, not just to hold. As Hayes noted, the market is turning toward projects that give users tangible reasons to participate.
Our own price prediction sees $PEPENODE reaching $0.0072 from its current price, delivering 533% rewards to early participants.
Join the PEPENODE presale today!
As Hayes heralds a new era for altcoins, PepeNode joins the running as a project delivering utility and a genuine use case – not just hype.
This content is for informational purposes only. Always do your own research (DYOR). Not financial advice (NFA).
Authored by Bogdan Patru for Bitcoinist — https://bitcoinist.com/hayes-says-new-altcoins-work-for-user-as-pepenode-might-be-next