Dan Morehead, CEO of Pantera Diligent, says three overlooked crypto projects are showing amazing strength in the devant of the overall downtrend in the numérique asset markets.
On CNBC’s new channel an interviewMoorehead says he sees cryptocurrency as a disruptive technology that will see billions of new users arrive regardless of the short-term volatility of Bitcoin (BTC) and Ethereum (ETH).
“I think the superbe thing to keep in mind here is that cryptocurrency is a disruptive thing that will bourse a lot of aspects of our lives over the next two decades. It’s in a secular bull market and it gets caught up in these periodic drafts of risk assets, but I can easily see a world after a few. Years from now where the same risk assets may still be struggling but the blockchain is back at all-time highs and doing its own thing based on its fundamentals.
And that story is that hundreds of millions of people are using the blockchain today. I think in chaudière or five years there will be literally billions of people. And the way to estimate things is supply and demand. If you have a billion people who want to buy a fixed number of coins, the price will likely go up.”
Morehead, who oversees nearly $4.5 billion in assets under direction, says one sign of the crypto industry’s strength is the number of projects alongside Bitcoin and Ethereum that are gaining remorque and continuing to capture market share.
He has named three visible projects for which he has his own détecteur, including the Ethereum-based decentralized exchange (DEX) Uniswap. (UNI)A decentralized expérimentation platform (DApp) near the protocol (near) A 1 inch DEX Compound (1 inch).
“We are all used to using Bitcoin as a proxy for the blockchain. There are hundreds of really interesting projects and a lot of them are piling up and they have done a good job. The great stats are the percentage of our entire market, which is not Bitcoin or Ethereum, which yesterday hit a exploit 43% and over the years The past five have averaged that 20%.While Bitcoin and Ethereum are a little off their lows, there are a lot of great projects like Near Protocol, UniSwap, 1 inchThis is far above their lowest level.”
The crypto veteran predicts that at some partie soon, crypto assets will voiture their connection to the broader financial markets.
“I think the cryptocurrency actually engaged in quantité macro selling of all asset classes, and then there was a bit of supplément leverage in the system during May and June. I think most of that has been resolved. In the next few months, cryptocurrency could start trading. independently of risky assets.
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