Arthur Hayes of BitMEX is now bullish on 3 crypto projects, during this bull market cycle.
Hayes interviews Anthony Pompliano of Pomp Investments in a recent interview. says The decentralized Finance (DeFi), project PendlePENDLEThe interest rate market is a very innovative one, and this new technology (which allows users to tokenize future yields and sell them) has great upside potential.
If we are to use Bitcoin, Ethereum, or any other cryptos from farm to table we will need to set interest rates for borrowing and lending within the eco-system. Now we are starting to notice that. Pendle pioneers this. They’ve created some fun things with the ability to separate out a fixed yield and trading yields on points allocations for certain protocols…
They’re going to be coming out with their version of a leverage interest rate swap… I think Pendle could become the largest exchange for derivatives in the entire space, whether centralized or decentralized, if they’re really able to take down this interest rate narrative and build the native yield curves across the ecosystem for Bitcoin, Ethereum and the other shitcoins.”
Pendle has fallen 2.5% over the past 24 hours to $2.52.
Filecoin, a peer-topeer network for file sharing and storage (also known as Filecoin), is another area where the trader has expressed his optimism.FILThe AI companies may use it to store their data.
“Filecoin: obviously the AI narrative, it’s still going. And you’re seeing all this energy in the traditional stock markets of all these AI companies… I think we’re just getting started in this AI bubble… Obviously, AI-training models are very data-intensive.”
Filecoin was trading at $8.24 when this post went to press, down over 7% from the previous 24 hours.
Last but not least, the trader believes in Bitcoin.BTC) ordinals. Users can create equivalents of non-fungible Tokens (NFTs), on the network of crypto king, by using Bitcoin Ordinals.
“I think that ordinals are going to be massive this cycle and we’re going to see some new ways of launching artistic creations directly on the Bitcoin blockchain that’s going to be different than what you’ve seen.”
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