ETH Based Projects To Look Out For According To Pantera CEO
ETH Based Projects To Look Out For According To Pantera CEO.
Dan Morehead, the founder and CEO of Pantera Capital, the first U.S. institutional asset manager focused on blockchain technology, said in an interview with CNBC that in the coming years there are billions of people who will use blockchain.
Using Fundamentals to Explain Crypto
Spoke to CNBC on September 23, Dan Morehead was asked about “is there any way to fundamentally or using fundamentals to explain the action in crypto?”.
Responding to the question the founder said that he did think crypto got caught up in the macro sell-off of all asset classes “and there was a bit of excess leverage in the system through May and June .”
He added that most of that has been worked out and in the next few months crypto can start “trading independently of risk assets”.
Related: Ethereum Co-founder Says Centralization is Still The Biggest issues in Crypto Industry
During the interview, Morehead also talked about a clear value to Crypto despite the scarcity, the dollar devaluation worries, financial crisis, and the FED is in tightening mode.
“ I think the important thing to keep in mind here is crypto is such disruptive thing that’s going to change so any aspects of our lives the next couple decades it’s in a secular bull market and it does occasionally get caught up in these cyclical downdrafts of risk assets but i can easily see a world a few years from now where risk assets themselves might be struggling but blockchain’ back to all-time highs and doing it own thing based on its own fundamentals.”
ETH Based Projects That Are Doing Well In Bear Market
He also said that today there are hundreds of millions of people use blockchain,” i think in four or five years it’s going to be literally billions of people and the way to value things is supply and demand if you have billion people that want to buy a fixed number of coins the price probably will goes up.”
In addition, Morehead explained that there are hundreds of projects in Bitcoin, “ a really important point is you know we all are used to using Bitcoin as a proxy for blockchain there are hundreds of really interesting projects and a lot of them are rallying it have done quite well.”
Related: Crypto Experts & Analysts Forecasting Bitcoin Price To Drop To This Level
“There are lots of cool projects like Near protocol, Uniswap, 1inch that are way above their lows,” added him.
For more info regarding Crypto Alpha and NFTs Alpha. Always follow us on Twitter and Instagram.