The founder of a crypto-focused hedge fund has revealed what industry niches can thrive once the current bear market cycle ends. The famous name specifically pointed to three altcoin markets. Here are the details…
Pantera Capital CEO draws attention to these altcoin markets
In an interview with RealVision, Pantera Capital CEO Dan Morehead told host Raoul Pal that the crypto world is cyclical. Because as projects are completed or destroyed, there are always new opportunities to seize, such as decentralized finance (DeFi) and NFTs, he said. Pointing out that everything happens within certain periods, Morehead said, “Things that were important four or five years ago are either finished now or do not offer much opportunity.” Morehead also used the following statements:
I think DeFi is incredibly cheap right now so it should be a huge chunk of what one invests in. Things like the next frontiers, the game [and] the NFT space, really become critical now that enough people use it. Blockchain game, for example, can relate to people.
Morehead pointed to the lack of Blockchain in many countries
The CEO noted that there are opportunities to invest in more traditional aspects of crypto, such as exchanges, and that many major countries around the world still lack a centralized market for buying and selling digital assets. Morehead used the following statements:
In our venture investments, we have invested in the entire spectrum. Even things like the stock market, you can say, ‘Hey, they have to be fully built. They were not built! There are many countries of huge size like Indonesia – we recently invested in Pintu. 120 million people and they will all be using Blockchain, and a year ago there really wasn’t a big exchange. There are still countries that need exchanges like this.
Morehead continues to highlight the importance of layer 2 scaling solutions as both Bitcoin (BTC) and Ethereum (ETH) have capacity limitations that need to be resolved to accommodate increased blockchain usage. Morehead uses the following expressions:
We have become major investors in tier 2 scaling solutions. Bitcoin and Ethereum are great, but they only do a very limited number of transactions, so we need it. There are borrowing and lending protocols, very important. So both consumer and infrastructure gaming will be crucial in this next cycle.
What are the Altcoins in GameFi, NFT and DeFi?
So, what are the most popular altcoins in the NFT, DeFi, and gaming space Morehead points to? First of all, in terms of NFTs, the most popular ones are Flow (FLOW), ApeCoin (APE), Enjin Coin (ENJ), WAX (WAXP), Radio Caca (RACA). On the other hand, the biggest DeFi coins include AVAX, DAI, UNI, LINK and XTZ. Finally, the biggest gaming tokens include Axie Infinity (AXS), STEPN (GMT), Gala (GALA), Chromia (CHR), Vulcan Forged (PYR).
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