Arthur Hayes Picks These Eight Altcoins for the Crypto Bull Run
BitMex’s founder, Arthur Hayes, may have shilled eight tokens for the upcoming bull run. In a blog post on Thursday, he stated that his attention has been drawn to these shitcoins, and he could write more about them in the coming months.
Hayes pushed certain narratives in his blog post and stated the tokens that would benefit from them. He, however, indicated that he doesn’t care if investors dive into the shit coins or not, just that he “presents such a provocative story and supporting arguments that you discuss it in a positive or negative manner with others.”
New Narratives for the Bull Run
According to Hayes, retail derivative trading volume would shift from centralized exchanges (CEXs) to decentralized exchanges (DEXs). He stated that projects like dYdX, GMX, and possibly another challenger would help drive this narrative.
Furthermore, the BitMEX founder noted that the launch of ETH staking would spark a surge in interest rate swap trading volume across decentralized finance (DeFi), and he sees Pendle heading that narrative.
Notably, Hayes stated that Tether and any other stablecoin that uses TradeFi Bank for fiat custody would face pressure during this bull cycle. He alleged that a project like Ethena, which does not rely on TradeFi, will become the top USD-pegged stablecoin. Other tokens that Hayes mentioned as his focus for the bull run include Krav, Flare, and Elixir.
Focus on Altcoins
“Right now, the energy and attention is on the astonishing amount of Bitcoin the US-listed spot ETFs are accumulating. This, along with a global fiat debasement orgy, will drive Bitcoin to unfathomable heights in fiat currency terms. And the upcoming US-listed Ether ETF will drive Ether prices higher as well. I’ve got my Bitcoin and Ether. I might buy a bit more, but by and large, my focus is shifting to shitcoins,” Hayes said.
The BitMex founder acknowledged the potential of Ethereum and Bitcoin in the coming bull run but stated that he is looking for tokens that would outperform them. He noted that he could achieve that through knowledge and telling more stories like this.
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