TL;DR
- Arthur Hayes about the Importance of Narrative: Hayes emphasizes the importance of strong narratives in the success of crypto projects. He believes that an appealing story often outweighs the technical aspects of a project, and investing early in projects with compelling stories could generate higher returns.
- DEX and Altcoins: Hayes supports the shift of retail derivatives trading volume from centralized exchanges to decentralized ones. He highlights several altcoins including Krav, Elixir, and Flare that he believes will grow significantly in the upcoming bull run.
- Personal Picks: The last three projects on Hayes’ list are Pendle, Ethena, and Axelar. These are his picks and not financial advice. As always, investors should do their own research before making any investment decisions.
Arthur Hayes, the former CEO of BitMEX, has recently outlined his top altcoin picks for the upcoming bull market. Hayes, a well-known figure in the cryptocurrency scene, has made accurate calls on key projects, amassing significant wealth and influence. In his latest blog post, Hayes emphasized the importance of strong narratives in the success of crypto projects.
He argued that an appealing story often outweighs the technical aspects of a project, as understanding complex tech can be challenging. Hayes indicated that investing early in projects with compelling stories could generate higher returns. Hayes identified several narratives and corresponding altcoins that he believes will succeed in the upcoming bull run.
One such narrative is the shift of retail derivatives trading volume from centralized exchanges to decentralized ones. While Hayes doesn’t necessarily believe this will happen, he thinks the story is strong enough to gain traction. As a result, he is supporting leading derivative DEXes, dYdX, GMX, and other projects that challenge the incumbents.
Krav and Elixir: Arthur Hayes’ Picks for the Next Big Thing in DEX
Hayes also highlighted Krav, an altcoin that he believes will grow significantly as it enables users to enjoy quanto derivatives trading volume powered by low-cap cryptocurrencies. Another coin in the DEX conversation is Elixir, which Hayes speculates will disrupt the market by becoming the primary source of on-chain liquidity.
Flare, a project that provides on-chain oracles, was also named by Hayes as a key player in the DEX sector. As decentralized exchanges become the primary venue for price discovery, on-chain oracles will become more important for their role in liquidation and settlements.
The last three projects on Hayes’ list are Pendle, Ethena, and Axelar. Pendle is tipped to capture interest by powering interest rate swap trading on-chain, while Ethena aims to dominate the stablecoin narrative by delivering a stablecoin that does not rely on traditional finance.
Lastly, Axelar aims to make cross-chain bridging seamless, allowing users to move assets across networks uniquely. While Hayes is picking potential winners in the altcoin market, it’s important to note that these are his picks, not financial advice. As always, investors should do their research before making any investment decisions.
