Welcome to The Daily Hodl. We cover the latest news, trends, and developments in the world of cryptocurrency and blockchain. In this article, we will be discussing the top altcoin picks of venture capitalist Arthur Cheong.
TLDR:
– Arthur Cheong, CEO of DeFiance Capital, names three altcoins that he believes are fulfilling crypto’s strongest narratives.
– Cheong is particularly bullish on DeFi protocols Synthetix (SNX) and Aave, as well as crypto gaming project Axie Infinity (AXS).
Arthur Cheong, CEO of DeFiance Capital, has revealed his top altcoin picks that he believes are fulfilling some of the most powerful narratives in the crypto industry. In an interview with the When Shift Happens YouTube channel, Cheong discussed his investment strategies and shared his thoughts on the potential of crypto and blockchain technology.
According to Cheong, the fintech industry is no longer bringing anything new to the financial world, as traditional banks have caught up with the technology and are implementing similar solutions. He believes that decentralized finance (DeFi) is a different paradigm that has the potential to disrupt the financial industry and offer something unique.
As for his top altcoin picks, Cheong mentioned Synthetix, Aave, and Axie Infinity as projects he is particularly bullish on. He sees these projects as innovative and aligning with the principles of DeFi.
Synthetix is a decentralized derivatives platform that allows users to gain exposure to various assets without holding the underlying assets themselves. It achieves this by creating synthetic assets that track the value of the underlying assets. Cheong believes that Synthetix’s approach to enabling synthetic assets has the potential to disrupt traditional financial markets.
In addition to Synthetix, Cheong is also impressed with Aave, a decentralized lending platform that allows users to borrow and lend cryptocurrency. Aave operates on the Ethereum blockchain and provides users with a wide range of lending and borrowing options.
Cheong also mentioned Axie Infinity, a crypto gaming project, as one of his top picks. Axie Infinity is built on the Ethereum blockchain and allows players to collect, breed, and trade digital creatures called Axies. The game has gained significant popularity and has a dedicated community of players. Cheong believes that gaming is one of the few sectors where cryptocurrency integration makes sense, and he sees great potential in projects like Axie Infinity.
Overall, Arthur Cheong is optimistic about the future of crypto and believes that DeFi projects like Synthetix, Aave, and Axie Infinity are leading the way in disrupting the financial industry. He sees these projects as innovative and aligned with the principles of decentralization and transparency that are at the core of the crypto movement.
