BitMEX co-founder: Shifting focus to altcoins like dYdX, Pendle, Elixir
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BitMEX co-founder: Shifting focus to altcoins like dYdX, Pendle, Elixir
In his latest article titled "Chief Storyteller," Arthur Hayes, co-founder of BitMEX, emphasizes that in the crypto market, narrative outweighs technology itself. As Chief Investment Officer at Maelstrom, he sees himself more as a "Chief Storyteller," responsible for crafting and spreading compelling stories that spark widespread discussion and drive success in the crypto markets. He argues that the better and more concise the story, the faster it spreads—and the greater the increase in value for associated tokens. Arthur Hayes notes that current attention is focused on U.S.-listed Bitcoin spot ETFs accumulating large amounts of Bitcoin, combined with a global trend of currency devaluation, both of which will propel Bitcoin’s price higher. Additionally, the upcoming launch of U.S.-listed Ethereum spot ETFs is expected to boost Ethereum’s price. While he already holds Bitcoin and Ethereum, his focus is gradually shifting toward altcoins. In the coming months, he plans to highlight several key narratives and projects: - Retail derivatives trading volume will shift from centralized exchanges (CEX) to decentralized exchanges (DEX). Related projects: dYdX, GMX, and others. - The rollout of Ethereum staking will trigger a surge in interest rate swap trading volume within DeFi. Related project: Pendle. - Low-market-cap meme coins will be used to support quantitative derivatives trading volume on DEXs. Related project: Krav. - Middleware protocols will provide on-chain liquidity for decentralized exchanges. Related project: Elixir. - On-chain oracles that provide pricing for settlement and clearing will become increasingly critical. Related project: Flare. - Development of fiat-pegged stablecoins that do not rely on traditional finance. Related project: Ethena. - Solving cross-chain asset bridging without building bridges. Related project: Axelar.
Navigating Web3 tides with focused insightsTechFlow News — Arthur Hayes, co-founder of BitMEX, has published a new article titled "The Chief Storyteller," emphasizing that in the crypto market, narrative outweighs technology itself. As chief investment officer of Maelstrom, he sees himself more as a "Chief Storyteller," responsible for crafting and spreading compelling stories that spark widespread discussion and drive success in the cryptocurrency market. He argues that the better and more concise the story, the faster it spreads—and the greater the value appreciation for tokens associated with that story.
Additionally, Arthur Hayes notes that attention is currently focused on the massive accumulation of Bitcoin by U.S.-listed spot Bitcoin ETFs, combined with the global trend of monetary devaluation, which he believes will propel Bitcoin’s price higher. The upcoming launch of U.S.-listed spot Ethereum ETFs is also expected to boost Ethereum’s price. While he already holds both Bitcoin and Ethereum, his focus is gradually shifting toward altcoins.
The projects he plans to highlight in detail over the coming months include:
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Retail derivatives trading volume will shift from centralized exchanges (CEX) to decentralized exchanges (DEX). Related projects: dYdX, GMX, and others.
-
The rise of Ethereum staking will trigger a surge in interest rate swap trading volume within DeFi. Related project: Pendle.
-
Low-market-cap meme coins will be used to support quantitative derivatives trading volume on DEXs. Related project: Krav.
-
Middleware providing on-chain liquidity for decentralized exchanges. Related project: Elixir.
-
On-chain oracles that provide pricing for settlement and clearing will become increasingly important. Related project: Flare.
-
Creation of fiat-pegged stablecoins that do not rely on traditional finance. Related project: Ethena.
-
Solving cross-chain asset bridging without building bridges. Related project: Axelar.
