BitMEX founder Arthur Hayes has displayed a positive outlook towards three altcoin projects during the current bull market cycle. In an interview with Pomp Investments founder Anthony Pompliano, Hayes shared his views on the promising potential of these projects.
First of all, Hayes states that Pendle (PENDLE), which operates in the field of decentralized finance (DeFi), has brought a significant innovation in the field of interest rates. This innovation could make a significant contribution to the DeFi ecosystem by offering users the opportunity to tokenize and trade their future returns. According to Hayes, Pendle fills an important gap in the DeFi space by offering a new trading mechanism based on interest rates.
Pendle is trading at $2.71, up 10% in the last 24 hours.
Hayes also believes that the potential use of peer-to-peer file storage network Filecoin (FIL) as a means of data storage by artificial intelligence (AI) companies will increase. The data storage services offered by Filecoin are preferred by more and more businesses and developers. Especially with the increase in applications such as artificial intelligence, the storage infrastructure offered by Filecoin becomes more important. This indicates that Filecoin will find a larger user base and a wider usage area in the future.
“Filecoin: Frankly the AI narrative is still ongoing. And you see all this energy in the traditional stock markets of all these AI companies… I think we’re just starting this AI bubble….”
The altcoin is trading at $8.27 at the time of writing.
Finally, Hayes states that he is bullish on Bitcoin (BTC) ordinals. Bitcoin ordinals further increase the inherent value of cryptocurrencies, while also enabling the tokenization of digital art and other types of digital assets. This could create a new revenue stream and business model for artists, creators, and other content producers, while also further diversifying the Bitcoin network’s ecosystem.
“I think Ordinals will be huge this cycle, and we will see some new ways to launch artistic creations directly on the Bitcoin network that will be different from what you have seen.”
Besides all this, Hayes made an ambitious prediction that the price of Bitcoin will reach 1 million dollars.
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