Cryptocurrency hedge fund managers think that an altcoin craze similar to previous years may occur in 2024.
Hedge funds managed to cover the wounds suffered in 2022 thanks to the rise in the market this year.
Pantera Capital, which lost 80 percent of its value last year, provided a return of approximately 80 percent. Chainview Capital has nearly doubled this year after an 18 percent decline. Stoka Global LP, which invests largely in altcoins, as of November 30 was up 268 percent.
Dan Slavin, who runs Chainview Capital “It looks like a new token craze is coming.” said. Slavin, 2023 “a dream year in many ways” defines it as.
According to the Bloomberg index, cryptocurrency hedge funds returned an average of 44 percent this year, following an average loss of 52 percent last year.
Greg Moritz, founder of Alt Tab Capital “Overall, we think this year was a year of recovery. “Next year will be a much better job.” said.