BitMEX founder Arthur Hayes released another article this morning, which discussed the power of storytelling in cryptocurrency investment, emphasizing that the story is more important than the technology itself. Hayes believes that investment decisions are often based on the attractiveness and communicability of the story, rather than the complexity or innovation of the technology. He refers to himself as the “Chief Storyteller” and emphasizes that his job is to tell compelling and easily communicable stories, rather than delve into technical details. Hayes points out that even investment teams without a strong technical background can succeed in investing by identifying and spreading powerful stories. This strategy depends on the acceptance and dissemination of project stories by the community and the market, rather than the technical innovation of the project itself.
In addition, Hayes shares in the article the “stories” behind the altcoins invested by his venture capital firm, Maelstrom Capital.
Retail derivatives trading volume will shift from centralized exchanges to decentralized exchanges.
Related projects: dYdX, GMX, and possibly other challengers.
The launch of ETH staking will stimulate the increase in interest rate swap trading volume in DeFi.
Related project: Pendle.
There is a way to drive Quanto derivative trading volume on decentralized exchanges using low market cap cryptocurrencies worth billions of dollars.
Related project: Krav.
On-chain liquidity for decentralized exchanges will be provided by middleware, replacing market makers currently in the market.
Related project: Elixir.
As decentralized exchanges become the primary venue for price discovery, on-chain oracles that provide prices for settlement and clearing will become increasingly important.
Related project: Flare.
Tether and any stablecoin using traditional financial banks as fiat custodians will face pressure. We can create fiat-backed stablecoins that do not rely on traditional finance.
Related project: Ethena.
How to solve the problem of asset cross-chain interoperability without relying on cross-chain bridges.
Related project: Axelar.
Finally, Hayes concludes that the public’s attention and focus are now on the US-listed Bitcoin spot ETF, coupled with the celebration of global fiat devaluation, which will drive the Bitcoin price to unimaginable heights in USD value. In addition, the upcoming US Ethereum ETF will also boost the price of Ether. However, Hayes states that he already holds enough Bitcoin and Ether and will now shift his focus to altcoins.
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