Matt Hougan, the chief investment officer at Bitwise, a digital asset firm, thinks the recent pro-crypto stance from the Securities and Exchange Commission (SEC) is incredibly positive for the crypto market. He called a recent speech by SEC Chair Paul Atkins the most bullish statement he’s ever seen on crypto. This shift, he says, hasn’t been reflected in current crypto prices.
Layer-1 Blockchains Poised for Growth
Hougan believes the biggest opportunity lies in layer-1 blockchains, particularly those supporting stablecoins and tokenization. He suggests investing in a range of leading blockchains like Ethereum, Solana, Cardano, XRP, Avalanche, Aptos, Sui, and NEAR. His reasoning? If most assets move to public blockchains, these blockchains will be in high demand.
DeFi’s Untapped Potential
The lessening regulatory uncertainty also opens doors for the decentralized finance (DeFi) sector. Hougan points to Uniswap’s record-breaking trading volume and the growth in DeFi lending and derivatives as proof of DeFi’s potential. He believes that with clearer regulations, DeFi could see explosive growth.
Super-Apps to Dominate?
Finally, Hougan predicts that “super-apps” offering a wide range of financial services will benefit significantly. He specifically mentions Coinbase and Robinhood as examples, suggesting one could become a trillion-dollar company.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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