Arthur Cheong, the CEO of DeFiance Capital, is keeping a close eye on three altcoins that he believes align with the strongest narratives in the crypto space. Speaking in a recent interview on the When Shift Happens YouTube channel, Cheong expressed his optimism about the potential of crypto and blockchain technology, emphasizing their ability to address the needs once served by the fintech industry.
According to Cheong, the inherent nature of crypto and blockchain positions them well to abstract away complexities, despite the existing challenges. He views decentralized finance (DeFi) as an evolved and improved form of fintech, suggesting that traditional fintech no longer brings anything groundbreaking to the financial landscape. In his words, “The banks are doing the robo-advisors themselves, the banks are doing all these things themselves.”
Cheong identifies Synthetix (SNX) and Aave as noteworthy DeFi protocols, along with the crypto gaming project Axie Infinity (AXS) as altcoins that have captured his bullish sentiment. For him, the appeal of DeFi lies in its fundamental departure from traditional financial paradigms, offering a unique way of organizing the financial world. This conviction led him to early investments in Synthetix and Aave. He also sees promise in Axie Infinity, emphasizing the sensible integration of crypto in the gaming sector.
In summary, Arthur Cheong’s strategic focus on Synthetix, Aave, and Axie Infinity reflects his belief in the transformative potential of DeFi and the innovative applications of crypto in diverse sectors.