The founder and CEO of digital asset funding agency Pantera Capital, Dan Morehead, is expressing optimism about two cryptocurrencies which can be ranked in the highest ten by market cap.
Starting off with Polkadot (DOT), a platform designed to permit interoperability amongst various blockchains, Morehead says in a CNBC interview that the tenth largest cryptocurrency by market cap will launch its first decentralized finance (DeFi) protocol in the primary three months of 2022.
“I believe we’re all coming to the conclusion that there gained’t be only one blockchain in the long run.
There can be you already know perhaps 10 or 20 essential blockchains.
And so Polkadot will show you how to transfer worth from one to the opposite.
And their first DeFi protocols are going stay in the primary quarter so we’re very enthusiastic about it.
… We even see enterprises like Deutsche Telekom beginning to construct on Polkadot. And fairly quite a lot of builders are constructing on it. So we see an enormous quantity of momentum there.”
Slightly over per week in the past, Germany’s telecommunications large Deutsche Telekom announced intentions to turn into a Polkadot validator. A Deutsche Telekom subsidiary additionally purchased DOT tokens.
Next up is Terra (LUNA), a blockchain that makes use of stablecoins to make programmable funds and the event of open monetary infrastructure doable. According to the Pantera Capital head, Terra is without doubt one of the “most promising coins” for 2022.
“[Terra] permits the algorithmic stablecoins to be constructed and they’ve the third most precious stablecoin UST constructed on high of it. And it’s rising at a really very speedy charge.
… We suppose it’s some of the promising coins for the approaching 12 months.
So many individuals are simply discovering it and simply beginning to commerce it. It has a $31 billion market cap, so it nonetheless has loads of room it could actually develop.”
Ranked ninth by market cap, Terra is buying and selling at $87.63 on the time of writing, up by over 13,000% for the reason that begin of 2021.
Disclaimer: Opinions expressed at The Daily Hodl are usually not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any loses you might incur are your accountability. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please observe that The Daily Hodl participates in affiliate internet marketing.
Featured Image: Shutterstock/sdecoret