BitMEX founder Arthur Hayes is bullish on three crypto projects during the current bull market cycle.
In a new interview with Anthony Pompliano, founder of Pump Investments, Hayes said PENDLE, a decentralized finance (DeFi) project that allows users to tokenize and sell future yields, will revolutionize the interest rate space. , said there is a lot of room for upside.
“If you want to use Bitcoin, Ethereum, and other cryptocurrencies from farm to fork, you need interest rates to lend and borrow across the ecosystem. So we're starting to see that. Pendle is a pioneer in that. They've created some fun stuff with the ability to separate fixed and trading yields in point allocation for specific protocols…
They plan to launch their own version of leveraged interest rate swaps… If they can indeed bring this rate down, Pendle could become the largest derivatives exchange in the entire space, whether centralized or decentralized. I think there is a story to be told and a native yield curve built across the Bitcoin, Ethereum, and other shitty coin ecosystems. ”
Pendle is trading at $2.52 at the time of writing, down 2.5% in the past 24 hours.
Next, the trader said he was also bullish on peer-to-peer file storage network Filecoin (FIL), citing its potential to be used by artificial intelligence (AI) companies as a way to store data.
“Filecoin: Clearly the AI story, it's still going on. And we're seeing this kind of energy in the traditional stock market of all these AI companies…We're just getting started in this AI bubble. I think…obviously, AI training models are very data-intensive.”
Filecoin is trading at $8.24 at the time of writing, down more than 7% in the past 24 hours.
Finally, this trader is bullish on Bitcoin (BTC) ordinal. Bitcoin Ordinal allows users to write digital data, such as images or videos, into a single his SATOSHI, or individual unit of BTC, creating a token equivalent to a non-fungible token (NFT) on the crypto king's network can.
“I think ordinal numbers are going to be massive this cycle, and we’re going to see some new and different ways to launch artistic works directly onto the Bitcoin blockchain.”
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