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DeFiance Capital CEO Arthur Cheong has revealed that he is closely monitoring three cryptocurrency assets that he believes are fulfilling the most powerful scenarios. Here are those cryptocurrencies and their potential scenarios!
Development in Cryptocurrencies
In his recent statements on the When Shift Happens YouTube channel, Arthur Cheong claimed that cryptocurrency and blockchain technology are ready to meet the needs once addressed by the fintech industry. The expert stated the following:
We are in a good position to abstract crypto and blockchain. And I still think this is valid at the moment. Obviously, there are many problems, but from a first-principle perspective, this makes sense. That’s why I think it’s worth investing in, and I believe DeFi (decentralized finance) can be said to be a better form of fintech in a way… I don’t think fintech actually brings anything new to finance because whatever technology is going to bring to finance, a bank can do it itself. Banks are doing the robo-advisory business themselves, they are doing all these things themselves. They might be a bit slower, but it’s not something they can’t catch up to in two or three years, so there’s nothing new that fintech will bring to the financial world.
Prominent Altcoins in DeFi
Arthur Cheong identified DeFi protocols Synthetix (SNX) and Aave, as well as the cryptocurrency gaming project Axie Infinity (AXS), as the altcoins he particularly sees on the rise and is closely monitoring. The expert analyst concluded his remarks by emphasizing:
But I think DeFi is fundamentally a different paradigm. It’s a different way of organizing the financial world. It’s a sector worth investing in, and that’s what led me to invest early in Synthetix, AAVE. The same is true for AXS; I think when we look at many sectors, gaming is one of the very few sectors that makes sense with crypto.
