BitMEX Founder Arthur Hayes is Bullish on Three Crypto Projects
BitMEX founder Arthur Hayes is turning bullish on three crypto projects during the current bull market cycle.
In a new interview with Pomp Investments founder Anthony Pompliano, Hayes says the decentralized finance (DeFi) project Pendle (PENDLE), which allows users to tokenize and sell future yields, has a lot of upside potential as it innovates in the interest rate space.
“If we want to have a farm-to-table use of Bitcoin, Ethereum or whatever cryptos we need interest rates to borrow and lend amongst the ecosystem. So we’re starting to see that. Pendle is pioneering that. They’ve created some fun things with the ability to separate out a fixed yield and trading yields on points allocations for certain protocols…
They’re going to be coming out with their version of a leverage interest rate swap… I think Pendle could become the largest exchange for derivatives in the entire space, whether centralized or decentralized, if they’re really able to take down this interest rate narrative and build the native yield curves across the ecosystem for Bitcoin, Ethereum and the other shitcoins.”
Pendle is trading for $2.52 at time of writing, down 2.5% in the last 24 hours.
Bullish on Filecoin’s Potential Use in AI Companies
Next up, Hayes expresses his bullishness on peer-to-peer file storage network Filecoin (FIL) for its potential use by artificial intelligence (AI) companies as a means to store data.
“Filecoin: obviously the AI narrative, it’s still going. And you’re seeing all this energy in the traditional stock markets of all these AI companies… I think we’re just getting started in this AI bubble… Obviously, AI-training models are very data-intensive.”
Filecoin is trading for $8.24 at time of writing, down more than 7% in the last 24 hours.
Bitcoin Ordinals and the Potential for Artistic Creations
Lastly, Hayes is bullish on Bitcoin (BTC) ordinals. Bitcoin ordinals allow users to inscribe digital data such as images and videos to a single satoshi, or an individual unit of BTC, to create the equivalent of non-fungible tokens (NFTs) on the crypto king’s network.
“I think that ordinals are going to be massive this cycle and we’re going to see some new ways of launching artistic creations directly on the Bitcoin blockchain that’s going to be different than what you’ve seen.”
Hot Take: BitMEX Founder Arthur Hayes Bullish on Three Crypto Projects
BitMEX founder Arthur Hayes shares his bullishness on three crypto projects during the current bull market cycle. Pendle, a decentralized finance (DeFi) project, has caught Hayes’ attention due to its innovative approach to interest rates and future yield tokenization. Hayes believes Pendle could become the largest exchange for derivatives in the entire space if it succeeds in building native yield curves across major cryptocurrencies.
Hayes is also optimistic about Filecoin’s potential use by AI companies for data storage. With the AI industry gaining momentum in traditional stock markets, Filecoin’s peer-to-peer file storage network could play a significant role in supporting data-intensive AI training models.
Furthermore, Hayes sees potential in Bitcoin ordinals, which allow users to create NFT-like digital assets by inscribing them to individual units of BTC. He anticipates new and innovative ways of launching artistic creations directly on the Bitcoin blockchain.
While these projects may face short-term price fluctuations, Hayes believes in their long-term potential and sees them as promising opportunities for investors in the current bull market.
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