Real Vision CEO Raoul Pal says that five altcoins will perform well this year as he expects layer-1 altcoins and interoperable blockchains to shine.
In a new interview with CoinMarketCap’s Jessica Walker, Pal says that Bitcoin (BTC) and Ethereum (ETH) act as “base investments,” each for their own reason.
“I look at it in terms of network effects, [and] what networks are growing within crypto. So Ethereum’s the kind of biggest, most robust network in terms of the number of developers, the number of people investing in it. That makes that one of your base investments. Bitcoin, being the OG in the space, is another base investment.”
The Real Vision CEO says five other altcoins – Ethereum (ETH) competitors Terra (LUNA), Avalanche (AVAX), Solana (SOL), and Polygon (MATIC), as well as cross-chain network Quant (QNT), are also worth keeping an eye on.
“We’re seeing these layer-1s, stuff like Terra, Avalanche and probably Solana. I think maybe 2022 is going to be the year of interoperability, so we’re looking at Polygon, Quant – a few other things that might give us those opportunities.”
Pal says he’s also expecting 2022 to be a bullish year for decentralized finance (DeFi), non-fungible tokens (NFTs), and social tokens.
The former Goldman Sachs executive says he anticipates more adoption from large investors like banks and sovereign wealth funds, including those from Dubai, Abu Dhabi, Kuwait and Saudi Arabia.
“I do think the banks will have them, not on their balance sheets essentially, but in their trading books. I think we will see more pension funds and institutional investors and I think this year might be the year of the sovereign wealth fund.”
O
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong
Credit: Source link
