The founder and CEO of digital asset investment firm Pantera Capital, Dan Morehead, is expressing optimism about two cryptocurrencies that are ranked in the top ten by market cap.
Starting off with Polkadot (DOT), a platform designed to allow interoperability among diverse blockchains, Morehead says in a CNBC interview that the 10th largest cryptocurrency by market cap will launch its first decentralized finance (DeFi) protocol in the first three months of 2022.
“I think we’re all coming to the conclusion that there won’t be just one blockchain in the future.
There will be you know maybe 10 or 20 very important blockchains.
And so Polkadot will help you move value from one to the other.
And their first DeFi protocols are going live in the first quarter so we’re very excited about it.
… We even see enterprises like Deutsche Telekom starting to build on Polkadot. And quite a number of developers are building on it. So we see a huge amount of momentum there.”
A little over a week ago, Germany’s telecommunications giant Deutsche Telekom announced intentions to become a Polkadot validator. A Deutsche Telekom subsidiary also bought DOT tokens.
Next up is Terra (LUNA), a blockchain that uses stablecoins to make programmable payments and the development of open financial infrastructure possible. According to the Pantera Capital head, Terra is one of the “most promising coins” for 2022.
“[Terra] allows the algorithmic stablecoins to be built and they have the third most valuable stablecoin UST built on top of it. And it’s growing at a very very rapid rate.
… We think it’s one of the most promising coins for the coming year.
So many people are just discovering it and just starting to trade it. It has a $31 billion market cap, so it still has plenty of room it can grow.”
Ranked ninth by market cap, Terra is trading at $87.63 at the time of writing, up by over 13,000% since the start of 2021.
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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/sdecoret
