Zhu Su: The flow of Bitcoin funds has changed in the ETF era, and altcoins need substantial catalysts for promotion
ChainCatcher news, ZhuSu, the founder of Three Arrows Capital, posted on social media saying, "The current market cycle has important differences from 2020-2021: Bitcoin funds flowing into ETFs and investment tools like MicroStrategy will not rotate to Ethereum, let alone other tokens. Unlike the previous frequent rotation between Bitcoin, Ethereum, Solana and other currencies in the market environment, other currencies now need substantial catalysts for promotion.
Without major events such as Michael Saylor switching to other currencies, simply claiming superiority over Bitcoin can no longer attract Bitcoin holders to shift their investments. Existing coin holders must have faith in the project and underlying protocols must be able to play their due roles."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SoftBank develops contingency plans for slowdown in US data center business, considers shifting to other countries
A new twist has emerged in the US AI data center investment boom. SoftBank is preparing for cooling US demand and a deteriorating political environment, and does not rule out shifting data center construction priorities to other countries. As cross-border computing power delivery capability improves and investment returns come under question, the logic behind AI infrastructure expansion is loosening, and over $3.5 trillion in infrastructure investment now faces potential impairment risks.
Quantumrail Cancels 10 Billion Won Convertible Bond Offering
Crypto prices
More
