BitMEX founder Arthur Hayes released another article this morning. This time, the article does not discuss complex financial perspectives but rather the power of storytelling in cryptocurrency investments, which is more important than the technology itself.
Arthur Hayes believes that investment decisions are often based on the appeal and spreadability of stories, rather than the complexity or innovation of technology. In the article, he points out that a good and widely spread story can drive up the value of related tokens, while technical details are difficult for most investors to comprehend, so they play a smaller role in investment decisions.
Arthur Hayes calls himself the “Chief Storyteller” and emphasizes that his job is to tell stories that are attractive and easily spread, rather than diving into technical details. He points out that even investment teams without a strong technical background can succeed by identifying and spreading powerful stories. This strategy relies on the acceptance and spread of project stories by the community and the market, rather than the technical innovation of the project itself.
In addition, Arthur Hayes shares in the article the “stories” behind the altcoins that his venture capital firm Maelstrom Capital has invested in.
Retail derivative trading volume will shift from centralized exchanges to decentralized exchanges.
Related projects: dYdX, GMX, and possibly other challengers.
The launch of ETH staking will stimulate a surge in interest rate swap trading volume in DeFi.
Related project: Pendle.
There is a way to drive Quanto derivative trading volume on decentralized exchanges by using low-market-cap cryptocurrencies worth billions of dollars.
Related project: Krav.
The on-chain liquidity of decentralized exchanges will be provided by intermediaries, replacing market makers currently in the market.
Related project: Elixir.
As decentralized exchanges become the main venue for price discovery, on-chain oracles that provide prices for settlement and clearing will become increasingly important.
Related project: Flare.
Tether and any stablecoin that relies on traditional financial banks for fiat custody will face pressure. We can create fiat-pegged stablecoins that do not rely on traditional finance.
Related project: Ethena.
How to solve asset cross-chain interoperability without using cross-chain bridges.
Related project: Axelar.
Lastly, Arthur Hayes concludes that the public’s attention and focus are now on the Bitcoin spot ETF listed in the United States. Coupled with the global devaluation of fiat currencies, this will drive the USD value of Bitcoin to unimaginable heights. Additionally, the upcoming Ethereum ETF in the United States will also boost the price of Ether. However, Arthur Hayes states that he already has enough holdings of Bitcoin and Ether and will now shift his focus to altcoins.
