The altcoin market is under scrutiny as skepticism mounts over the transparency and sustainability of newly listed tokens. DeFiance Capital founder Arthur Cheong likened the current landscape to a ‘lemon’s market,’ where undisclosed partnerships between projects and market makers may artificially inflate prices. His warnings follow the dramatic collapse of MANTRA’s OM token, which lost over 90% of its value in an hour, reigniting concerns about insider trading and flawed tokenomics. Data from Tangem reveals that over 12,000 cryptocurrencies have failed since 2013, with scams, abandoned projects, and failed ICOs among the leading causes. Cheong calls for industry reform to restore investor trust, as many altcoins remain uninvestable due to poor market practices.
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DeFi Sector Shows Strong Product-Market Fit According to Investor Arthur Cheong
Arthur Cheong, CEO of DeFiance Capital, asserts that decentralized finance (DeFi) is currently the crypto sector with the most significant product-market fit. Despite past challenges, including hacks and unsustainable metrics, certain protocols have shown resilience and growth post-incentives. Cheong believes DeFi is maturing, paving the way for innovation and scalability, as the industry learns from previous failures.
read moreTrump’s DeFi Venture Leverages Aave and Ethereum for New Project
Former President Donald Trump’s new DeFi venture will utilize Aave and the Ethereum blockchain, focusing on a credit account system. The project, described as a non-custodial feeder into Aave, aims to onboard new users to the DeFi space while being open source and secure, with top-tier auditors involved. Despite market fluctuations, Aave’s prominence in the DeFi lending sector remains strong, commanding a significant share of the market.
read moreVitalik Buterin Faces Backlash Over DeFi Critique and Oracle Risks
Vitalik Buterin faced criticism for his skepticism towards DeFi’s impact on Ethereum’s growth, suggesting it relies too heavily on the existing ETH market. DeFi leaders, including Arthur Cheong and Hugo Philion, countered that DeFi has significantly contributed to Ethereum’s valuation and highlighted the overlooked risks posed by centralized oracle services, which secure around $40 billion in value.
read moreVitalik Buterin Faces Criticism for Downplaying DeFi’s Impact on Ethereum
Vitalik Buterin has faced criticism from the DeFi community after downplaying its role in Ethereum’s growth, suggesting that DeFi’s potential is limited and dependent on the ETH market. Influential figures like Arthur Cheong and Sam Kazemian countered his views, emphasizing DeFi’s significant contribution to Ethereum’s value and usage. Despite the backlash, Buterin advocates for sustainable decentralized applications and stresses the importance of integrating DeFi with other decentralized technologies to uphold core crypto values.
read moreARC launches crypto incubator with 4.5 million funding raise
ARC, a Singapore-based NFT-gated community, has raised $4.5 million to launch a crypto incubator modeled after Y Combinator. The initiative aims to support Web2 brands and Web3 projects in Asia by providing funding, mentorship, and a robust ecosystem for project development and market launch.The fundraising effort involved 163 members, led by Arcane Group, and emphasizes community backing as a key to success in the Web3 space. Co-founder Elroy Cheo highlighted the importance of assembling strong teams and leveraging global connections to drive innovation.
read moreCrypto Funds Maintain Bullish Stance on Solana Amid Market Volatility
Crypto funds are maintaining a bullish outlook on Solana (SOL) despite recent market turbulence, with several investors highlighting its undervaluation compared to Ethereum. Firms like Asymmetric Financial and Syncracy Capital emphasize strong fundamentals in DeFi and infrastructure sectors, while Maven 11 and DeFiance Capital are positioning for growth in stablecoins and DeFi assets. Pantera Capital continues to diversify its investments across various sectors, reflecting a broad interest in the evolving crypto landscape.
read moreCrypto Veteran Arthur Cheong Highlights Undervalued DeFi Sector and Crypto’s Future
Veteran crypto investor Arthur Cheong believes that decentralized finance (DeFi) presents a significant opportunity for long-term holders, considering it to be undervalued compared to traditional finance. He also anticipates continued growth in the crypto market, particularly with the launch of spot market Ethereum exchange-traded funds (ETFs), and suggests that crypto may not be optimized for mass adoption, but rather for specific high-impact use cases.
read moreSynthetix’s Bullish Surge: Andromeda Release and Analyst Predictions Drive Attention
Synthetix (SNX) has surged over 13% to $1.93, securing the top gainer spot on CoinMarketCap. The bullish run is attributed to the protocol’s ability to create synthetic assets on the Ethereum blockchain, with analysts predicting a potential surge beyond $5.5. CEO Arthur Cheong remains bullish about Synthetix, Aave, and Axie Infinity, emphasizing DeFi’s potential to outperform traditional fintech solutions. With recent updates strengthening its DeFi protocol, Synthetix continues to attract investor attention and is expected to make further gains in the near future.
read moreThe Potential of Crypto and Short-Term Bitcoin Outlook by Venture Capitalist
Venture capitalist Arthur Cheong believes that while crypto may not achieve mass adoption like the internet, it can still bring about significant changes in specific financial sectors. He also predicts a rally for Bitcoin following increased interest from traditional finance, and notes a shift towards quality projects in the crypto market. At the time of writing, Bitcoin is trading at over $60,000, up more than 3% for the day.
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