DeFiance Capital CEO Arthur Cheong says heโs watching three altcoins that he believes are fulfilling cryptoโs strongest narratives.
In a new interview with the When Shift Happens YouTube channel, Cheong says that crypto and blockchain technology are primed to fulfill the needs that the fintech industry once catered to.
Crypto and blockchain are well positioned to abstract away. And I think this is still true right now.
Obviously, there are a lot of issues, but from a first-principle perspective that makes sense. So I think this makes it worth investing in, and I think in the sense that you can say DeFi (decentralized finance) is a better form of fintech in a wayโฆ
I think fintech doesnโt actually bring anything new to finance anymore because whatever the technology part can bring to finance, the bank can do it themselves. The banks are doing the robo-advisors themselves, the banks are doing all these things themselves. Theyโre probably a bit slower but itโs not something they canโt catch up to in two or three years, so theres nothing really new there that fintech is bringing to the financial world.
Cheong names DeFi protocols Synthetix (SNX) and Aave, plus crypto gaming project Axie infinity (AXS) as altcoins that hes particularly bullish on.
โBut I think that DeFi is fundamentally a different paradigm. Its a different way of organizing the financial world. This is a sector worth investing in, so this has led me to invest in Synthetix, AAVE early on. Same for Axie [Infinity], which I think that looking at so many sectors, I think that gaming is also one of very few that makes sense with crypto.โ