While altcoins continue to be in the focus of investors, Grayscale research head Zach Pandl said that investors in the cryptocurrency market are chasing altcoins such as Zcash and Hyperliquid.
However, Pandl says the real opportunity may lie in large smart contract networks that investors are overlooking. At this point, Pandl noted that Ethereum, Solana, and BNB are not currently a common choice among investors.
Investors’ Focus is Shifting!
Zach Pandl stated that while investor interest is focused on projects like Zcash and Hyperliquid, the potential of Ethereum, Solana, and BNB is not being sufficiently assessed.
Pandl noted that these three major smart contract networks have not yet become a common preference among investors. He pointed out that investors might overlook the networks that form the core infrastructure of the crypto ecosystem while focusing on new opportunities. The expert emphasized the importance of Ethereum, Solana, and BNB, urging investors not to disregard the classics.
Pandl highlighted the importance of ETH, SOL, and BNB, while also acknowledging that Zcash has achieved a remarkable position in the financial privacy space and Hyperliquid in the perpetual futures market.
However, he noted that interest in these projects should not overshadow the long-term potential of large smart contract networks. According to Pandl’s assessment, the widespread adoption of blockchain-based financial services could bring the importance of established networks back into focus.
Finally, Pandl stated that he does not expect the Fed to make another interest rate hike this month. He said that raising rates right before the upcoming election would be somewhat bold, so he does not expect a rate hike in October, but that another hike in December is possible.
However, he noted that Bitcoin and altcoins could withstand one to three minor interest rate hikes, as a tightening like the 500 basis point increase expected in 2022 and 2023 is not anticipated.
*This is not investment advice.
