Former BitMEX CEO Arthur Hayes, known for his bold statements about Bitcoin and the cryptocurrency market, warned investors.
Hayes urged investors to learn from EOS and avoid investing in overvalued projects.
BitMEX co-founder Arthur Hayes has warned individual investors to avoid overvalued projects and make investment decisions with caution in a new article.
In his new article, Arthur Hayes outlined the altcoin projects that investors should stay away from:
“Retail crypto investors need to say no to:
– VC-backed high FDV, low volatility projects
– Primary listings of overvalued tokens on CEXs
-Projects with low liquidity”
Hayes emphasized that investors should be more careful and do good research when investing in the future, and gave the example of EOS Network, which he thinks had the most value-destroying and unsuccessful ICO.
Hayes emphasized the importance of learning from failures like the EOS ICO. At this point, Hayes criticized EOS for being the most destructive ICO project of 2017, stating that EOS raised $4.1 billion in the ICO but then disappeared.
“There were indeed a lot of obvious ‘junk projects’ in the 2017 ICOs. One of the most disruptive ICOs was EOS. Block.one raised $4.1 billion in crypto to build EOS, but EOS almost disappeared after it launched.”
*This is not investment advice.