According to Matt Hougan, chief investment officer of Bitwise Asset Management, investors are venturing beyond Bitcoin to buy altcoins that are about to explode.
In one interview with Bloomberg Technology’s Emily Chang, Hougan Seems to be Bullish on Ethereum, Polygon, and Solana
Ether, the crypto that runs on Ethereum, is a decentralized open source blockchain system. Decentralized smart contracts can also be executed on Ethereum
An alleged goal of Ethereum is to become a decentralized application platform that enables users around the world to write and run software that is resistant to censorship, fraud and downtime.
“It looks like there will be an explosion of Cambrian activity around Ethereum and other Layer 1 solutions.
“I think investors will be looking at Ethereum, Solana and Polygon”, Hougan said.
Solana facilitates the creation of decentralized applications (DApps). Through the introduction of proof of story consensus, combined with the underlying proof of stake consensus of blockchain, scalability is enhanced.
Traders, both small and institutional, are drawn to the Solana hybrid consensus model because of its innovative features.
Investors are now looking beyond Bitcoin, according to Hougan.
“There are a lot of investors who got their feet in the water with Bitcoin in 2020, 2021 and are now discovering that crypto isn’t just about Bitcoin. Next year everything else will be the big story.
“Crypto will be decentralized finance (DeFi), crypto will be non-fungible tokens (NFT), crypto will be web 3.0, crypto will be the metaverse. These are the predictions made by investors ”, he said.
It is the first scalable and user-friendly Ethereum infrastructure platform based on Polygon (formerly called Matic Network). Polygon SDK is the central component of the system, a modular and flexible framework that allows you to create a wide range of applications
With Polygon, Ethereum is effectively transformed into a multi-chain network (also known as the Internet of Blockchains). With Ethereum’s security, vibrant ecosystem and openness, this multi-chain system is similar to others like Polkadot, Cosmos, Avalanche, etc.
The executive said he would choose Ethereum, the second largest crypto by market value if he had to choose between Bitcoin and Ethereum.
“The asset of the year, in my opinion, was Ethereum. I love all of my kids the same, but if you need me to pick, Ethereum was. My expectations for its future performance are reasonable this year.
“The blockchain is currently experiencing such positive activity” he said.