DeFi Visionary Reveals Hot Picks Among Altcoins
Arthur Cheong, CEO of DeFiance Capital, recently shed light on three alternative cryptocurrencies that have caught his attention for their alignment with prevailing narratives in the crypto space.
In an exclusive interview with the “When Shift Happens” YouTube channel, Cheong delved into the transformative potential of crypto and blockchain technologies, emphasizing their capacity to meet the evolving demands that were historically catered to by the fintech industry.
Cheong asserted that crypto and blockchain stand at the vanguard of abstraction, undeterred by the myriad challenges they face. From a foundational standpoint, he sees these technologies as an enticing prospect for investment. Drawing parallels, he posited that decentralized finance (DeFi) could be viewed as a more evolved iteration of fintech.
Fintech, in Cheong’s view, has lost its innovative edge in the financial sector. He argued that whatever technological novelties fintech introduces, traditional banks can eventually replicate. While acknowledging potential delays in the banking sector’s uptake, he anticipates a swift catch-up, thereby eroding the distinctiveness of fintech contributions.
READ MORE: Apple Removes Top Crypto Exchanges from Indian App Store
Cheong specifically highlighted his bullish outlook on three DeFi altcoins: Synthetix (SNX), Aave, and the crypto gaming initiative Axie Infinity (AXS).
Intriguingly, Cheong perceives DeFi as a paradigm shift in the organizational structure of the financial world, presenting an alluring sector for investment. This conviction prompted him to make early investments in Synthetix and AAVE. Additionally, he singled out Axie Infinity as a noteworthy venture within the gaming sector, aligning seamlessly with the ethos of the crypto space.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
