Crypto Venture Capitalist Says He’s Bullish on Several Ethereum Rivals Amid Shift in Crypto Market Dynamics: Report

Crypto Valley Venture Capital crypto investors are said to be keeping a close eye on several Ethereum (ETH) competitors that are showing growth potential.

In a new report by Business Insider, Olaf Hahnemann, founder and chief information officer of blockchain-focused venture capital firm Bitcoin (BTC) moves to Ethereum in the field of smart contract platforms.

“”[A] Our primary view is to support the protocol in which people actually develop projects. Our outlook on Ethereum is generally positive. This is still a haven for many projects, and I think there is still positive momentum. “

In addition to Ethereum, venture capitalists say he likes some of the ETH competitors.

“Ethereum has a lot of capital, but it also owns Tezos and Cardano. I also like Solana and Polkadot.

I have a project considering a stack that provides an application built on Bitcoin. Avalanches are also worth noting, and we are currently studying the NEAR protocol. “

Tezos (XTZ) is a platform that allows developers to create smart contracts and decentralized applications for products and services. On the other hand, Cardano (ADA) is a scalable decentralized blockchain platform.

Solana (SOL) is a Layer 1 smart contract platform like Avalanche (AVAX) and Polkadot (DOT) is a cross-chain interactive operating protocol. On the other hand, Near Protocol (NEAR) is a developer blockchain designed for scalability and stability.

Looking at the broader future of cryptocurrencies, Hahnemann expects more mainstream money to enter the market, but it doesn’t necessarily cancel out the volatility that has characterized the digital asset space since its inception 10 years ago. There is no.

“Also, more and more solid capital is coming in. It has different market dynamics than traditional established markets. Something is challenging and opportunity at the same time, you are very important and that means you can trade in high leverage positions, which will result in a very volatile market on the Short-term. “

Regarding the ultimate winners and losers after the crypto space matures, venture capital investors say:

“Our investment papers fundamentally believe that blockchain technology is the catalyst for many other technologies happening today, such as machine learning, the Internet of Things, personalized medicine, and longevity…

In the long run, I think the jury is still out on whether there will be one or two winning protocols at the end of the game, or different blockchains for different industries.

Some evangelists really believe that blockchain is better than others, and I may have a better protocol, but I want startups to build on my protocol if you can’t convince yourself, you’ll lose out in the medium term. “

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Featured Images: Shutterstock / Art Production / Natalia Siiatovskaia

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