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

A crypto investor from Crypto Valley Venture Capital is reportedly keeping a close eye on some of them Ethereum (ETH)-Competitors with growth potential.
In a new Business Insider report, says Olaf Hannemann, the founder and chief information officer of the Blockchain-focused venture capital firm that it’s about Bitcoin (BTC) There are also a number of interesting projects in the smart contract platform space, led by Ethereum.

“[A] Our basic view is to favor protocols where people actually develop projects. Our view of Ethereum is fundamentally positive. It’s still the focal point for a lot of projects and I think there’s still a positive dynamic.”

In addition to Ethereum, the venture capitalist says he likes several of ETH’s competitors.

“There’s a lot of capital in Ethereum, but there’s also Tezos and Cardano. We like too Solana and polka dots.

There are projects dealing with stacks that offer applications built on top of bitcoin. Avalanche is also one to watch, and more recently we’re looking at the NEAR protocol.”

Tezos (XTZ) is a platform that allows developers to create smart contracts and decentralized applications for products and services. while 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 interoperability protocol. Meanwhile, Near Protocol (NEAR) is a developer-focused blockchain designed for scalability and stability

Looking to the broader future of cryptocurrencies Hannemann sees more mainstream money in the markets, but that won’t necessarily eliminate the volatility that has been a hallmark of the digital asset space since its inception a decade ago.

“More established capital is also coming in. It has different market dynamics than traditional established markets. Something that is both a challenge and an opportunity is that you are able to trade on extremely high leverage positions. This will mean a very volatile market in the short term.”

When it comes to the ultimate winners and losers after the crypto space matures, the venture capitalist says:

“Basically, our investment thesis is that we believe blockchain technology is a catalyst for many other megatrend technologies that are happening now, such as machine learning, Internet of Things, personalized healthcare, and longevity.

I think in the long term the jury is still out on whether there will be one or two endgame winning protocols or whether there will be many different blockchains for different industries.

You get evangelists who genuinely believe that one blockchain is better than the other, but guess what, I might have the better protocol, but if I can’t convince startups to build on my protocol, I’m going to lose in the medium term. ”
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Source: Crypto News Deutsch

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