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154 shares, 367 points

Zhu Su, CEO of cryptocurrency hedge fund Three Arrows Capital, shares his opinion on why popular altcoin projects Cosmos (ATOM), Phantom (FTM) and Near (NEAR) are gaining in value even as the rest of the market is bearish. offers. Details at Kryptokoin.com .

3 altcoin projects on the rise

CEO Su, in a series of tweets, stated that the three cryptocurrencies, He says it is among the cryptocurrencies that macro investors hold the least. According to the crypto hedge fund CEO, macro investors are exiting their crypto positions as the Federal Reserve begins to cut back on asset purchases, also known as contractions. Su said macro investors entered crypto positions after the market crash witnessed in March 2020 at the height of the Covid-19 pandemic. The CEO said on the subject:

A path-bound fact of history is that the swamp of Covid-19 March 2020 has unfortunately wiped out many true believers, crypto lovers, who are waiting for the halving. As it rose, it received an offer from macro funds looking for a higher beta play on cryptocurrencies. I am in the camp of those who think that crypto money will rise anyway, with or without Covid-19. The Bitcoin/S&P 500 stock index correlation has increased significantly. What we’re seeing right now is macro fund positions unraveling as contraction approaches. I expect much lower S&P 500 stock index/crypto correlations going forward. It’s no coincidence that the crypto macro-padollarges with the least hold the best (Near, ATOM, FTM) at current levels.

Cosmos (ATOM) is currently trading at $43.93, up 80% in the last 30 days. Phantom (FTM) is trading at $2.83, up 77% over the past 30 days, and Near is trading at $15.39 on the day it changed hands seven days ago. NEAR has increased by just over 100% in the last 30 days.


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