Alfred Chuang, general partner of venture capital firm Race Capital, said the organization expects bullishness in Bitcoin and DeFi platform Solana and is optimistic about the future of layer one (L1) blockchains. Chuang also shares why the demand for altcoin projects in this space is increasing.
Tier one altcoin projects provide a wide variety of financials
Speaking to CNBC, Chuang told CNBC that the excitement around cryptocurrencies has led to the generalized financial products that come with democratization and therefore reach more people. stated that the request was directed. According to Chuang, the potential growth of cryptocurrencies is the ‘most exciting time’ in technology, mainly due to its decentralized nature, which eliminates the need for intermediaries. As for the phrase “we are on the rise,” Chuang shared in the CNBC statement:
We are optimistic about Bitcoin and other tier one cryptocurrencies like Solana. There is an enthusiasm in the trading of currencies to create financial products that will be much more generalized and much more democratized in order to reach a much broader kidollarse. As
Kriptokoin.com , Coinbase’s senior executive Surojit Chatterjee, popular Twitter analysts Michaël van de Poppe and Austin Arnold recently He predicted that “layer-1 (Layer-1) blockchain projects” will be on the rise in 2022. Some of these projects, which also attracted the interest of Race Capital’s general partner Alfred Chuang, are listed below.
- Ethereum (ETH)
- Binance Smart Chain (BNB)
- Solana (LEFT)
- Cardano (ADA)
- Polkadot (DOT)
- Terra (LUNA)
- Avalanche (AVAX)
- Polygon (MATIC)
- Algorand (ALGO)
- 1) )TRON (TRX)
Chuang’s expectation coincides with that of Sam Bankman-Fried, founder of FTX
Young millionaire Fried, Ethereum believes the value of Solana (SOL) will increase, citing the unique core technology that suggests it competes with Based on this potential, Chuang stated that venture capital firms will increase their support for Blockchain-based firms. Chuang believes that the rapid crypto growth rate of products like DeFi means that VC firms will follow the industry sharply as it is a unique technology product.