The crypto market is seeing tons of technological innovation and many investors are looking to get in early, something only the digital-asset space can offer, said Noelle Acheson, head of market insights at Genesis Global Trading. They can either participate via the private venture-capital market or they might be intrigued by Ethereum, she said.
“Or they’re going to be going even further down the market cap, and they’re going to be looking at some of the new layer-1s that are coming up with new ways to incentivize participation, new ways to offer yield, new ways to experiment with governance,” Acheson said by phone. “There are some fascinating things going on with many of the smaller layer-1s.”
Acheson also points out that Bitcoin’s command over the market has waned. The reading gives market-watchers an idea of prevailing sentiment. A lessening in its market-dominance can be seen as supporting “an increasing role for the rest of the market, which represents the innovative technology” side of it, she said.
This article was provided by Bloomberg News.