BitMEX co-founder Arthur Hayes is feeling increasingly optimistic about Dogecoin (DOGE) and Pendle (PENDLE) despite the recent downturn in the crypto market. Hayes, who has a significant following on social media platform X, believes that both DOGE and Pendle have more potential for growth in this market cycle. DOGE, a memecoin, is currently trading at $0.12, showing a 2% increase in the last 24 hours. PENDLE, on the other hand, is trading at $5.65, with a 13% increase in the same time frame.
Hayes, who is also an advisor for the Pendle project, recently locked up $8.4 million worth of PENDLE tokens until September 5. PENDLE, the native token of the Pendle platform, allows users to earn rewards by providing liquidity to the protocol. By locking up PENDLE tokens for up to two years, users can also vote on governance proposals and earn 3% of all the yield accrued by its yield-bearing tokens (YT).
Hayes also expressed his bullish sentiment towards Aptos (APT), a competitor of Ethereum (ETH). He predicts that Aptos, a layer-1 (L1) smart contract blockchain, will surpass Solana (SOL) in market dominance within the next one to three years. Aptos is currently trading at $6.81, showing a 2% increase in the last 24 hours.
It is important to note that the opinions expressed by Hayes are not investment advice, and investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets and is not an investment advisor.
