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September 27, 2022

Altcoins for the Next Alt-Season

(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

Always the million-dollar question. While I don’t have a crystal ball for you, I may have some knowledge to provide guidance on your journey! 

In recent months, I’ve been seeing a narrative forming among altcoin investing, that’s in line with the broader-macro environment as a whole. While in previous cycles, coins pumped on hype and FOMO, some investors are now looking at the fees protocols are generating from their usage. So many retail investors got burned during this recent crash, so I believe this more first principles approach is appropriate today. 

Why are fees from protocols important? Well ladies & germs, it’s a direct sign of a protocol's usage & adoption! The fees generally go back to the DAO, and are used to further the proliferation of the protocol, or reward token holders. 

A great resource to see the fees accrued daily is:

WOW UNISWAP! Generating more fees than Bitcoin? You got that right, and I bet in the near future, the Uniswap DAO will vote to send a portfolio of the fees generated to the token holders. Cheers to passive income! 

Recently I've been closely following Arthur Hayes, Founder of BitMex, and I highly recommend his insightful Medium blog here. Looking at his known wallet on-chain, we can see he’s been accumulating since the lows in June and continues to buy more BTC, ETH, & altcoins including UNI, ENS, & LOOKS. Arthur appears to have bought into this narrative as well…

Anyways, in my time investing in crypto, I’ve learned that there’s a golden-middle path. Investing in category leaders tends to yield a better risk/reward profile than the more degen altcoins driven by pure hope. 

Thank you for reading!

Hayden Todd

Product Manager at Ember Fund

Investing in BTC since 2016


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