Venture capitalist Arthur Cheong, the founder of DeFiance Capital, predicts that the next 100x opportunities in the crypto space will be found in projects that lack significant venture capital (VC) backing and are not traded on centralized exchanges (CEXes).
He believes that crypto projects without VC investment and CEX listing will offer the greatest gains. Cheong also criticizes VC coins, stating that they will likely continue to perform poorly due to their tokenomics and selling by airdrop farmers.
Cheong recently highlighted Akash Network (AKT) as an “extremely promising” project in the cloud-focused decentralized finance (DeFi) sector. Despite receiving little attention on crypto Twitter, the project has seen a substantial price increase in 2023. Cheong emphasizes that investors do not need to chase every short-term narrative to achieve significant gains, as Akash Network’s success demonstrates.
At the time of writing, Akash Network is trading at $1.48, marking an 8.8% increase in the last 24 hours. Ranked 105th by market capitalization, AKT has surged over 148% in the past two weeks.
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