Altcoins
Arthur Hayes Doubles Down on Dogecoin (DOGE) and One DeFi Altcoin Amid Crypto Downturn
BitMEX Co-Founder Arthur Hayes Increases His Bullish Sentiment on Dogecoin (DOGE) and Pendle (PENDLE) despite the sudden slowdown in crypto.
Hayes tell its 524,900 followers on social media platform
“I love this choppy downward trend in shitcoin prices. I add PENDLE and DOGE to my bags.
DOGE is trading at $0.12 at the time of writing, up more than 2% in the last 24 hours. Meanwhile, PENDLE is trading at $5.65 at the time of writing, up almost 13% on the day.
Hayes, who is also an advisor to the Pendle project, was recently spotted will lock $8.4 million worth of PENDLE tokens until September 5 this year.
PENDLE, the platform’s native token, can be used to earn rewards by those who provide liquidity to the protocol. The PENDLE token lock can last up to two years and allows users to vote on governance proposals while earning 3% of all yield accrued by its Yield Bearing Tokens (YT).
Another project that Hayes said he is optimistic about is Ethereum (ETH) competitor Aptos (APT). Hayes predicted that the Aptos layer 1 (L1) smart contract blockchain will surpass Solana (GROUND) this market cycle in one to three years.
Aptos is trading at $6.81 at the time of writing, up more than 2% in the last 24 hours.
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