Ethereum bearish case tetras
Market sentiment surrounding Ethereum has turned bearish, and several major crypto funds maintain short positions on the asset. Last year, Ethereum was on top of the world. Short-selling would have been unthinkable at a time when the ICO market was red-hot, double-digit daily rallies were the norm, and many believed Ether would surpass Bitcoin's dominant position in the cryptocurrency universe. But instead of growing to surpass Bitcoin, Ether settled into second place.
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Content:
- In defense of Ethereum and its fatness: why I’m still bullish on ETH
- Scaling Issue: Major Reason for Cryptocurrency Hedge Funds Shorting Ethereum
- Single Sided-Farming on Any DEX Via Orbs Liquidity Nexus — Part 2
- Noted Hedge Fund Says Crypto Hasn’t Bottomed Yet
- The Bridge between Crypto and Regulated Markets
- The Bitcoin/Blockchain syllabus
In defense of Ethereum and its fatness: why I’m still bullish on ETH
Before Tetras, Sunnarborg did a stint in investment banking and founded crypto exchange and research app Lawnmower, which was acquired by CoinDesk in Sunnarborg: In a bull market when everything is going up, especially when bitcoin is going up, altcoins generally will return more than bitcoin. In when we launched, we were looking to make altcoin trades. In a bear market, altcoins are still trading at a higher beta, but to the downside. Obviously, that went well. Was it your biggest win for ?
If bitcoin turned tomorrow and rallied, I think ether would, too. Sunnarborg: Yeah. ConsenSys is an integral piece of the Ethereum ecosystem. All the Ethereum decentralized applications and products it supports have had minimal user growth. It has a market cap of hundreds of millions. People are talking about launching on Dfinity or Polkadot.
At least at a high level, it does not look or feel good. It looks like a drop in momentum and steam. We have not held ether since we first published our short thesis in July We then went short ether, and we have taken that position off three or four times in We can hedge ourselves, remain more neutral and not have to call that exact price or timing bottom.
Our portfolio is relatively neutral—we have cash and short positions. And if the market were to turn right now, what liquid altcoin sector would we even look at? Just by cutting that out, you are left with a very small handful of assets. Sunnarborg: I think Mimblewimble and Grin are pretty interesting—the fair launch process, the focus on privacy and the inflation. I think zcash and monero are both still interesting. Sunnarborg: Another huge thing for me is the security.
Unfortunately, in the crypto space, security and price are generally very correlated. So, as the price of ether falls, it gets less secure.
Do you like that project? Sunnarborg: I find the concept of digital land very interesting, because of its scarcity. I like the concept of digital scarcity. This land asset seems interesting as something I could own and build on, and maybe charge players a fee for. I could sell it to someone else in the future. The value actually makes sense to me. You have to use mana to buy land. I think the ICO was just done to raise money.
Are you bullish on it? Sunnarborg: No. The whole governance system, with 21 block producers that can essentially make, vote, or deny everything, is a weird concept to me. Forbes : What should investors be monitoring for signals about where the market is headed? Sunnarborg: One of the big, fundamental things I want to see is whether the Fidelity crypto trading product actually rolls out in March.
And do people actually start to use it? Will it get approved, and are people going to use it? And how does the composition of global exchange volume start to shape up from here? Does volume increase on regulated, brand-name platforms—platforms that the next wave of institutions would actually trust? Can we start to trust crypto data more, like trading volume numbers?
We need more regulated, trusted players to improve the trading venues, because I think right now the SEC and many people are scared of manipulation, hacks and very shady venues for trading. What would be really good for a market bottom to happen would be for every potential bad thing to happen immediately. I would love to see the SEC come down on people really hard. One of the biggest problems in this space is there are so many bad actors, and so many were related to ICOs.
The SEC just has such a massive task ahead of them. One way to think about the bottom is that it happens when all the bad news gets washed out. It probably would have been helpful for the bottom if the VanEck exchange-traded fund would have gotten totally rejected; if the SEC slapped some more of these people around and essentially maximum pain came onto the market. At that point we would see where, if any, buyers jumped in.
All Rights Reserved. Skip to main content. Advertise Subscribe. Close Menu. Forbes : How would you describe your investment strategy? Forbes : Are you currently short ether? Forbes : Has bitcoin bottomed yet? Forbes : Among privacy coins, which do you like best? Forbes : Can you explain what Grin did to create a fair launch?
Forbes : What other factors do you look at? Sign Up for Our Newsletter Daily Update Get the best of Forbes Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Scaling Issue: Major Reason for Cryptocurrency Hedge Funds Shorting Ethereum
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Single Sided-Farming on Any DEX Via Orbs Liquidity Nexus — Part 2
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Noted Hedge Fund Says Crypto Hasn’t Bottomed Yet
Before Tetras, Sunnarborg did a stint in investment banking and founded crypto exchange and research app Lawnmower, which was acquired by CoinDesk in Sunnarborg: In a bull market when everything is going up, especially when bitcoin is going up, altcoins generally will return more than bitcoin. In when we launched, we were looking to make altcoin trades. In a bear market, altcoins are still trading at a higher beta, but to the downside.
The Bridge between Crypto and Regulated Markets
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The Bitcoin/Blockchain syllabus
Utilising a technique that is very well known and utilized extensively in the traditional stock market, investors are shorting their ether holdings. Shorting is when an investor borrows shares and sells them as soon as possible with the longtime plan of scooping the shares back when they are at lower prices and hence benefitting from the price difference between them. The number of high profile companies and investors that are shorting the cryptocurrency is insane. The Ethereum Blockchain at this point can only do about 15 transactions a second and with not more than 5, users on any of their applications that are running on the platform, the blockchain is nearing its full capacity. Another reason that investors are convinced that the cryptocurrency is about to take a monumental fall is that the company Ethereum is not controlled by one governing body or company, it has multiple companies running on its platform and is essentially an independent incubatory service for cryptocurrency projects and startups.
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That may have summed up the state of affairs Tuesday, hours after the Forecast Foundation, the non-profit behind the Augur protocol, announced the launch of its decentralized platform for betting on the outcome of events. By UTC, the first prediction markets were being created, and by day's end, new bets were being placed on everything from U. As decentralized applications apps powered by blockchains but operated by no single entity are a new phenomenon, there remain few ways to gauge whether one could meet any criteria for success. Still, a useful method might be to compare Augur's use to that of other major dapps , and on that front, there's an argument Augur is doing well.
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