Arthur Hayes Predicts Market Narratives..."6 Projects to Watch"

Arthur Hayes, co-founder of global cryptocurrency exchange BitMEX, wrote a blog post on his blog about what he sees as the key narratives for the crypto market going forward and which projects to watch. Here's how Coinness sums them up

1. Retail derivatives trading volume will shift from centralized to decentralized exchanges: Decentralized cryptocurrency trading platform dYdX (DYDX), Decentralized derivatives trading protocol GMX (GMX).
2. The rise of ETH stakes will drive a surge in interest rate swap volumes on DeFi: DeFi interest rate protocol PENDLE (PENDLE)
3. DEX on-chain liquidity will be provided via middleware, bypassing market makers: NFT and DeFi platform Elixir
4. As DEXs become price discovery meccas, on-chain oracles providing settlement and liquidation prices will become more important: Layer 1 network flare (FLR)
5. Tether, which uses banks to store its fiat currency, will face negative public opinion that it can create a fiat-based stablecoin without relying on traditional finance: Ethena labs, issuer of stablecoin USDe
6. How to solve cross-chain bridging without building bridges will gain traction: Blockchain Interoperability Protocol Axela (AXL)