Cryptocurrencies such as Bitcoin and altcoins have experienced significant declines due to macroeconomic uncertainty and fears over US tariffs.
Uncertainty Factors in the Crypto Market
Macroeconomic instability and potential tariff changes in the US have negatively impacted the crypto market, leading to declines in Bitcoin and altcoin prices.
Prospects for DeFi and Altcoins
Bitwise's Chief Investment Officer, Matt Hougan, believes the DeFi sector is significantly undervalued, despite the current struggles of altcoins. He highlighted the growth potential of projects like Uniswap (UNI), Ondo, and Aave in a new regulatory environment.
Bitwise's ETF Plans
Matt Hougan also discussed altcoin ETFs, noting that layer 1 blockchains such as Sui (SUI) and Aptos (APT) attract institutional investors. Bitwise has filed for an Aptos ETF but not yet for SUI.
Despite current market fluctuations, the prospects for DeFi altcoins and the possibility of new ETF launches may attract investors in the future.
