BlocksInform
The investor who specifically called the crypto down-market says that 2.200% of the gains could be in reserve for an altcoin trend.
Chris burniske, venture capital partner placeholder company, which piles (), a project aimed at stimulating the usefulness of Bitcoin (), has much more positive potential than people realize.
Burniske told a Twitter feed that although the Ethereum layer 2 ecosystem () has attracted new equity and interest, Bitcoin has so far lagged in this regard because of market participants who are backing away from making the blockchain flagship programmable.
However, burniske says that the ecosystem of Bitcoin layer 2 can be close to having its time, and with little competition, stx can reap the benefits.
'Because people have relinquished Bitcoin programmability, piles has little competition, while competition between ethereum L2 is stiff. During this time, the largest layer-2 on Ethereum is MATIC, which at $12.4B completely diluted network-value (FD NV) is 6.4% of ETH NV.
STX is valued at $1.36 billion FD NV, representing 0.28% of BTC's NV value. A revaluation of the relative value of MATIC relative to its layer 1 would imply an ~23X, and this does not account for the appreciation of bitcoin."
At the time of writing, STX is trading at $0.932, a 238 per cent increase this month.
Burniske also a number of crypto assets that he finds interesting including:
- Dogecoin (
- Toncoin (
- Lido DAO (
- Internet Computer (
- Algorand (
- Decentraland (
- Axie Infinity (
