According to him, Ethereum’s market perception has undergone cyclical changes, which he likened to trends going "in and out of fashion.” Reflecting on his decades of experience in traditional finance, Scaramucci explained: Related Reading: Crypto Market Will Peak In Mid To Late March, Predicts Arthur Hayes "When I got into the industry, biotech stocks were hot, then it flipped over to insurance stocks, and then it was the world of alternative investing in hedge funds […] We go through waves and cycles of what’s in and out of fashion.
I don’t think there’ll be one chain.” Ultimately, Scaramucci illustrated his broader stance on the crypto asset landscape, underlining Bitcoin as the undisputed market leader, yet insisting that alternative blockchains will also play crucial roles: "Bitcoin is the pope, but there’s a college of cardinals… that will be very useful in terms of what their applications are and their networks ultimately become over the next five to fifteen years.” At press time, ETH traded at $3,319.
Acknowledging the platform’s management shifts, he nevertheless remains optimistic: "I think [Algorand] lost a step when they made some management changes, but there’s a guy by the name of John Wood there […] I think he’s a very, very, very smart guy, and he’s putting some stuff together there, and I think that one is undervalued.” Sui And Aptos Rounding out his altcoin picks, Scaramucci also named Sui (SUI) and Aptos (APT) as projects with solid long-term prospects: "Sui and Aptos—I’m a long-term believer in those as well.
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