Pantera Capital Portfolio Manager Bullish on GMX and One Additional DEX Coin
A Pantera Capital portfolio manager is predicting that GMX and another DEX altcoin will soon outperform and take value away from Uniswap.
Cosmo Jiang says on social media that decentralized perpetual trading platforms GMX and dYdX will outshine Uniswap because they have clearer token value accrual mechanisms. Jiang argues that Uniswap’s new fee structure may benefit stakeholders more than users, and that a token’s value should come from outside of fees. He predicts a major trend shift in the DEX ecosystem, with perpetual futures taking market share from spot trading.
Uniswap Labs can do what they need to do to create value for their stakeholders,” Jiang said. “This isn’t a judgment on that. As a fundamentals-focused investor though, I care deeply about whether a token accrues value. In general, I’m already bullish on these secular trends: DEX taking share from CEX and perps (perpetual futures) taking share from spot. The UNI news just makes me even more bullish on perps tokens that do have fundamental value.
Clever Robot News Desk 25th October 2023
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