Joe McCann shut down the fund after steep losses and strategic shifts towards long-term blockchain investments. The closure displays challenges in liquid crypto buying and selling amid heightened volatility, the place altcoins confronted over $200 million in liquidations as we speak alone. McCann cited diminishing alternatives in short-term buying and selling as markets matured.
The choice aligns with broader developments of capital shifting towards infrastructure and protocol improvement. McCann’s pivot to long-term holdings suggests confidence in blockchain’s foundational development regardless of market turbulence. This mirrors institutional preferences for Bitcoin and large-cap property throughout unsure intervals.
Fund closures might speed up as ‘disguised unemployment’ knowledge reveals protocol sustainability points. With solely 12-25% of main chains’ protocols producing income, traders more and more prioritize tasks with clear worth seize over speculative tokens. McCann’s transfer indicators a market maturation part.
This text is for informational functions solely and doesn’t represent monetary recommendation. Please conduct your individual analysis earlier than making any funding choices.
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Editor-in-Chief / Coin Push Dean is a crypto fanatic primarily based in Amsterdam, the place he follows each twist and switch on this planet of cryptocurrencies and Web3.
