Pangea Fund CEO Predicts Bull Market Imminent, Highlights Solana, AI

IconCryptoNewsTerminal Staff24 Jul, 2024

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Pangea Fund CEO Predicts Bull Market Imminent, Highlights Solana, AI

Pangea Fund Management CEO Daniel Cheung recently shared his optimistic outlook for the cryptocurrency market, comparing the current climate to that of late 2020, just before the bull market took off. He believes that Solana and AI will be key trends driving growth. Cheung emphasizes the importance of Solana's fast transaction speeds and low fees for handling the high volume of activity associated with decentralized finance (DeFi) and non-fungible tokens (NFTs). He also highlights the transformative potential of AI, particularly in the areas of image and language processing, which could create new investment opportunities. While acknowledging the recent surge in meme tokens, Cheung cautions that their sustainability in terms of trading volume is questionable due to the overhang in token supply. He acknowledges the difficulty in profiting from them given these market dynamics.

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