fbpx
QQQ
-1.98
328.37
-0.61%
DIA
-0.62
344.85
-0.18%
SPY
-1.01
417.50
-0.24%
TLT
-0.29
137.37
-0.21%
GLD
+ 2.03
170.66
+ 1.18%

DeFi Blue Chip Season? Here's What Cryptos Coinbase Employees Are Buying Right Now

April 16, 2021 2:40 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
DeFi Blue Chip Season? Here's What Cryptos Coinbase Employees Are Buying Right Now

After the successful direct listing of crypto exchange Coinbase Global Inc (NASDAQ:COIN), a popular theory has emerged amongst crypto traders that Coinbase employees cashed out their shares for some popular cryptocurrencies.

What Happened: “Most Coinbase employees are going to be aware that cash and stocks aren't the valuable holdings they used to be, and they’re going to push those investments back into crypto,” said Adam Cochran, a partner at Cinneamhaim Ventures.

Cochran went as far as to collect survey responses from 108 Coinbase employees in order to identify what their top crypto picks for the next 30 days would be.

Ethereum (CRYPTO: ETH) seemed to be the asset to watch, as the majority of respondents were interested in investing in the digital asset, followed by Bitcoin (CRYPTO: BTC), which was the second-most chosen cryptocurrency.

Although the graph above is listed in order of largest to smallest market caps, Coinbase employees did not express too much interest in some higher market cap coins like Cardano (ADA), Bitcoin Cash (BCH), and Stellar (XLM).

Instead, cryptocurrencies like Compound (COMP), Aave (AAVE), Maker (MKR), Synthetix (SNX), and Balancer (BAL) seemed to be extremely popular choices.

DeFi investor at crypto-asset investment fund DeFiance Capital, Arthur shared a series of price charts on Twitter, depicting a steady rise of a few cryptocurrencies that are considered “DeFi blue-chips.”

“I think we see capital rotation to Eth DeFi soon with ETH breaking $3k and recapturing the market attention again. Time for blue chips season again,” he said.


Related Articles

Bitcoin Still Has Upper Hand Over Tesla Shares, Says Analyst Who Predicted Rise To $50K

An analyst who forecasted the apex cryptocurrency’s rise to $50,000 levels last year said Thursday that Bitcoin (BTC) has a relatively upper hand compared to Tesla Inc’s (NASDAQ: read more

Tesla Has Had A Major Bull In Cathie Wood's Ark. Now The Two Are At Odds Over Elon Musk's Bitcoin Stance

Cathie Wood-headed ARK Invest’s Director of Research Brett Winton is calling Bitcoin (BTC) a “novel economic institution” and said its potential outweighs its energy requirements — a stance diametrically opposite taken by Tesla Inc read more

Cardano, Dogecoin Spike As Bitcoin, Ethereum Lose Momentum On Elon Musk, Binance Jolts

As Bitcoin (BTC) and Ethereum (ETH) lose the spark, Cardano (ADA) and Dogecoin (DOGE) are seeing some smart gains. What Happened: BTC traded 0.62% higher at $50,150.95 at press time. The apex cryptocurrency, by market capitalization, has fallen 10.9% over a seven-day trailing period. read more

Coinbase Shares Rise On Q1 Revenue, To Offer Dogecoin In 6 To 8 Weeks

Coinbase Global Inc (NASDAQ: COIN) had its first quarterly earnings report as a publicly-traded company Thursday after market close. read more