An executive from digital assets investment firm Pantera Capital is predicting that GMX and one other decentralized exchange (DEX) altcoin will soon begin to outperform and steal value away from Uniswap (UNI).
Portfolio manager Cosmo Jiang says in a thread on the social media platform X that decentralized perpetual trading platforms GMX and dYdX are set to outshine Uniswap by having clearer token value accrual mechanisms.
Jiang says that Uniswap’s new fee structure may end up benefiting Uniswap’s stakeholders more than its users. He suggests a token’s value should derive outside of such fees, and predicts a major trend shift in the DEX ecosystem.
Says Jiang,
“Uniswap Labs is welcome to do what they need to do what they choose to create value for their stakeholders. This isn’t a judgment on that.
As a fundamentals-focused investor though, I care deeply about if a token accrues value…
In general, I’m already bullish these secular trends:
- DEX taking share from CEX
- Perps (perpetual futures) taking share from spot.
The UNI news just makes me even more bullish on perps tokens that do have fundamental value.”
Uniswap is trading for $4.22 at time of writing, up 3.6% in the last two weeks. Meanwhile, GMX is trading for $40.44 at time of writing, up 12.4% in the last two weeks. And dYdX is worth $2.47 at time of writing, up 28.2% in the last two weeks.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Featured Image: Shutterstock/Zalevska Alona UA