Gracy Chen, the Managing Director of Bitget, recently gave an interview in which she discussed various topics related to the crypto industry. She shared her thoughts on the current bull market, meme coins, AI tokens, and getting listed on crypto exchanges.
According to Chen, we are currently in a bull run, and she estimates that we are about 30% to 40% into it. She pointed out that the price of Bitcoin has doubled since October 2023, indicating the upward trend of the market. She also highlighted two important factors influencing the crypto market: the halving event and speculation about US interest rate cuts. These macroeconomic factors are having a significant impact on the price of Bitcoin.
When it comes to meme coins, Chen expressed her reservations. She believes that most meme coins are driven by emotions, community, and social media. While they can be a popular asset class, they are also extremely volatile and lack fundamental value. Chen advises her friends to have less than 5% of meme coins in their portfolios. However, she acknowledged that meme coins can attract a new audience and serve as an entry point for people interested in the crypto world.
Chen emphasized the importance of on-chain data in evaluating projects for listing on the Bitget platform. She stated that on-chain data is transparent and cannot be manipulated. By analyzing this data, the Bitget team can determine the trading volume and the number of wallets holding a particular coin. They also look at social media engagement and interactiveness to get a comprehensive view of a project.
AI tokens were another topic of discussion. Chen believes that AI coins represent the best of both worlds: AI and blockchain. While there may be some overvaluation in the current market, AI is fundamentally changing our lives and has long-term growth potential. Chen also mentioned the growing popularity of AR NFTs but noted that they may not have the same long-term potential as AI.
In the interview, Chen also discussed her background and journey in the crypto industry, the dynamics of the current bull run, the outcomes of the Bitcoin halving event, the surge in meme coin popularity, and the transparency of Bitget regarding the Slerf meme coin incident. She also touched on potential partnerships and opportunities with Ethena and the state of AI integration within blockchain platforms.
Overall, Chen provided valuable insights into the current state of the crypto market and shared her perspectives on various aspects of the industry.
