๐จ Urgent: Arthur Hayes describes Circle as "overvalued" and warns of a "bubble of stablecoin mania" for investors! ๐ฅ
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๐ฃ๏ธ Sharp warning from the founder of BitMEX:
Arthur Hayes describes Circle as "significantly overvalued." He warns of an upcoming wave of stablecoin launches, calling them a "trap" for investors.
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๐ก Why this strong warning?
โ Lack of distribution: Hayes sees the failure of new companies without strong distribution channels (exchanges, banks, social media).
โ "Stablecoin mania bubble": the market is heading towards a bubble with inflated valuations.
โ Risks for investors: he considers the launches a "trap" that could lead to devastating losses.
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๐ Context of the stablecoin market:
Hayes' warning highlights the challenges of new stablecoins. He emphasizes that technology alone is not enough; a viable business model and effective distribution are needed.
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โ Do you agree with Arthur Hayes' view that many new stablecoin companies are doomed to fail due to weak distribution channels? ๐ค
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