Gracy Chen, the Managing Director of Bitget, recently sat down for an interview with Cryptonews to discuss various topics in the crypto industry. She shared her insights on the current bull market, the rise of meme coins, the potential of AI tokens, and the process of getting listed on crypto exchanges.
Chen believes that we are currently in a bull run, estimating 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. However, she also emphasized that the crypto market is influenced by factors beyond just cryptocurrency itself. For example, the recent halving event and speculations about US interest rate cuts have had a significant impact on the market.
When it comes to meme coins, Chen expressed her reservations. She believes that these coins are primarily driven by emotions, community, and social media. While they can be a popular asset class with potential for growth, they are also extremely volatile and lack fundamental value. Chen advises her friends to have less than 5% of their portfolios allocated to meme coins.
In evaluating projects for listing on Bitget, Chen highlighted the importance of on-chain data. She explained that on-chain data provides transparency and cannot be manipulated. By analyzing trading volume, wallet holdings, social media engagement, and interactiveness, Bitget can make informed decisions about which coins to support on their platform.
Chen also discussed the phenomenon of AI tokens. She acknowledged that there may be some overvaluation due to FOMO, but she believes that AI is fundamentally changing our lives and will continue to grow in the long run. While AR NFTs have gained popularity recently, Chen sees them as more of a buzzword and doesn’t view them as having the same long-term potential as AI.
Overall, Chen’s insights provide valuable perspectives on the current state of the crypto market and the factors that drive its growth. As the Managing Director of Bitget, she brings a wealth of experience and knowledge to the industry.