Australia’s crypto fund manager, Apollo Capital reveals the firm’s year-to-date returns since the start of the year with 119% growth. The crypto fund avoids DOGE and DeFi crypto projects.
Apollo Capital is a multi- strategy fund which invests in crypto assets. The firm is powering the next generation of computing infrastructure. The investment firm returned 119% this year without involving DeFi and DOGE projects. The Australian crypto hedge fund chooses Ethereum and Bitcoin based crypto projects and manages $75M under management in just more than a year.
Moreover, Bitcoin crypto projects earn 19.96% growth in year-to-date. The financial firm opts for cryptocurrency platforms mainly Ethereum, to avoid the new and emerging projects. Additionally, Apollo Capital verifies the blockchain platforms it invests with the help of external experts. They also cross-check the crypto teams to be highly programmed and well versed.
Drawbacks of DeFi and DOGE projects
Notably, the company is not ready to work with decentralized finance (DeFi) and the DOGE coins. Recently, WhaleFarm, a DeFi project, traded above $200 on crypto exchange which wiped its worth close to zero within 2 days. So it is the easy-come and easy-go DeFi project in the market.
More so, Mark Cuban says he got hit by losing his money trading a DeFi token called Titan. The investment in the token made him lose 60 USD which crashes to zero in one day. The company also adds, it’s better to avoid meme coins as they are unstable and have zero actual utility.
Therefore these pitfalls in DeFi and DOGE are the reasons why the investment firm is not ready to deal. And avoids these newer crypto projects as they are not strong in the crypto industry.
Thus, Australia’s leading crypto asset firm Apollo Capital feels Bitcoin and Ethereum will become the keys to open the success in the crypto fund market. It also prefers cryptocurrencies like Polkadot, Polygon and Solana to make good productivity in the market.
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