According to Pantera Capital Chief Executive and Founder Dan Morehead, smart contracts for Polkadot’s DOT token and Terra’s LUNA payment protocol are the “most promising” tokens heading into 2022.
Morehead revealed this week in an interview with CNBC that he believes in a multi-blockchain future, which is one of the reasons he is so bullish on Terra.
“I believe we’re all coming to the conclusion that the future will not have just one blockchain, but potentially ten or twenty incredibly important blockchains,” Morehead added.
Polkadot is growing in popularity
Polkadot’s strength, he says, is that it “will help move value from one blockchain to another,” with the protocol’s first decentralized finance (DeFi) initiatives set to launch in the first quarter of 2022.
Morehead stated, “The Polkadot ecosystem is gaining a lot of traction.” Pantera’s founder remarked that LUNA has recently gained popularity in reaction to Terra.
“It currently has a market worth of $31 billion, so there’s still plenty of room for it to grow,” Morehead noted. He also stated that the protocol is home to the third-largest stablecoin, UST, which grows at a “very, very rapid clip.”
UST, which is ranked 20th in terms of market capitalization (on Coingecko), reached a market capitalization of $10 billion this month, up from less than $200 million in January.
Pantera’s CEO is upbeat
Finally, the Pantera CEO cited Risk Harbor, a decentralized marketplace for risk management, as a coin from the insurance niche inside DeFi that he is “very enthused” about during the conversation.
“All of these different sorts of insurance that we need in the real world, especially right now for the DeFi ecosystem,” Morehead continued, “can all be done decentralized on Risk Harbor.”
