Popular cryptocurrency analyst and Coin Bureau host Guy says that venture capitalists’ investments in cryptocurrency projects point to the high potential these projects have.
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Guy is kicking off his list with five crypto projects with high-performance blockchain Solana (SOL), which is among the many projects that have received major financial support from venture capital (VC) firms since the beginning of the year.
The YouTuber says its nearly 1.2 million YouTube subscribers have received over $500 million in various tranches to Solana, calling the move a “bullish” sign. This includes funding of $40 million in March, $60 million in May, $100 million in May and $314 million in June.
Next on Guy’s list is Dapper Labs, which owns the popular crypto collectible platform NBA Top Shot. Dapper has raised over $300 million from multiple VC firms in less than five months as excitement over the Top Shot ecosystem mounts.
Proof-of-stake blockchain Algorand (ALGO) ranks third on Guy’s list of high-potential cryptocurrencies, given financial support from VCs. Arrington Capital raised $100 million in June to “fund projects built on the Algorand blockchain.”
Next on YouTuber’s list is Chia Network (XCH), which raised $60 million in May. Multi-chain platform Kusama ranks fifth on Guy’s list. The project, along with its sister platform Polkadot, raised $30 million in June. In addition, Kusama’s parachain auctions continue to work, allowing crypto communities to bid essentially on which projects to launch on the network. Top project Karura allocated $100 million to Kusama to secure a 48-week lease to build on the network.