Okay, I'll admit it. I used to be that guy – the die-hard ETH maxi who scoffed at anything that wasn't Ethereum. Bitcoin? Overrated dinosaur. Altcoins? Useless distractions. But as I dove deeper into the crypto rabbit hole, something unexpected happened: I started accumulating a portfolio of so-called "shitcoins."
Now, before you grab your pitchforks, let me explain. In the tribal world of crypto, "shitcoin" is a loaded term. For Bitcoin maxis, anything that's not BTC is a shitcoin. For ETH maxis, anything other than ETH fits the bill. It's a way of signaling loyalty to your chosen tribe while dismissing everything else.
But here's the thing: not all altcoins are created equal. While many deserve the "shitcoin" label, there are hidden gems with real potential. And as a reformed ETH maxi, I've learned to appreciate the unique value some of these tokens offer. You can see below the breakdown of my portfolio:
Here's a peek into my secret stash of "shitcoins":
- LINK (Chainlink): Oracles are the unsung heroes of DeFi, and Chainlink is the undisputed king. With the hype around ETH spot ETFs, Chainlink's visibility is only going to increase. Sure, oracles can be programmed without Chainlink, but why reinvent the wheel when there's a proven solution?
- ARB (Arbitrum): As the leading Ethereum layer-2 chain by TVL, Arbitrum is a force to be reckoned with. Yes, the tokenomics aren't great, but the underlying technology is solid.
- GMX and Pendle (in the others above): These DeFi protocols are deeply integrated into the Ethereum and Arbitrum ecosystems. They're poised to benefit from the ETH spot ETF buzz, and I'm betting on their continued growth.
- DEGEN (still in the others above): Okay, this one might raise some eyebrows. It's a memecoin, after all. But hear me out: DEGEN has a strong community and a layer-3 chain. If I had to hold one memecoin, this would be it.
- SOL, ATOM, TIA, AVAIL (again, in the others above...): These are all tokens from other ecosystems that I'm staking for various reasons – airdrops, high APR, etc. They're not my main focus, but they offer diversification and potential upside.
Am I worried about holding these "shitcoins"? Not really. I've done my research, and I believe in the long-term potential of these projects. Of course, there's always risk involved, but that's the nature of crypto.
Disclaimer: This is not financial advice. Do your own research before investing in any cryptocurrency.
So, there you have it – my confession as a reformed ETH maxi. I still believe in Ethereum's dominance, but I'm also open to exploring the wider crypto landscape. And who knows, maybe some of these "shitcoins" will turn out to be the next big thing.
What do you think of my "shitcoin" picks? Let me know in the comments!