Analyst: Believers in exponential growth will triumph in cynical altcoin market

Amid pervasive cynicism in the cryptocurrency market, Dragonfly Managing Partner Haseeb argued in a post on X that major altcoins like ETH and SOL remain undervalued for investors with a long-term belief in exponential growth. He noted a prevailing atmosphere where new chains such as Monad (MON), Tempo, and MegaEthereum face immediate criticism upon launch. Haseeb described a widespread perception that crypto is overvalued and poised to collapse once Wall Street fully comprehends it. This has led to a loss of faith within communities and a sense of nihilism, where investors believe they will not be rewarded even if projects succeed. He added that some even view ETH as merely a meme incapable of ever generating real profit. Haseeb dismissed these sentiments, stating that people tend to overestimate what can happen in two years and underestimate what can happen in 10. He drew a parallel with Amazon, which was unprofitable for 22 years and derided as a Ponzi scheme before ultimately proving its critics wrong. By comparison, Ethereum is only 10 years old, making the current market uncertainty a natural phase. Haseeb asserted that just as the internet absorbed all other industries, blockchain will reshape the entire financial and monetary system by making all financial components interoperable within an open framework. He concluded that for investors who believe in exponential growth and maintain a long-term perspective, the current market is clearly undervalued, adding that institutional investors operate on much longer time horizons than many assume.