Three Arrows Capital CEO Zhu Su is offering his opinion on why Cosmos (ATOM), Fantom (FTM) and Near (NEAR) are appreciating as the rest of the market trends downwards.
Su says in a series of tweets that the three digital assets are among the cryptocurrencies that macro investors own the least amount of.
According to the crypto hedge fund CEO, macro investors are exiting their crypto positions as the Federal Reserve Bank starts cutting asset purchases, also known as tapering.
Su says the macro investors entered their crypto positions after the market crash witnessed in March of 2020 at the height of the Covid-19 pandemic.
“One path-dependent fact of history is that the Covid-19 March 2020 dump regrettably flushed out a lot of true believers,