Scott Melker, a veteran trader and littlester, is convinced that major Layer 1 protocols should be part of everyone’s investment portfolio. Instead of choosing individual crypto projects, such as NFTs or blockchain games, Melker thinks it makes more sense for him to bet on the blockchain infrastructure these projects are built on.

“Any one of these little projects could go completely crazy. But you’re going to have trouble choosing which ones. You just have to own layer 1 and the infrastructure they are built on,” he said in an exclusive interview with Cointelegraph.

“You may not have a Bored Ape, but Ethereum holders have certainly benefited from the success of Bored Apes!” he noted.

Speaking about building his portfolio, Melker revealed that around 65% of his assets are currently in cryptocurrencies. Aside from Bitcoin, which makes up the bulk of his long-term holdings, Melker is extremely bullish on Ethereum.

“Nothing is going to kill Ethereum. I think Ethereum is here to stay. I think he is an extremely important asset and one that everyone should be exposed to,” he said.

Melker believes that the upcoming merger, which should complete Ethereum’s transition to proof-of-stake, will be a huge boost for the asset’s price.

“This is a massive bullish event for Ethereum. (…) I think it will be a better chain, more usable after this happens, ”he said. “Eventually we will see Ethereum at $20K, $30, $40K.”

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This post “People should invest in all top 1 layers,” says veteran trader

was published first on https://cointelegraph.com/news/people-should-invest-in-all-of-the-major-layer-1s-says-a-veteran-trader

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