Jim Cramer suggests remaining away from meme & Ethereum scaling crypto projects
The host of CNBC Jim Cramer advised people to remain away from many crypto assets to remain away from big losses.
Jim Cramer is popularly known in the crypto industry because of his supportive comments in favor of cryptocurrencies. He is the host of CNBC. Before 2020, Cramer was a popular critic of cryptocurrencies but later in September 2020, he admitted that Crypto assets are worth considering in the investment portfolio.
In the latest, CNBC host said that people should remain away from the investment in Dogecoin, Shiba Inu meme coins, and also from the other Ethereum scaling solution provider blockchain networks like Polygon, etc.
He said:
“I need you to stay away from the sold out SPACs, the ridiculous IPOs, and get ready, Dogecoin, Polkadot, Dai, Polygon, Shiba [Inu], Avalanche, Uniswap, Cosmos, Golem, Old Golem, Optimism, Kyber, Tribe, Request, Rari, My Neighbor Alice, League of Kingdoms…”
According to Cramer, these crypto-assets do not have much better points where they can help to make money because these risky assets failed to meet the expectations and it is a big reason to flip his mind from these assets.
It is worth noting that, around two years ago, Cramer said that people are asking about the fundamental nature of crypto assets and also questioning the ability to fight against inflation but here we have to look at positive factors, which can be achieved by these assets in the long term.
The latest statement passed by the CNBC host is hinting that the future shift of Ethereum blockchain from Proof-of-work to Proof-of-stake Consensus may eliminate the need for third-party scaling blockchain networks and also it will eliminate the need of meme coins because people will complete their needs with leading assets, Bitcoin & Ethereum easily and they will no more show interest in other crypto assets.
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