Famous Trader Became an Advisor to That Altcoin: The Token is Shining!

BitMEX co-founder Arthur Hayes became Covalent’s strategic advisor. Hayes said Covalent’s CQT token is relatively undervalued compared to competitors such as The Graph. He also stated that he wants to help Covalent grow further. Meanwhile, Hayes will receive his price in tokens. Amidst these developments, the altcoin saw an increase of over 12% as the market fell.

Arthur Hayes became Covalent’s strategic advisor

Arthur Hayes, co-founder and former CEO of crypto exchange BitMEX, has become a strategic advisor to Covalent (CQT). Covalent is a Blockchain information infrastructure initiative. According to Covalent’s statement, Hayes aims to help Covalent become a leading data infrastructure initiative, especially in the Ethereum ecosystem, and serve the artificial intelligence (AI) industry. Regarding the development, Hayes made the following statement:

In particular, Covalent’s Ethereum Wayback Machine (EWM) provides permanent, long-term access to historical Blockchain information that will power next-generation use cases, including artificial intelligence models.

Altcoin shines green in the red market!

Meanwhile, Arthur Hayes announced that he will pay the price of the altcoin project with CQT tokens. “As a general rule, we only take payments in tokens,” Hayes said. Because we believe in making ourselves completely compatible with the team, investors, customers and individuals. Just like we are here for everyone for travel.” said. Covalent co-founder and CEO Ganesh Swami said Hayes is Covalent’s sole strategic advisor.

cryptokoin.com As you can see from , the market has a deep red look today. However, there are also those who shine in the green zone, such as CQT. Amidst these developments, CQT is challenging the decline as the market declines. The altcoin saw an increase from $0.208 to $0.2543 during the day. Even though the token later lost altitude, it still continues to fly high. At the time of writing, the altcoin was trading at $0.2351, up 12.24% on a daily basis. CQT currently ranks 327th in terms of market value. Additionally, it has a market value of approximately $161 million.

Covalent’s vision for artificial intelligence

Hayes’ special role in Covalent

Arthur Hayes said that as Covalent’s “full-scope” advisor, he would help the startup “on everything from developing tokenomics to market positioning to recommending tweaks to the business model to getting in front of new types of customers.” Hayes stated that Covalent met with Maelstrom’s chief investment officer Akshat Vaidya for the first time last year at ETHGlobal Tokyo. Hayes noted that the groups discussed potential collaboration more significantly at ETHCC Paris and Token2049 Singapore. He also added that they finalized the details at ETH Denver last winter. Hayes said that Maelstrom is also the founding consultant of the synthetic dollar protocol Ethena.