Arthur Hayes Joins Covalent: CQT Token Sees Over 7% Daily Surge

• Arthur Hayes, co-founder of BitMEX, has joined a new altcoin initiative.
• Currently, Hayes is serving as the Chief Investment Officer at Maelstrom and has partnered with the blockchain infrastructure startup, Covalent.
• “Covalent’s Ethereum Wayback Machine (EWM) provides consistent and long-term access to historical data on the blockchain, which will be particularly beneficial for future applications including AI models,” Hayes stated.

Arthur Hayes, BitMEX co-founder, ventures into a promising new altcoin project aiming to pioneer blockchain data infrastructure.

Arthur Hayes Joins Covalent in Strategic Role

In a recent development, Arthur Hayes has stepped into a strategic advisory role with Covalent, a forward-thinking blockchain infrastructure initiative. His objective is to elevate Covalent to a leading position among data infrastructure ventures, especially within the Ethereum ecosystem. Hayes believes that Covalent will play a critical role in enabling future applications powered by artificial intelligence.

Ambitions to Lead in Blockchain Data Infrastructure

Hayes will be providing strategic advice to Covalent, with the primary aim of establishing its foothold among top-tier data infrastructure projects. Covalent’s focus on achieving significant success within the Ethereum ecosystem and aiding the AI industry positions it uniquely. “Covalent’s Ethereum Wayback Machine (EWM), offers enduring and sustained access to historical blockchain data, empowering future use cases, including those involving AI models,” Hayes elaborated.

Covalent’s CQT Token Surge

Hayes’s involvement with Covalent is partly due to his observation that Covalent’s native token, CQT, has been undervalued despite its capabilities. This sentiment is based on its comparison with competitors like The Graph. In light of his new advisory role, Hayes will receive compensation in CQT tokens. “Our general practice is to accept payments in tokens only, aligning our interests completely with those of the team, investors, clients, and retail participants,” Hayes explained. According to CoinGecko, the recent announcement led to a more than 7% daily increase in CQT’s value.

Conclusion

Arthur Hayes’s strategic involvement with Covalent signifies a potential uptrend for the project and its native token, CQT. By leveraging his expertise, Covalent aims to become a prominent player in blockchain data infrastructure, especially within the Ethereum and AI ecosystems. This move could set the stage for future advancements and greater market impact.