Liquid Capital founder Jack Yi believes that not all crypto sectors are created equal and only a few have the strength to outlast market cycles. In a recent post, Yi named public chains, exchanges, and stablecoins as the three pillars of the crypto market that he believes will “transcend cycles,” urging investors to pay close attention to projects in these categories.
According to Yi, these areas form the backbone of the digital asset ecosystem:
- Public chains provide the essential infrastructure for decentralized applications.
- Exchanges serve as gateways for liquidity and adoption.
- Stablecoins ensure transactional stability and connect traditional finance to decentralized systems.
Ethereum, BNB, and Aster Take the Spotlight
In his breakdown, Yi highlighted Ethereum, BNB, and Aster as standout examples within each of these core areas.
1. Public Chains: Ethereum Remains the Leader
Yi emphasized Ethereum (ETH) as the dominant force among public blockchains. Data from DeFiLlama shows that Ethereum’s total value locked (TVL) stands at $75.21 billion, accounting for 67.3% of the entire DeFi market. The network currently supports more than 1,660 protocols, outperforming Solana, BNB Chain, and Bitcoin in both ecosystem activity and DeFi dominance.
2. Exchanges: BNB and Aster as Dual Growth Engines
When it comes to exchange ecosystems, Yi pointed to BNB and Aster as the most promising projects.
- BNB, according to him, benefits from a stable income base and a strong ecological foundation.
- Aster, meanwhile, is seen as Binance’s “second growth curve”, with Yi calling it the most strategically important project in the Binance ecosystem.
Although Aster currently ranks 6th in TVL among BSC protocols with $531.4 million locked compared to PancakeSwap’s $2.39 billion it has shown rapid growth. Following support from YZi Labs Chairman Changpeng Zhao (CZ) and the launch of Aster Chain and its native token (ASTER), the project has quickly gained traction.
Liquid Capital’s Expanding Footprint in Crypto Investment
Founded in 2016, Liquid Capital (formerly LD Capital) has grown into one of Asia’s most active blockchain investment firms. The company has backed more than 300 projects across DeFi, GameFi, and blockchain infrastructure, accounting for 31.3%, 24%, and 21.7% of its portfolio respectively.
Its investments include notable projects such as Certik, Republic, CoinList, Qredo, and MEXC — showing a broad commitment to both early-stage ventures and mature market players.
Yi himself has been a vocal supporter of Ethereum, often sharing price analyses and resistance levels on social media. As of June 2025, he revealed holding 100,000 ETH call options, underscoring his confidence in Ethereum’s long-term trajectory.
He’s also known to favor smaller altcoins, noting Uniswap (UNI) as his third-largest holding after Bitcoin and Ethereum.
Jack Yi’s insights highlight a clear investment philosophy: focus on the foundational pillars of crypto public chains, exchanges, and stablecoins that will drive the next cycle of innovation and adoption. With Ethereum, BNB, and Aster leading their respective categories, Yi believes these assets represent the core engines of the digital economy moving forward.
