It's been a bloodbath in the DeFi market over recent days.
The coin is down 35 percent in the past week alone and nearly 50 percent from the highs established just weeks ago.
Other top coins in the DeFi space have also seen strong corrections, with some dropping even further than YFI from their recent highs.
UNI - down 45%Nexus - down 47%ETH - down 30%Aave - down 48%SNX - down 53%YFI - down 46%. These are the DeFi "Blue chips" for anyone who wants to BTFD / catch the falling knife.
Most remain optimistic about DeFi's long-term prospects.
"Crypto markets are red today. But consensus among most instl investors is that this is macro driven; not crypto driven. The fundamentals for $BTC $ETH and $DEFI have actually never looked better."
The fundamentals for $BTC $ETH and $DEFI have actually never looked better.
One reason why Noon thinks that DeFi is in such a good place on a macro time frame is the relatively high-interest rates offered in this ecosystem compared to traditional finance - now dubbed TradFi on Twitter.
DeFi, on the other hand, has products widely deemed "Safe" by security auditors that can yield in excess of 20 percent per annum.
More risky products, often related to food coins, can yield returns in the hundreds of percent per annum.
Top VC says amid 40% drop: the fundamentals for Ethereum have never been better
Publicado en Sep 22, 2020
by Cryptoslate | Publicado en Coinage
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