Seeing the development of new projects that have sprung up recently has people experiencing a motion of no confidence in crypto. because many projects do not have good long-term prospects. they just want to get profit alone regardless of the losses of others and do not develop it. have you ever thought that
what is your opinion?
The trend has now shifted to Defi. All shit projects now add Defi to their name just to seek attention from investors but the truth is, only few will survive. While some has performed awesomely like Link as an oracle, some decentralised exchange tokens like KNC, Band and BNT are the only Defi that deserve some accolades. The rest is pump and dump.
This has been the very problem since then, people tend not to look at the value of the project but instead the value of the coin which they can make profit from investing. The thing now is that, DeFi projects is hype by the investors, I don't wanna be hypocrite I also invested at some and waiting to land in exchanges in a short period of time. There are projects that is worth to take for a long term, don't get the idea, but what happening right now is just the same as what happened last 2017, all out hype and cry after most of the projects just ran away. crossfingers.
Recently failed were Yam and Spaghetti project, I weap for some investors for not doing proper research as this project were not properly audited.
See the common mistakes of them? that will lead them in a bad situation, YAM is a joke coin like Doge but doge does not have any code bugs lol poor YAM CEO.
DeFi has a huge potential in finance, however this is having oversight right now which might break the sole purpose of it.