This is hotdog:
Source
Not hot anymore, isn't it?
Source
Not hot anymore, isn't it?
Why do you think this is happening?
Its all FOMO. Like you have already said. The Defi craze is like the ICO hype back in 2017. People sees the green candles, daily gains of +100% and more and don't want to miss this race. BUt at this moment, it seems the race is over and we can move to serious projects. When I look at all defi charts they all look like a hotdog to be honest.
They are hot at first then they just fizzle and die eventually with no real sustainable evidence to make sense what is to back it.
This has been proven time and time again with one coming out every couple of days.
It is like a game to the developers at this point but they don't care that people are playing with real money in their pet projects.
