Some developers launch new cryptocurrencies with no real use cases for the mainstream world just to make a quick buck.
Do you think the crypto market is saturated? If not, why? Your input will be greatly appreciated.
Do you think the crypto market is saturated? If not, why? Your input will be greatly appreciated.
I have always had the thought that we don't need 99.9% of the cryptocurrencies we currently have. They lack any real user usage. With the current hype on DeFi tokens, if you research properly on the you'll realize all excluding selected few are just the same. No difference or additional input, just mere copy and past of code from one website to another and it's become disgusting.
The saturation isn't coming from the projects it's but from the exchanges. They're dictating how the market reaction. While Binance is controlling which altcoins get to moon bitfinex does it with printing tether to pump bitcoin. Decentralized exchange isn't helping matters either, the whole industry is becoming a ground for rich folks to make more money as the day goes by.
This reminds me of the statement Cz_Binance made on Twitter about the Defi project that they are risky and investors should not invest in it because they are listed on Binance platform. Why would they list it if the future of the project is not clear.
However, i saw this thread a couple of days back which is about a project listed on CMC which not been honest about their vault storage and things are not like this before cause before CMC is enough to finalize good crypto but these days every one of them (exchange, coin ranking site, etc) are only after profit.