With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?
DeFi seems to be just another ICO bubble, and I bet fomo is the main reason, so many people are scared of missing out, cus they saw how so many coins were just going up without any pull back, coin like Hotdog was a real bubble Why do you think this is happening?
, reached the peak and just fell down back to where it originally started, also alot of scammers seized the opportunity to start naming their scam projects with similar names to the successful DeFi projects, "YFI" was the most used by scammers, they came up with names like YF MOONSHOT, YFIR.finance etc which turned scam after two to three weeks, too bad the DeFi hype is no more there.