All summer, and especially August, the market was booming with news about the super growth of tokens. Yeald farming, stacking gave crazy interest. New tokens appeared every day, the number of assets involved in this area was steadily growing. And what we see now:
source: @ceterispar1bus
Some projects have already reached -90%, yeald farming is no longer so profitable.
All large projects have fallen in price, not to mention any little-known tokens with low liquidity. Is the market entering a new phase?
What will this correction give us? The market will be cleared of all garbage and DeFi will be promoted exactly as a technology, as before, not just a desire to collect money from the crowd or should we wait for a second wave, as it was in 2017, when after the correction many alto tokens grew even more and then died forever?
Those numbers in the chart are outdated.source: @ceterispar1bus
Some projects have already reached -90%, yeald farming is no longer so profitable.
All large projects have fallen in price, not to mention any little-known tokens with low liquidity. Is the market entering a new phase?
What will this correction give us? The market will be cleared of all garbage and DeFi will be promoted exactly as a technology, as before, not just a desire to collect money from the crowd or should we wait for a second wave, as it was in 2017, when after the correction many alto tokens grew even more and then died forever?
Yes, there was a bubble but things have rebounded now and there are gains to be had.
You fail to mention that DeFi platforms produce yield. I have earned more FARM tokens for example than I have lost in FARM token price, so I am still net positive. Let me explain, I earned 10 FARM tokens and I the current FARM price is 10 usd less than what I bought it for. I'm still profitable because the FARM APY ranges between 200 and 600%. Now the issue is, can alts keep up with Ethereum now that it's mooning.