Caught in two minds: DeFi meme coins spark debate over their intentions
Cointelegraph
Published Sep 12, 2020 09:00AM ET
Updated Sep 12, 2020 10:40AM ET
In recent weeks, talk of hotdogs, sushi and yams has infiltrated the crypto industry. Such references, however, are not as they seem and actually relate to assets in the decentralized finance sector of crypto. Over the course of 2020, DeFi has seen bubble-esque speculative levels based on projects that may or may not hold long-term promise or stability. Opinions on the new hype surrounding food-themed tokens vary.
“It’s just a fad,” Tone Vays, a YouTube content creator and derivatives trader, told Cointelegraph, adding: “They’re all literally Ponzi schemes.” Meanwhile, Philip Salter, the head of mining operations for cloud Bitcoin mining outfit Genesis Mining, holds an opposing view. “I believe that DeFi is an extremely important development,” he told Cointelegraph, noting the influence of decentralized trading in the digital asset space:
Continue Reading on Coin Telegraph
Get The News You Want
Written By: Cointelegraph
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.