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Decentralized finance sees a rise in altcoin

AudraMiller

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There is a lot of projects that are built on the decentralized platform system, and with how easy it is to create any coin, it make sense that these sort of project would be easy to implement and to put into place as well. There are many people that lock their coin in these projects, hoping that the price will rise in time and they will reap the rewards. In a recent news article it seems that the total value of the solana coin that is on the decentralized finance platforms is in excess of 12.7 billion dollars. This is a substantial amount and shows that there is a lot of people with interest in this coin. What are your thoughts on this?
 
There are groups that only buy new coins, I don't know how they know where to find them. They buy with 0 market cap and hodle long.
Some people take on this risk and hope that a coin that is dead at the time will rise again in the future. Or that another whale will pump the coin and they would be able to profit from their sale orders.
 
DeFis are even more delicate and susceptible to hacks going by past information we have seen but that hasn't stopped people who see the potential in the market. Personally, I would be more careful when dealing with projects on this platform and wouldn't like to hodl for too long.
 
DeFis are even more delicate and susceptible to hacks going by past information we have seen but that hasn't stopped people who see the potential in the market. Personally, I would be more careful when dealing with projects on this platform and wouldn't like to hodl for too long.
I agree with you. when it comes to any platform though i am always very scared about holding for too long a period of time because there has been a lot oft times that something that looks like it is legit will actually become a problem and in turn there will be a massive loss that you will incur as a result of this.
 
Defi is definitely is a hot niche and being new, it's expected that it has its problems. People actually lock up or stake their tokens only if they really believe in the team behind it.

Solana is a good ecosystem and this amount of TVL shows that people value it a lot.
 
Hello. Using a DeFi platform in place of doing business with traditional financial institutions can provide several benefits. Simply put several of them are: accessibility, low fees and high interest rates, increased transparency and security, functional autonomy. I saw a lot of possibilities from Avalanche, they work with dapps, quite interesting technologies.
 

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