DEFI IS ATTRACTING MASSIVE ATTENTION
Because it enables the final investor to catch the next wave, I think the optimum time to introduce a product is when things are tough. The Covid era, as we discovered from the catastrophe, will cause the cryptocurrency market to decline by around 30% in a single month. People then continued to believe that innovation is a problem-solver; yet, problems continue to arise, including one involving the supply chain, which innovation has helped to address. Investors have started to realize that innovation can address problems, and I believe that this is a turning moment for what will happen over the next five to ten years as innovation platforms soar.
We are currently learning how much more fully transparent and decentralized financial services will be going forward as a result of FTX. Since FTX, Celsius, and 386 were all near networks, it was impossible to observe what was happening as they crashed. On a fully distributed network, users were able to escape punishment. Although the system operated flawlessly, those other businesses failed. The old banking world was exceedingly mysterious and opaque. Given how clear it is right now, the new version will be better, and I think Defi will benefit from it.
The solution is decentralizing and being transparent. No transactions were skipped by Defi, and they were all successfully completed. It's important to note that SBF disliked Bitcoin since it is decentralized and he tried to regulate it. He failed in his attempt to exert control over the cryptocurrency industry. It is regrettable that so many individuals have been injured. People claim that the crypto world simply needs clear regulations and that they are unaware of any new regulations. If everything was apparent, we could have prevented many people from suffering the harm that FTX caused them by using a Bitcoin ETF, for example.
This market is unlike any we have experienced before; in fact, it is worse than some previous market situations. Despite everything that is happening in the cryptocurrency market, it is here to stay and is not going anywhere. Even people who initially disliked Bitcoin have grown weary of the stress involved in sending money. In contrast, you may send millions of dollars with cryptocurrency by pressing a few clicks. Many consumers don't want to send money through the lengthy processes required by banks, and our transaction costs are substantial.
Well written
Very interesting topic
You have written very well.
Well done bro 👍🏼