Defi Chain Co-Founder: FTX's Collapse Has Rekindled Interest in Defi and Associated Products
According to Julian Hosp, co-founder of the decentralized finance entity Defi Chain, the fall of the crypto exchange FTX and the domino effect it has had may have rekindled interest in decentralized finance and associated products. Hosp, however, conceded that the crypto exchange’s dramatic collapse also encourages regulators to adopt a harder line when dealing with crypto entities.
In contrast, defi platforms like Uniswap and Defi Chain have seen their respective traded volumes spike in the same period. To illustrate, Uniswap posted a tweet on Nov. 14 which indicated that the number of active daily wallets on the defi platform had increased to 55,550, a new record. The tweet could suggest that Hosp and other crypto experts’ prediction is already turning out to be correct.Self-custody and transparency are in demand and users are flocking to what they know and trust.
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Although the cryptocurrency market has weathered many storms before this, some cryptocurrency experts warn that the demise of FTX may trigger a larger collapse of the entire ecosystem
Most people withdraw their assets to fiat and transfer even more to cold wallets
WOW!...
More like people are running for the exits.
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