The Decentralized Finance (DeFi) market continues expanding with a large number of new platforms and solutions. The entire cryptocurrency industry has been revolutionized after an increase in the number of new platforms offering users with the possibility to earn passive income, get rewarded with fast-growing assets and trade virtual currencies in a decentralized manner.
Several platforms have changed the way in which we understand the DeFi Market. Indeed, we have firms such as Yearn.Finance or ICM DEFI that are offering new and unique services to users in the crypto industry.
While the 2017 and early-2018 bull run was pushed by the Initial Coin Offering (ICO) boom during that period, there is a high possibility that the next bull run for Bitcoin (BTC) and altcoins would be driven by the DeFi market and its adoption in the community.
Yearn.Finance, for example, is allowing users to provide liquidity to pools and offer solutions such as loans, or stablecoin management, among other things. Users will be receiving the best interest rate possible. Yearn.Finance will be searching with its algorithm the best possible returns for users.
ICM DEFI helps users recognize and store stocks that have great potential. This would help traders and investors increase their profits while trading. Furthermore, users will also be able to learn the basics of crisis management so as to reduce their risk during market crashes.
These are just two of the many examples there are in the cryptocurrency industry and DeFi markets that allow us to understand how the entire community continues to expand and grow. These are going to be the solutions that will provide the new innovative solutions that users are looking for.
Despite that, it is also worth taking into account that there is a risk in investing in these projects as it was risky to invest in ICOs when they were released to the market. Just a few days ago, SushiSwap experienced a new “exit scam.” The founder of the platform decided to sell his SUSHI coins and exchange them for Ethereum (ETH) a few days after the official launch of the platform.
The price of the SUSHI coin dropped and users were certainly angry and disappointed due to the whole situation. This is why users should also be cautious about the projects in which they invest to avoid problems and other issues.