Ethereum's DeFi tokens are rapidly outpacing Bitcoin

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On 3/5/2021 at 2:00 PM, Tonney said:

People are liking it as much as it give love to the Bitcoin.

Did you mean to cite the tokenized Bitcoin? Otherwise, Bitcoin are not supported on the DeFi platforms as the are based on the smart contracts. If you locate most of the DeFi platforms, they are based on the Ethereum blockchain network.

7 hours ago, Abdo111 said:

This is because most DeFi products do not have audited smart contracts, so the risk of investing in them is quite large.

Lol, what do you mean. It is hard to understand your cryptic post and I do not think it is related to the main stream matter of this thread. 

[den2021 1]

Криптовалюта Dogecoin появилась на мероприятии NASCAR в Лас-Вегасе. Логотип DOGE можно было увидеть на капоте гоночного автомобиля Стефана Парсонса

[Reen 1120]

There is risk involved as price of the altcoins people invest can go down a lot, making profits from yield farming dissappear. Exactly. Repeatedly, I have seen more than three DeFi protocol platforms taking scam exits this week. In fact we must take advantage of their experiences to make money, even if the commissions cost an arm and a leg.

[Nnnbht 502]

Since the average Ethereum transaction fee is more than the daily income in many countries, the additional smart contract implementations needed to deal with DeFi protocols have seen users report fees of up to $ 100.

[Zrnabaly 179]

Thanks for such useful information. 

This is very interesting that some Defi price is increased from btc . In my opinion people are giving attention more on cryptocurrency therefore it's price increases.

Thanks.

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17 minutes ago, Bamallson said:

The absence of that middleman to have control over the contract is what makes me restless about DeFi tokens.

Why dude? You need not to trust the middlemen as you will be trusting codes and complex mathematics on the blockchain. I wonder to hear, do you think control imposed by central entity ensures you the most safer platforms or the anything else ? 

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14 hours ago, Len22 said:

The truth in my opinion DeFi is completely taking control of the market and this in turn is what makes Ethereum have massive profits as can be seen in the image you showed us, that is to say, Bitcoin is not the one that offers the greatest Profit is being outpaced and by far by DeFi.

DeFi is not completely taking control over the market as you are talking about the current cases but it is possible in the near future. People love to have decent profits from the DeFi products and the services that's why some tokens were rose unexpectedly in the cryptocurrency markets. Now you can see the progress of such tokens in the markets.

[Abo Sahl 3]

You thus have to risk money for a long period of time, and it is possible for luck to go against you and engrave with you, but there is no sure way to earn Bitcoin, so I advise you to put it in a place that is certain to profit and you can cover many projects in this money that you will buy the cryptocurrency with. I also imagine that it is an explanation for the high exchange fees. On the Etherium network, if hacked for big bucks.

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On 4/1/2021 at 10:30 PM, Justin79 said:

people are investing a lot of money in new tokens belonging to the ethereum network waiting that have an economic growth like bitcoin that is why they are making investments in these currencies to the point that they are surpassing bitcoin.

Surprisingly, they picked the Ethereum's DeFi token to invest and it was amazing to see, the DeFi tokens were responsible to outpace the crypto giant Bitcoin. Now Bitcoin is already reverted to its own pace and exhibiting its incredible power to bring the changes in this world with an incredible total marketcap to be in the top ten list of total marketcap.

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On 4/4/2021 at 2:31 PM, Asim786786 said:

Erherreum and bitcoins defi currency exchange fully help. Defi currency exchange definitely help full. I am a agree with you defi currency exchange. Defi currency exchange reputation day by day. Defi project is a very block chain tron and good network looking defi good and great feature and trusted exchange for this.

I have seen multiple mistakes and misunderstanding about DeFi and DeFi products in your previous reply so before marking your post as useless and spam, I am here to make a last effort to make things clear for your satisfaction. Ethereum is the major blockchain to available for DeFi due to its smart contract feature. Bitcoin blockchain does not allow the DeFi platforms to create token and DEX. Additionally, you have said TRON and other things which are not related with the main matter of the discussion. 

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3 hours ago, Dohan master said:

The  idea is to allow us new ways of producing money and profits, it is estimated that there are more than a billion dollars in liquidity in this system, all this thanks to smart contracts , which are what make the existence of DeFi ecosystems possible.

Incredibly very high locked amounts in the Ethereum's DeFi platforms indicate, DeFi has something very special to attract the users from all around the world. Major DeFi tokens are still the key players in the markets with a huge amounts of trading volume. Ethereum protocol upgrades might again push DeFi to get the new milestone. 

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On 4/21/2021 at 6:58 PM, Else dor said:

There are certain coins that have a higher value than bitcoin, which allows them to compete with bitcoin. To compete with bitcoin, you need millions of users / hodlers and a large amount of it. You've probably seen those coins or tokens come and go in vein.

It's a reality, some Ethereum blockchain based token like YFI grew more than the price of Bitcoin itself. If you locate the craze of previous DeFi craze, more DeFi tokens were there and they were really outpacing the Bitcoin in the cryptocurrency markets. Now, Bitcoin become the most powerful once again with the higher dominance and its marketcap is increasing massively.  

[Nawrasneo 7]

Defi platforms are invading the cryptocurrency market, apparently they are sustainable over time,there have been many errors and they sold out the pools. Many of these funds were covered by the projects, but we do not know if this will be the case if they are hacked for a large sum.

[Ramisany4 1]

Absolutely yes. If I should also be holding up to 32 ETH, it would be wiser taking the staking option compared to DeFi. It is way more dependable.

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On 4/28/2021 at 9:21 PM, Nawrasneo said:

Many of these funds were covered by the projects, but we do not know if this will be the case if they are hacked for a large sum.

Some protocol got hacked and definitely it was the problem. Solid DeFi platforms are also available but still not sufficient as a huge amounts of users' assets are locked in their smart contracts. Security has to be their first priority than others and act accordingly for everyone who are involved to DeFi platforms for different purposes. 

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9 hours ago, Afraa said:

People are using defi platforms because they are generating money in an absurd way and I think it's excellent since it drives the market but I don't think it can compete with bitcoin, it's still too new for that to happen, maybe in a while it will happen. 

Bitcoin has an incredible number of potential investors to make the investments that's why it is looking so powerful. DeFi is of course at the starting and experimental phase but as the crazes on DeFi is growing up, it can achieve the next leaps to make the changes in the financial sector. Just see the future, what DeFi can actually do 😊