Jay Hao, CEO of OKEx, one of the world's largest cryptocurrency exchanges, sharply warned cryptocurrency investors against one of the most popular trends of recent days in a published current interview. As can be expected, the subject Hao is talking about is known as decentralized finance, that is, the DeFi sector.
Hao says that the Coronavirus outbreak has actually accelerated an inevitable increase and paved the way for the transition to cryptocurrencies, and he thinks that more people are now turning to assets such as Bitcoin. The transition to bitcoin has also accelerated the flow to DeFi coins and projects, Hao said, noting that people want to make more gains.
The DeFi Sector Is Going To Do A Lot Of Damage!
The Defi sector offers great potential, he said, but he still thinks investors should be very, very careful about it. Stressing that “many people will lose a lot of money,” Hao hinted that the Defi bubble could soon burst. Although the main goal of the DeFi sector is to bring these services to people who do not have access to banking services, everyone is now using it for more profit.
The folly in the DeFi sector recently increased to $ 36,000.With Finance, the final pace continues. Although projects such as YFI in the cryptocurrency sector have seen similar gains in previous dates, the decentralized exchange called Uniswap even surpasses Coinbase in terms of volume shows that the situation has reached much different dimensions.