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Tuesday, April 20, 2021

Finances redefined: the slow march forward, March 24-31

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Finance Redefined is UKTN’s DeFi-centric newsletter contextualizing the major events of the previous week. Subscribers receive a copy every Wednesday.

Editor’s Note

This is one of those weeks when it is difficult to find a central topic for this newsletter. There haven’t been any big scandals or releases, more like a slow grind with a few projects launching new features, others heralding their sophisticated investment round, as every celebrity and their mom keep dropping them. NFT. Snoop Dogg is the latest, I believe?

I guess a good question to ask yourself is, “Why NFT and not DeFi?” The answer is money. NFTs are making huge sums of money for their sellers right now, much like the DeFi yield farming mania of summer 2020. In crypto, money is always the answer.

NFTs also need to pass, but like other past trends in crypto, this current rise may leave a much larger residue than what we started with.

I would say DeFi is in its ‘build up’ phase right now, and that’s why we’re seeing a constant flow of exits and investments, with none of them really rocking the ecosystem. Market conditions are not helping either, as we are still in a faltering phase which must eventually resolve itself. Maybe we’ll get back to running the bulls shortly, maybe we won’t. I came to understand that it is quite easy to time the top of the market, the problem is that there are so many “highs” in a crypto year that it becomes difficult to distinguish a local correction from a peak. global.

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