Why I’m Getting Excited About DeFi Again!
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It’s been a rough 12 months for DeFi investors. Actually, that is a major understatement — it’s been horrible! But finally, I’m feeling excited about DeFi again! Here’s why…
We’re already well into the new year. 2022 is getting smaller in the rearview mirror and although some people seem to have given up and gone home there is a palpable air of optimism in the DeFi communities that I’m a part of and little bits of good news everywhere I look. Granted, it’s plausible that I’m only seeing and hearing what I want to see and hear, however, I do believe there are many good and valid reasons for my excitement, for instance:
- BTC looks like it’s about to break through above $25k any day now
- BNB is looking better than it has done for over six months
- Furio hasn’t gone to zero (by that I mean $FUR hasn’t gone to zero like many naysayers were claiming it would)
- Drip hasn’t gone to zero, in fact, it even had a nice little rally the past few days and did a 2x from $0.23 to $0.47 (it’s slipped back down to $0.38 now but that doesn’t impact my optimism)
- Elephant Money’s Stampede just got a major upgrade and a lot of positive stuff is happening in that ecosystem — TRUNK price is up a little, and ELEPHANT price is up almost 30% in the last 30 days!
- Animal Farm is still paying out decent dividends. Soon my staked dogs will have earned me enough to buy one more pig and my pig pen investment is paying me a respectable amount of BUSD every week.
- Furio’s Furpool is paying me a tidy sum every week and my staked amount is increasing rapidly.
- ArkFi is going extremely well despite having launched in December 2022 (at what I hope was the height of the bear market).
And I could go on but I think you get the gist. It might depend on whether you’re a glass-half-full person, I don’t know. Perhaps you are reading this and feeling very differently to me?
I’m seeing green everywhere!
I’m not talking about dollars but I do believe that will follow. I’m not making any predictions about timings or all-time highs. I’ve realized it’s not all about that. It’s about finding places to earn yield while building a stronger position for when the bull run happens.
For example, at the start of February, I bought another $200 of $FUR despite having one wallet approaching 27,777 and several others not far behind it. I don’t care what the $FUR price is at right now or that it’s been declining very slowly for the past however many days. That is not relevant. What matters is how much $FUR I can get stacked up ready for the bull run.
Same for Drip.
I have almost lost count of how many Drip wallets I have! I compound them all regularly regardless of the price of $DRIP. I don’t care that it’s less than 40 cents now because what matters is the future price when I’m ready to sell and with all the hype around the Drip Drop Draws and the persistent rumors and claims that a new UI is just around the corner and after that will be Fiat onboarding and eventually lending, I’m convinced the price will eventually start going up.
And that’s all it needs to do; I don’t need ATHs to make a significant profit. I don’t need to risk huge amounts of money — by buying more now I’m setting myself up for major wins down the line and it’s not costing me anything I’m not willing to lose.
ArkFi Could Be About to Revolutionize DeFi
Ark Finance will soon be launching its mobile app. You might be thinking “so what?” Well, imagine being able to invest in a DeFi project — from making a payment with your debit card to depositing tokens and claiming rewards back to your bank account, all without having to leave the comfort and familiarity of a single app. That’s going to be incredibly appealing for generations ‘x’ through ‘z’ — your kids and your parents could all be using it! Boomers could be showing all their friends at the golf club how they’re “doing crypto” and “making free money” on their iPhones and the Tick-Tock generation could be using their pocket money to earn enough to put themselves through college!
More to Life Than Binance Smart Chain
Plus, there’s some really cool stuff happening now on top of Ethereum, with Arbitrum. I’m just getting into this so expect some of my future articles to focus on this because WOW!, it’s awesome and its potential is absolutely enormous! I made my first inroads today and it felt a bit scary, doing stuff on a different network (for the past 18 months I’ve never been outside of the Binance Smart Chain — kind of like when I first started using the internet in the 90s I didn’t know there was anything outside of AOL 😂)
Arbitrum is new. Like really new. And it looks like it’s going to be “the one to watch” this year. I definitely recommend you subscribe to receive notifications whenever I publish because you don’t want to miss this!
Time to Double Down
So I hope you are sharing my excitement now and you’re feeling optimistic about 2023 and what Crypto and DeFi have in store for us. I’m certain it’s going to be a lot better than that dumpster fire that called itself 2022.
You might not be feeling as buoyant as me but whatever you’re feeling I strongly urge you to remember that NOW is the time that fortunes will be made. By people who buy while the prices are low.
Don’t wait for FOMO to kick in and cause you to buy at the top. That’s how you lose money!
Whether you’re into Drip, Furio, Elephant Money, ARK, or whatever… consider doubling down now while the prices are low!
Take risks but don’t be reckless my friends! 😎
Got Questions or Need Guidance?
If you’re just getting started in DeFi and have some questions or need a little bit of guidance, you are welcome to drop into my Defi New Starters group on Telegram. There are several DeFi enthusiasts there who are always happy to answer your questions and offer you as much support as you need, just click the banner below:
What do you think? Is 2023 going to be an exciting year for DeFi?
Let me know in the comments!
PLEASE NOTE: Nothing in this article is intended to constitute investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits, or losses you may incur as a result of this information. Readers are encouraged to perform their own due diligence and research or consult a licensed financial advisor or broker before making any and all investment decisions. This content is intended for general informational and educational purposes only. Though the author strives for accuracy, the data contained within the article cannot be relied upon. The author may own cryptocurrencies and tokens discussed in the article. The article may contain affiliate links. DO YOUR OWN RESEARCH!
