Ever since the news regarding the listing of yEarn.Finance on Coinbase Pro came out, other big exchanges have been outlining strategies to enlist DeFi tokens.
Crypto-exchanges with reputable and tight selection laws are now clamping on to Decentralised Finances. There is no doubt about the potential that this industry holds. In fact, its growth is one major factor behind the uptrend in the crypto-market as well.
As for Binance, the details about the official listing date and which token will they enlist is not yet revealed. Binance through its official Twitter account posted:
What #DeFi projects would you want to see on #Binance Smart Chain?
— Binance (@binance) September 11, 2020
This tweet in itself is a clear inclination that Binance aims to add support for the DeFi tokens. The response too was evidently bullish because most people wrote, “enlist every single token”.
However, it stays unclear which token will it be. As per the stats, yEarn Finance has been topping the chart with immense growth. Perhaps, it can be among the top 10 tokens. Right now, the tokens are sinking in the red zone.
This downtrend of DeFi tokens is somehow connected with the DeFi bubble, experts believe. As a matter of fact, just a few hours after Binance posted a tweet regarding the DeFi tokens support, CZ Binance posted a tweet that some people believe is a little strange.
Most of the DeFi projects will fail.
— CZ Binance (@cz_binance) September 12, 2020
Some may offer short term gains, but they come with super high risks too.
Don't invest money that you can't lose.
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