The CEO of the crypto derivatives exchange BitMEX announced that he is investing in the DeFi craze. In a new blog post, Hayes says he’s allocating small amounts of capital to DeFi tokens to drive the wave and learn about DeFi. His CEO explains his views as follows:
“I expect to lose most of the money I ‘invested’ in any of these projects. I like to believe that I can read market sentiment in my head and climb to the top of the bull market. But in reality, like many other traders, I will buy at the highest price, hold, hold, hold and sell after peak. ”
DeFi Advice from Hayes
Hayes says the top three DeFi recommendations for newcomers to cryptocurrency are Yearn Finance (YFI), Aave (LEND) and Polkadot (DOT).
YFI is the management token for Yearn Finance, a decentralized aggregator ecosystem that optimizes token loans. On the other hand, DOT is the native token of Ethereum Challenger Polkadot, which integrates private assets and data between different blockchains.
As for the crypto king, Hayes says he is “a big bullish price target” and expects the leading cryptocurrency to move in the final quarter of 2020.
“As the politicians defaced themselves to continue feeding in the pit, the financial markets will come alive. Unfortunately, this will have lasting effects on the lives of everyone around the world. Due to chaos, more and more people will not rely on central power and will seek ways to protect their capital from the senseless destruction inflicted on them by their rulers. For this reason, I think gold and Bitcoin are ready to be rocketed. “