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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Be Wary Searching For The Next DeFi Star Warns Crypto Advisor

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
3 mins read
bitcoin coinbase crypto warning concerns

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Each week, it feels as if another DeFi project becomes the talk of the crypto market with buzz surrounding the astronomical gains these assets keep bringing investors. It’s got investors on the hunt for the next big breakout star in the hot to trot world of decentralized finance.

However, one hedge fund manager and crypto advisor is warning that it may be dangerous to dive in headfirst to new DeFi projects in hopes of discovering the next big thing.

Decentralized Finance Bandwagon Keeps On Trucking Along

At the tail end of 2019 and into early 2020, the decentralized finance (DeFi) craze caused Ethereum to rally by over 125%. The asset’s best new use case went parabolic in user growth, as well as the amount of ETH locked up in related applications.

Soon, that interest and booming trend made its way into several Ethereum-based ERC20 tokens each with different benefits related to DeFi.

Related Reading | Fund Manager: DeFi Will Propel Ethereum To $1 Trillion Market Cap

Some assets allow for another big new crypto buzzword called yield farming. This let’s crypto holders put other assets up for borrowing, earning an interest yield on any asset lent out.

Being able to make an additional return on investment on top of asset valuation growth has prompted these assets to skyrocket. The trend is showing no signs of slowing, and each week another DeFi-centric token steals the limelight.

Weeks ago, it was Compound, and this week, it was LEND. Now, its got investors on the hunt for what could be next. But it could prove to be dangerous hunting grounds, according to one crypto fund manager.

0/ As the major DeFi tokens continue to surge in value, it is tempting to try and find the next undiscovered DeFi gem.
There is a reason the DeFi majors are the prime beneficiaries. They are battle-tested and are positioned to capture much of the liquidity flowing into DeFi.

— Kelvin Koh (@SpartanBlack_1) July 20, 2020

Honing In On New DeFi Hype Could Prove Dangerous, Warns Crypto Advisor

According to a partner at The Spartan Group, a crypto hedge fund and advisory firm, it may not be wise to seek the next shiny new DeFi coin. In a detailed Twitter thread, the former Indus Capital Partner and Goldman alum explains why it is especially risky to invest in lower-tier DeFi projects over “majors.”

They claim that the largest assets currently are the biggest beneficiaries of the current DeFi craze because they are “positioned” to be so. These are “proven,” “battle-tested” projects with real promise and teams behind them.

Venturing out to find the next big thing could lead to projects that over promise and “fail to deliver.”

If this at all sounds familiar, its because this is the same exact thing that happened during the ICO boom in 2017. The first of its kind altcoins that caused the initial hysteria were the promising projects that brought investors wealth, while any coins jumping on the bandwagon left investors burned and scorn.

Related Reading | The Great Ethereum Debate: DeFi Versus ICOs

Several ICO projects are valued significantly less than their initial launches, and will likely never return to such prices. Many of these projects are completely abandoned today, yet cashed in on the surging buzz surrounding ICOs at the time.

DeFi, while a much more sustainable and promising in the long run than ICOs, still has the potential to promise too much, and provide too little in return.

And as the crypto advisor warns, although there’s always a chance to strike it rich, finding the next big thing sometimes ends up being a dangerous move. Sticking to the tried and true tokens that were embraced initially by the crypto market, often proves to be the wisest decision.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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