🔥The aftershocks of the 1011 crash are still lingering; beware of a chain reaction of DeFi failures! Don't rush to buy the dips in various altcoins. In the past two days, concerns about a “DeFi cascading liquidation” leading to a further liquidity crisis have spread in the crypto community. A Trump crypto advisor to Bitcoin Magazine stated that the credit crisis in DeFi lending is evolving into a crypto liquidity crisis. If collateral cannot be used for margin calls or hedging fails, it could very well spread from DeFi to CeFi. What exactly happened? See here 👉 "DeFi's potential $8 billion disaster, only $100 million has exploded so far." followin.io/zh-Hans/feed/21353...…
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David Bailey
@$1.0mm/btc is the floor
11-07
A credit crisis in defi lending is becoming a crypto liquidity crisis. Very plausible contagion spreads from defi to cefi if collateral is unavailable for margin calls or hedges fail... Oct 10th round 2. Hope this doesn't play out but stay safe and avoid counterparty risk.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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