Kraken Adding 3 New DeFi Coins!

Kraken Adding 3 New DeFi Coins!

By johnwege | johnwege | 14 Jul 2020


If you had any doubt that DeFi was the most popular trend happening in the crypto world at the moment, here is another clue that shows it is. 

The popular crypto exchange Kraken announced that they will be listing 4 new coins onto their exchange beginning July.  Of those 4 coins, three of them are DeFi coins.  The coins are as follows:

  • Compound (COMP)
  • Kava (KAVA)
  • Kyber Network (KNC)
  • Storj (STORJ)

In an email Kraken sent out to its users, they wrote,

"At Kraken, we're always striving to keep clients on top of what's happening in the fast moving cryptocurrency sector.

One of the biggest trends this year is the growth of the decentralized finance (DeFi) movement, an emerging class of cryptocurrency projects that use blockchains to offer new types of lending and market making services without financial intermediaries.

These services have seen staggering growth over the last 12 months, growing 400% to hold over $2 Billion in value."

It seems everyday there is new, exciting news in the DeFi world, and this just continues that.

Compound being added to the exchange was a no-brainer in my opinion, as it has been somewhat the talk of the summer in the crypto markets.  Being released onto Coinbase over a month ago, Compound was the coin that set off the Yield Farming trend, and perhaps years later when we look back at the bull market, perhaps Compound will be considered the coin that was the whole catalyst that set everything off.  After being launched on Coinbase it surged in priced, over 400% up, but has since pulled back towards its real market value.

Also, one of my favorite picks for this DeFi trend, KAVA is also being added, along with Kyber Network which just added the ability to stake.

I have mentioned it in previous articles, but I am incredibly bullish, and while I believe that during the next bull run practically all coins will see gains.  But it will be the DeFi sector coins that will see the largest gains in terms of percentage.  Although I am concerned about a future price bubble burst that could affect this sector similar to what happened during the ICO craze.

So what do you think?  Are you becoming more and more excited for DeFi, and a bull market beginning?  Do any of these new coins interest you?

As always, thank you for reading!

 

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johnwege
johnwege

Hello I'm John Follow me on Twitter! https://twitter.com/johnwege


johnwege
johnwege

Living day by day, stacking sats and trying to retire early. Check out my substack blog https://johnwege.substack.com/ Follow me on Twitter twitter.com/johnwege

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