FTX And Their New DeFi Index - Gain Exposure To The Top 11 DeFi Projects!

FTX And Their New DeFi Index - Gain Exposure To The Top 11 DeFi Projects!

By Sapphire | Sapphire Crypto | 19 Jun 2020


In April I reviewed FTX, as I had seen some really great advantages to trading on this exchange. Now, they have added yet another great advantage, the DeFi index which tracks the price of the Top 11 DeFi projects! This is an amazing tool and is especially useful and powerful when it comes to DeFi.

If you have been watching the price action of DeFi projects over the past week you will have seen some amazing gains. Compound saw as much as 140% rise in a 24 hr period! Kyber Network, Kava and other DeFi projects have been tearing up the top gainers as the market in general has been relatively quiet.

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The Top 10 Cryptos have barely made any movements, negative or positive and yet DeFi has been hinting and reminding us of the ICO phase which began in 2016.

What Makes This Index So Great?

Though things are radically different in the Crypto space now than what they were back in 2016, one thing remains the same! That common thread is uncertainty, not all DeFi projects are going to succeed. Yes, many will experience the surge of "a high tide lifts all boats" dynamic but this could be very short lived and see prices fall faster than they ascended. 

This is exactly where you want to have a product like the FTX index tracker! This basket of tokens incorporates projects like Kyber Network, Ren, Compound and Loopring. Imagine you hodl 2 DeFi plays that you believe are going to rocket as this space develops and evolves and they land up collapsing? This would be extremely disappointing, especially since you accurately called the next advancement in Crypto but chose the wrong projects. Hodling this index would remove this dynamic to a large degree. 

Instead of hodling 1 or 2 projects you would be exposed to the Top 11 most promising projects in the DeFi space. In other words, regardless of specifics, if the DeFi space really takes off you are guaranteed a seat and will secure your returns. I will definitely be buying the dips on this index as I am sure many agree, that this is the catalyst to ignite the next bull market!

A List Of The Projects Incorporated - As Well As Exchanges To Purchase Tokens (If Indexes Are Not An Option For You)

A great benefit to remember when using FTX is that there are zero withdrawal fees. This is really awesome especially as GAS prices have really increased recently! I am really glad to see this new investment vehicle on FTX and I hope others will be really impressed by this very needed tool for every DeFi toolbox!

Please remember this is not investment advice, please  DYOR.

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Sapphire
Sapphire

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Move into Crypto with Sapphire Crypto!


Sapphire Crypto
Sapphire Crypto

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Move into Crypto with Sapphire Crypto!

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