Today I want to talk to you about recent developments at DeFiChain and why I think we’re seeing a turnaround right now.
1. Psychology and market sentiment
First, I would like to talk about psychology and market sentiment. It’s clear that sentiment hasn’t been the best in recent months. But I have a feeling that the tide is just turning and we are seeing a positive change in sentiment.
2. Network effects and the Utility of DFI
Another important point is that there are massive network effects. The utility of DFI is increasing massively. So far, DFI has mainly been used for the consensus algorithm. But now the concept of gas is added, which is one of the main drivers on Ethereum.
3. New exchange partners for DFI
For the first time in a long time, new ways to get DFI have been added.
4. Deactivating the Burn
An interesting point added on Friday is the deactivation of the burn bot. So far, more than 100,000 DFI have been sold every day. It’s not entirely clear if this has an impact or not, but since these Burns have been shut down, the price has been steadily increasing.
5. Dollar Cost Averaging
Another point that I am positive about is the Dollar Cost Averaging that has now started. It has attracted a lot of people and is creating regular buying pressure.
6. Your opinion counts!
I want to hear from you! What do you think about the current developments? Do you think the Burning deactivation is good for the price? What projects do you see as particularly bullish for the future? Let me know in the comments!
7. Conclusion
Times are changing and I am optimistic about the future of DeFiChain. There are a lot of positive developments and I’m excited to see how everything will evolve. As always, make your own decisions and get well informed. Until next time, Julian.
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Julian
CEO Cake Group & Bake
