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Former Goldman Sachs manager thinks ...

Former Goldman Sachs manager thinks DeFi market will outshine Bitcoin in popularity
CONTENT

  • Former manager of a large American bank predicted a drop in interest in bitcoin

  • Decentralized finance will become a new trend

  • Exchanges are following demand, despite frequent hacks of DeFi protocols

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Former Goldman Sachs manager thinks ...

Over the long term, Bitcoin will lose popularity compared to decentralized finance products, said former Goldman Sachs trader.

Richard Rosenblum, the former head of international crude oil trading at Goldman Sachs, believes that DeFi is coming soon. More) will eclipse Bitcoin in popularity. Rosenblum said this in an interview with the YouTube channel TD Ameritrade Network.

The ex-manager of Goldman Sachs believes that bitcoin will continue to develop, but all the attention will be on the DeFi market:

Former Goldman Sachs manager thinks ...

“It seems to me that we will increasingly talk about DeFi … Bitcoin is an exciting product, and some of my funds have been invested in it, and it will even probably continue to grow, but what is even more interesting are new products that represent other means of decentralized finance “.

Rosenblum also noted that cryptocurrency and traditional financial markets have one similarity – in both industries, the first inflated bubble was caused by massive speculation..

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Former manager of a major US bank believes the current hype around DeFi is the real “adoption of [cryptocurrencies] in the real world.”.

“In the coming years, you will hear more about decentralized finance and less about bitcoin,” he said..

Meanwhile, the popularity of the DeFi market has already affected not only the growth in the market capitalization of the largest stablecoin, but also the record profitability of Ethereum (ETH) cryptocurrency miners. At the same time, hackers are still looking for flaws in the protocols of popular DeFi projects. The BeInCrypto editorial staff, for example, previously reported that the attackers withdrew $ 8 million from the bZx DeFi platform, which was the third attack on the protocol in 2020..

In August 2020, attackers hacked the Opyn DeFi protocol put options and withdrawn at least $ 371,000 in user money in a double-spend attack. However, the major cryptocurrency exchanges are not going to stand aside from the hype around the new market, even with a major market correction. DeFi tokens have already been listed on platforms such as Gemini, Coinbase, Binance and OKCoin.

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Former Goldman Sachs manager thinks ...

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