The entire idea that NFTs were viable as financial primitives this early in their asset lifecycle is deeply questionable, though offering the service seems perfectly valid (and potentially quite lucrative). But, oh my god, is it ever a bad idea for a borrower to go into debt against a volatile asset, crypto or not. Now these borrower’s Apes are being force-sold at the bottom of the market, instead of waiting for a better moment.
Jul 05, 2023
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