What Is DeFi? Inside the Wild West of Cryptocurrency. – Barron’s

Bitcoin investors are probably thrilled with the coin’s 50% gains over the past few weeks. But that’s nothing compared with the Squid Game token that popped up this week. Pegged to an online game inspired by the hit Netflix series, the “play to earn” coin rocketed nearly 5,000% …….

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Bitcoin investors are probably thrilled with the coin’s 50% gains over the past few weeks. But that’s nothing compared with the Squid Game token that popped up this week. Pegged to an online game inspired by the hit Netflix series, the “play to earn” coin rocketed nearly 5,000% over three days, going from 12 cents to $6. It’s now worth $475 million, according to CoinMarketCap.

Source: https://www.barrons.com/articles/what-is-defi-wild-west-crypto-51635526163