The DeFi boom is in full swing and cryptocurrencies like RUNE have become extremely popular to speculate on. There are a lot of projects out there to research and even more people who are polarized on which coins are the best to buy for those big 10–100x returns like we saw in the 2017 ICO crypto cycle.
Crypto market cycles like 2017 (and now 2020) offer a lot of potential opportunities. There are opportunities to make a bunch of money, but for all of the opportunities to make money, there are hundreds of traps for you to lose money. How do we weed out the winners from the losers?
I finally gave in back on July 26th and bought some RUNE for the first time. This was just a few days after it got listed on the main Binance exchange and had a short correction after the pump.
The funny thing is that DeFi hadn’t even started to get really crazy yet. That happened just a week or so later and the timing of my RUNE buy couldn’t have been better. At the time, I didn’t know what was happening with DeFi, so I just dumped my RUNE at around $0.70 — thinking that it was a short-term alt coin pump.
Rune continued upwards and I was kicking myself for not buying more than a few hundred dollars worth back when it was first getting recommended to me. I learned my lesson and bought recently after a dip (shortly after this podcast was recorded, actually).
Outside of RUNE, there are plenty of other DeFi coins with a lot of pump potential both in the short-term and long-term timelines. Nobody really knows which ones will pump, but that’s part of any crypto cycle. I like the approach of looking at these coins as akin to venture startup investing: you’ll probably lose money on 9 of them, but the 10th one will be your unicorn winner that outperforms all of the losses.
We talk about it more in this clip from the latest LEO Roundtable Podcast episode.
RUNE’s official website: https://thorchain.org/
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