Last night on Monday night, when the popular TV game show Wheel of Fortune was broadcast live, a contestant named Jeremy introduced DeFi to viewers for the first time while simultaneously mentioning Bitcoin and cryptocurrencies as a whole.
This is why this is just the start of decentralized financial tokens that are generating enough wealth to turn heads, along with a look at how they have performed so far.
Game Show Contestant educates millions of Americans about decentralized finance, bitcoin, and crypto
As meaningless as it may seem on the surface, if something makes it on prime-time television, it generally “made it”. When bitcoin and crypto emerged in response to America’s favorite game show Jeopardy, it was undeniably significant because of the sheer audience size alone.
Reaching more than ten million viewers per episode, Jeopardy shares a one-hour block on television with another hugely popular game show, Wheel of Fortune. The Wheel of Fortune allows contestants to spin on a wheel for a chance to win big.
Related reading | Analyst: Post Bitcoin, traditional finances are pouring into DeFi, not Ethereum
Last night’s airing, contestant Jeremy announced to host Pat Sajak that he works in “decentralized finance,” or DeFi, as it is commonly known. He compared the industry to bitcoin and cryptocurrencies for those who would be more familiar with those terms.
The mere mention of DeFi on TV might lure those with their curiosity about Google, much like the uninformed did about Bitcoin in 2017. Today not so many have to learn about Bitcoin anymore. Could this be the way DeFi is on? And if so, what could this mean for investors?
Millions of Americans have just found out about DeFi on Wheel of Fortune. Jeremy is not the hero we deserve, but he’s the hero we need.
I’ll say it again – we’re just getting started with friends. pic.twitter.com/dQws1tScGk
– Daniel Armitage (@dcarmitage) January 26, 2021
Before and after: DeFi tokens get investors to spin on the wheel of fortune
Altcoin season is here, but it’s not the same as always. Not all boats go up with this high tide. Instead, the 2017 capital flows into the real value of untested and freshly minted altcoins.
Related reading | Altcoin Expert: Buy A Crypto That Will Last During Bitcoin Failure
DeFi has staying power and is very early on in terms of asset performance. Just take one of the standout DeFi token shows in just two months, the fortune that was made.
The standout star AAVE has grown 1000% in two months from its November 2020 low Source: AAVEUSD on TradingView.com
Since the November low of the DeFi token AAVE, it has risen 1000% against the dollar. Several other coins in this category have performed equally or almost equally well.
Ethereum, the primary cryptocurrency network that most DeFi tokens are built on, has also delivered significant returns for investors so far in 2021.
The trend at DeFi is only just beginning, and with a maximum supply much lower than Bitcoin’s, tokens like AAVE have a lot more climbing before all is said and done.
Featured image from deposit photos, charts from TradingView.com