Millennials Outsmart Wallstreet - CRYPTO FRIDAY

Jan 29, 2021

Hey DEFI TIMES community,

On Reddit, you can visit a sub-Reddit called "wallstreetbets." It is a place where people talk about the stock market and option trading.

The people in the forum identified GameStop as an undervalued investment opportunity approximately 18 months ago. They built a significant long position on it while well-known wall street investors (Citron Research, Melvin Capital) kept shorting GameStop. More than 120% of the stock was lent short at some point.

Even Michael Bury, known for the movie "The Big Short," also built a hefty long position on GameStop. The tension continued to become more intense, and then it happened: Reddit users pumped the stock to the moon. It rose from $30 to more than $300 within just a few days.

The news went viral. Even Elon Musk tweeted about it!

Elon Musk @elonmusk

Gamestonk!! reddit.com/r/wallstreetbe…

Absolutely mind-blowing! Retail investor completely outplayed Wallstreet on this one! The internet has removed a lot of barriers for retails investors. Pretty much anyone can access any information on the internet. Open communities on Reddit enable people to leverage the wisdom of the crowd!

Combine open communities with aggressive traders, and you beat Wallstreet!

Never bet against the internet!

Subscribe to our newsletter to level up your crypto game!

Enzyme Finance

Enzyme Finance @enzymefinance

Today, we're excited to announce Enzyme; the asset management layer for: 1. Savers who don't have time to stay on top of all the DeFi opportunities 2. Portfolio Managers who want to build, scale & monetise investment strategies 10 new features 👩‍🔬 medium.com/enzymefinance/…

medium.comIntroducing EnzymeYou spoke, we listened! Enzyme (formerly known as Melon) is directly inspired by our users and the DeFi community at large. We couldn’t be more excited to unveil it with you. It’s no exaggeration to…

Melon is rebranding to Enzyme Finance. They will have a major upgrade too. Among other features they will have:

- Synthetic Assets

- Many more assets

- Yield farming opportunities

- Dex aggregator integration

Auctus and Binance cooperation

Auctus Project @AuctusProject

Auctus Partners with Binance X to Bring Options trading to the Binance Smart Chain! We are excited for the beginning of a fruitful partnership with the Binance team & what we can build together! blog.auctus.org/auctus-partner… @binance @binanceX @binanceLabs @binanceChain @cz_binance

blog.auctus.orgAuctus Partners with Binance X to Bring Options trading to the Binance Smart ChainWe are excited to announce that Auctus ($AUC) is the first on-chain options protocol to launch on Binance Smart Chain , allowing traders a low-cost alternative to trading their favorite options…

Auctus will partner with Binance to bring options on the Binance Smart Chain. Users will be able to buy and sell options using BNB.

StakeDAO

Stake DAO @StakedaoHQ

Stake DAO is Live. Welcome to the new multi-service DeFi platform built by the community. We offer some of the most effective and unique investment strategies in a user-friendly interface. Find out more here 👇 stake-dao.medium.com/stake-dao-is-l…

stake-dao.medium.comStake DAO is liveThe entire DeFi ecosystem has been leveraged to give you access to the most effective and the most unique investment strategies. All the incredible products by our friends at Yearn, Curve, Pickle…

StakeDAO is a fork of Zapper created by Julien Bouteloup. Its aim is to be a one-stop yield shop and allows users to easily participate in yield-bearing activities. It will also have FIAT on- and off-ramps.

Robinhood stops GME trading

Robinhood suspended the trading of GME after the Wallstreetbets incident. Remember: central institutions are not your friends. Litlle guys are not protected in the world of traditional finance. Only the big players have a say. Just one more reason to use DeFi services.

Grayscale lists AAVE, DOT, and ATOM?

Cointelegraph @Cointelegraph

Is Grayscale is about to make a splash in the DeFi waters? New trust filings were revealed earlier this week for $AAVE, $DOT, and $ATOM.

buff.lyGrayscale prepares for DeFi future with new cryptocurrency trust filingsGrayscale could be set to expand into the DeFi space after the firm registered trust filings for five new coins, including some of 2020′s decentralized finance heavyweights.

Grayscale prepares three new trusts consisting of AAVE, DOT, and ATOM. It is inevitable: institutional money is entering the industry: bullish for DeFi.