Elon Musk seems to have his eyes on the burgeoning decentralized finance (DeFi) field.
Elon Musk continues to hang around with cryptocurrency enthusiasts indirectly. After countless tweets about the joke coin Dogecoin, Tesla CEO focused on decentralized finance (DeFi).
Elon Musk is undoubtedly one of the most interesting people interested in cryptocurrencies. In addition to being one of the richest men in the whole world, the way he communicates with mass Twitter followers and the media in general may be different to some.
As we have reported as , it has been on the agenda many times this year by mentioning Dogecoin, and it has led to a huge increase in price. Dogecoin is trading at $ 0.05 at the time of writing. However, in February, when Elon Musk increased his DOGE tweets, it had risen to levels of $ 0.08.
Now, Musk seems to be focusing on decentralized finance (DeFi). “Don’t challenge DeFi,” he tweeted a few hours ago.
DeFi coins in decline
Naturally, the tweet caught the attention of many influential people in the field, including TRON’s Justin Sun.
In any case, Musk’s tweet was thrown at a somewhat tough time for decentralized finance-based cryptocurrencies, many of which have been on the decline over the past few days. Among these DeFi-based cryptocurrencies are coins such as Uniswap’s UNI, LINK, AAVE and SUSHI. All of these had seen sharp declines in the past few days. However, at the time of writing, there seems to be a downward trend in the entire cryptocurrency market.
Meanwhile, it’s worth noting that Musk tweeted just one day after Tesla announced that he would accept BTC as the payment method for his products.