BlockFi May Soon Reduce Interest Rates To 0 or Negative, Alternatives?

BlockFi – the centralized lending/borrowing service for crypto-assets particularly Bitcoin, recently lowered down its interest rate or Annual Percentage Yield (APY). The custodial service stated on its website that its because of the rising Bitcoin prices and falling demand for borrowing BTCs. Crypto-influencers heavily promote this project. BlockFi is not decentralized and carries custody/insolvency risks. That’s why it is strange behavior. On the other hand, the services referral link and commission-based business model are well explained.