The sector of decentralized financial applications mainly associated with new and relatively unknown projects in the recent past, but now it is Bitcoin's turn. The volume of bitcoins blocked in applications is growing, and this factor is added to the piggy bank of possible reasons for the growth of the cryptocurrency in the medium term. The higher the volume of blocked tokens, the lower the supply of the asset on the free market, which means the higher the price. As you can see from the DeFi token yearn.finance (YFI), even $ 40,000 is quite an achievable figure for a cryptocurrency with a very limited emission. Unlike YFI, whose capitalization is hundreds of times less than bitcoin, the first cryptocurrency will need significantly more market movement for such an impressive price increase, however, the DeFi sector demonstrates that cryptocurrencies are dynamic and still have the potential for explosive growth.
Carlit0oo September 16, 2020 Reply
According to The Block, the OTC trading volume of the leading DeFi coins yEarn Finance (YFI), Synthetix (SNX) and Compound (COMP) has grown 8 times since the beginning of the year. Given the recent impressive fluctuations in yEarn Finance (YFI), the opportunities for speculation in the DeFi sector are now extremely impressive.
Julius_Irwin September 14, 2020 Reply
A key reason for the hype around the DeFi sphere has been the insane growth in the rate of related cryptocurrencies. For example, the flagship of the DeFi market, the token of the Yearn Finance (YFI) platform, was released on July 18 and has risen in price by about 100,000% since then. Other coins such as UMA, TRADE, RING showed less growth in value, but still helped early investors to increase their capital tens and hundreds of times.
Shantanio September 14, 2020 Reply
Lately, mostly the market has been pulled up by DeFi coins. However, more and more pessimists appear about their prospects. They point to many signs of a bubble, the collapse of which could lead to a redirection of funds towards the most famous cryptocurrencies, or again cool interest in the entire market for a long time.
Warrennnn September 3, 2020 Reply
It is likely that attention to the top ten cryptocurrencies will weaken in the near future, as players appear on the horizon, who simply cannot be ignored. Of course, we are talking about yearn.finance (YFI), which broke into the TOP-30 in terms of coin capitalization. Thus, the long-standing assumptions that bitcoin may be "the first, but not the main one" will begin to be realized in the next few years, which will redraw the list of leading cryptocurrencies.
AriAdna September 1, 2020 Reply
YFI continues to conquer new heights. The DeFi token of the yEarn Finance (YFI) project briefly rose above the $38000 mark, and the capitalization surpassed the $1 billion mark. The token was issued on July 18 at a price of $ 32, and now costs more than $33000. In a month and a half, the rate has grown 1000 times. The yEarn Finance project climbed to the fifth line in the DeFi Pulse rating, ahead of the notorious Synthetix and Compound in terms of blocked cost. YFI is one of the most scarce cryptoassets - there are only 29963 coins in circulation, and their total supply is 30,000. It is likely that the growing speculative demand for a very limited asset in supply and the popularity of profitable farming are the main reasons for such a rapid growth of yEarn Finance. In addition to the limited emission, the YFI token has a second feature - it is "absolutely useless" and has no fundamental value, the project developer said during its release. YFI is the yearn.finance DeFi protocol governance token and allows its holders to participate in the decision-making process on its future development vector.
Brun0 August 31, 2020 Reply
Bitcoin's price high was $20000, but this level was easily beaten by yearn.finance (YFI), which at some point exceeded $37000. Considering the incredible growth of 4000% even by the standards of the crypto market in a little over a month, the main question that all participants in the crypto market are asking is: when will the sale start? - In some moment. YFI may show growth up to $ 100,000. This is a very wake-up call as there are all signs of a bubble. At the moment, the growth has stopped, but no one wants to exit early or enter the market too late, so the scales may tip to either side in the near future.
Shantanio August 31, 2020 Reply
The emergence of new names among market leaders is becoming the best advertisement for the entire crypto market as a whole. As a result, even if these coins do not meet the expectations of investors, investment flows that find themselves in the cryptosphere are likely to head towards market leaders.
Michael August 30, 2020 Reply
Yearn.finance has become the star of the altcoin market in recent years. Its price soared to $ 15,400, being the highest for a coin on the crypto market. In a month, it showed twenty-fold growth, becoming living proof of the possibility of new “unicorns” appearing on the crypto market. The coin's meteoric rise also reflects the popularity of the decentralized financial sector. The creators of the project decided to follow the path of bitcoin, limiting the issue of only 30,000 YFI coins. This limited supply is fueling a rapid rise in price.
Shantanio August 22, 2020 Reply
The yearn.finance (YFI) coin has outpaced bitcoin in value and is now trading at $ 14K, reaching $ 16K at some point over the past day. There is such a strong vibration around DeFi cryptocurrencies, strengthening FOMO in relation to the current direction for digital currencies.
ComputerScientist August 22, 2020 Reply
YFI is the native token of the Yearn.Finance system. Yearn.Finance is a DeFi yield farming system, focused on making it easier for users to automatically farm the highest-yields possible with their cryptocurrency. Yearn is a growing collection of DeFi services, intended to act as a simple gatew...