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Analyst Says New DeFi Asset Reminds Him of 137,000% Crypto Standout YFI

Analyst Says New DeFi Asset Reminds Him of 137,000% Crypto Standout YFI


Analyst and influencer Crypto Messiah is tracking a new crypto asset which he says reminds him of the red-hot performance of decentralized finance (DeFi) darling yearn.finance (YFI).

In a strategy session, the crypto strategist says Hakka Finance (HAKKA) looks “super bullish” and it is poised to surge around 910% from its current price of $0.099.

“In terms of levels though, this is pretty smooth sailing up until about $0.16, $0.17. I do think that we’re going to encounter some more resistance, some more sells in that region. It would be interesting to see Hakka range in there. I do think ultimately that Hakka will be able to come up here and test close to $1.00 at some point.”

Hakka Finance is a DeFi ecosystem with a range of products that are governed by the Hakka token which includes the automated market-maker platform BlackHoleSwap, insurance protocol 3F Mutual, and collateralized debt position provider Tokenizing CDP.

Crypto Messiah highlights that Hakka has the potential to follow yearn.finance’s footsteps.

“I do think this has the capability to be almost like a yearn of sorts. You’ve got an umbrella here. You’ve got a lot of products that exist under this ecosystem.”

During the second half of this year, YFI went on a monster parabolic after bottoming out at $31.65 in mid July and skyrocketing to an all-time high of $43,678 in September, representing an increase of over 137,000% in about two months.

As for the HAKKA/ETH, the trader says the pair has the potential to print massive gains as well.

“Hakka is something that actually looks very good versus Ethereum right now. You can see that we were in this horizontal range for a bit here and we were able to finally break free of this range… Now we’re coming up on this first real level of resistance. I do think Hakka is primed to do something here.

The most annoying thing in the world would be Hakka deciding to have another accumulation range like this. But for me, that would be a super bullish sign that we’re about to level up and do something big.” 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Shutterstock/Tithi Luadthong





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