One of the prominent altcoin in the crypto world is Yearn.Finance. It is an open-source, decentralized finance lending protocol that runs on the Ethereum blockchain. It allows users to optimize their crypto assets through lending and trading services.
Is YFI a new competitor to the world’s top cryptocurrency Bitcoin?
YFI is one such cryptocurrency or being specific, a DeFi token that is the next expensive token after Bitcoin. At some point, the YFI price had exceeded Bitcoin price and trended for quite a long time.
In this article, let us try to understand in brief about yearn.finance and its price prediction for 2021 and beyond. All your thoughts will be cleared at the end and you will know whether YFI competes with Bitcoin.
|Market cap||$ 1,239,786,563.0000|
|Circulating Supply||$ 35,692.6250|
|Trading Volume||$ 271,015,686.0000|
|All time high||$ 90,787.0000 May 12, 2021|
|All time low||$ 31.6500 July 18, 2020|
Yearn.finance (YFI) Fundamental Analysis
YFI is a sub-governance token of yearn.finance. It was created by Andre Cronje and his team. The Defi project has no pre-mined coins, no pre-sale, no investors..
Yearn.finance is a system that depends on other DeFi services such as Aavesome, BalancerLabs, Uniswap, and many more.
One of the central practices of yearn is that you can stake your stablecoins such as DAI, USDC, TUSD, USDT, etc to earn passive income. YFI is only granted to specific liquidity providers in the yearn ecosystem.
YFI Price Prediction 2021
The price maintained a rising trend in 2021. It traded at a price of $22,281.84 during the start of 2021, due to the decline of the crypto market. Further the price surpassed its resistance level to reach $37,571.19. The price further surged magnificently and hit its all time high at $93,435 in the mid of May.
The YFI token has been hovering around $35k since the market crash. The DeFi asset is trading at $31,852 at the press time. The YFI price has the next immediate resistance around $42k, break out could result in price exploding up to $53k.
The token might rise if the market continues to be bullish. It may increase efficiency by each month if it focuses on boosting the user base. By the end of 2021, yearn.finance might be traded around the $95,000 mark on a bullish note. With regular buy and sell pressures, the asset is anticipated to trade between $45k to $50k. On the flipside, the asset might slide down to the next support level of $22,738.
YFI Price Prediction 2022
yearn.finance might trade at $95,800 during the start of January 2022. It might rise if the market continuously focuses on investing in it. It may focus on certain improvements and the price might reach newer heights. YFI might end the year 2022 with a price of around $1,58,000.
YFI 5 Years Price Prediction.
In 5 years, YFI might reach newer heights if it doesn’t come across any difficulties. It may strengthen its protocol as well as the user base. It may build several projects for the betterment of the platform. By 5 years, yearn.finance might reach the $3,10,000 mark.
YFI Market Prediction
According to WalletInvestor, YFI could be a profitable investment for the long-term. The price is expected to go up from $19,260 to $42,585 in the coming year and by 2025 the price may hit an average price of $36,242.
According to digitalcoin price, the YFI price may reach $48,191 by the end of 2021 and by 2025 the price may reach $93,156.
According to TradingBeasts, yearn.finance can reach up to $29,291 by the end of 2021 and could grow up to an average price of $52,488 by the end of 2024.
According to Gov.capital, yearn.finance would trade at $76,065.301 by the end of 2021 and could reach $1,15,000 at the end of 2025.
Our YFI Price Prediction
With the trading price of $23,832 Yearn.Finance initiated the year 2021. Tezos may reach as high as $73k by the end of 2021 and might reach around $102k during 2022. The Blockchain DApp industry explodes over the coming years. As Yearn foundation faucets continue to gain popularity, so will the number of YFI holders. This Tezos foundation faucet will also play a major role in future price movements.
|Year.||Potential High.||Potential Low.|
Historic Market Sentiments
Yearn.finance made an existence in the crypto market on 21 July, 2020 with a price of $804.44 according to Coinmarketcap. YFI started an upward trajectory from the day it was launched as it got recognized in the market. yearn.finance drastically surged to $4,156.59 at the end of July. The price significantly started to hike as the token gained the attention of the market. Interestingly, the price swelled to $33,545.84 by early September as it got listed on the most popular exchange Coinbase Pro and further declined to $21,331.82 as the market rushed to invest in yearn.
Later, YFI started rising again and broke its previous price records to reach a new All-Time-High of $43,873.82 by mid September and shockingly sank to $22,595.61 by the end of September. Terribly, yearn.finance has declined to $12,482.63 by early October as the tremendous supply pressure. With a steady recovery in price YFI managed to reach $18,268.52 and further continued to plunge.
Desperately, the altcoin sank to $8,395.52 by early November as the market turned bearish. Further it started an upward trajectory to hit $28,433.62 by the end of November as the expansion of Bitcoin’s price rally. YFI experienced several price variations and managed to trade at $29,959.52 during the end of December 2020.
Yes, YFI is an open-source protocol.
Yes, yearn is audited. You can check the reports on its website.
The defi token can be mined as it works on the Ethereum blockchain.
YFI can reach a new All-Time-High in the upcoming days.
The platform avails yield farming to maximise the users investments.