Decentralized Finance (Defi) seems to be the next big thing in the crypto space. This is evident from various Defi tokens like LINK, LEND, SNX which are making waves amid other cryptocurrencies.
Within the past few weeks, we have seen remarkable market traction in various Defi tokens and attention has now shifted to the future of this fast-growing space.
Although bitcoin seems to be putting forward stiff competition, Chainlink is by far the victor of this ongoing bull market. As the markets swing into a full fledged uptrend, Defi tokens are leading on in the race of adoption and gaining potential.
These all together, have reassured us all of the certainty of how the blockchain will succeed in the next few years to come.
What Is Yearn.Finance (YFI)?
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. Only DeFi.
Andre, the creator, describes YFI as “0 financial value” token.
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. This provides a way to partake in crypto without exposure to unstable assets! YFI is granted to specific liquidity providers in the yearn ecosystem.
YFI Price Today
Yearn.finance (YFI tokens) have brilliant market traction within the last 24 hours. Within the last 24 hours, the coin gained around 36% to maintain a week-long market gain which accumulates to 102.7%.
At the time of writing this piece, YFI is changing hands at $8,324, which is about 105% change in the biweekly timeframe.
The coin broke the $7,500 resistance level and surpassed the immediate opposition at $8,000. Before midday, YFI tested the price level at $8,500 but failed to break the level properly and fell below to build strong support at $8,200.
Within the last 30 days, YFI gained around 952% to record the most gains amongst the top gainers cryptocurrencies of the ongoing bull season.
YFI Technical Analysis
The coin came into circulationn in July of 2020. Since then, beginning with a starting price of zero, YFI has moved rapidly to record a price at around $9,000. The rapid move up is one of the grratest ever seen in the history of cryptocurrencies.
The most significant move was recorded in the same month the coin was launched. This occurred as YFI moved up to around $5000 within a few days and promising further upside.
The next two weeks proved difficult as YFI ranged under the $5,000 level before eventually supporting a bullish move towards $7,000.
A sudden price surge saw prices entering into the $8,000 region as YFI approaches $10,000 in the short term.
YFI Price Prediction 2020
With the pace and adoption occurring in Decentralized finance, we expect explosive growth in Defi tokens. This invariably, will affect Yearn.finance and skyrocket the price of the underlying cryptocurrency, YFI. As a result, a multiplicity of responses to YFI predictions go in favour of an inbound bullish trend. This may eventually push price towards $12,000 before the end of the year.
YFI Price Prediction 2021
Times two price surge is highly possible before the end of the year 2021. This means YFI, at a peak, will touch around $16,000 by this time next year.
YFI 5 Years Price Prediction.
In 2020, the price may be around $12,000 and by 2021 ending, prices may be around $16,000. In 2022, YFI may touch $20,000 and may rise to $25,000 in 2025.
YFI Market Prediction
- According to Wallet Investors (WI), the coin will go to $77,000 in one year and will be at 350,000 in about five years. The digital coin price also predicts a bullish possibility.
- According to these experts, YFI will end up at $13,000 by the end of the year. Also, YFI will improve more in 5 years. By 2025, the coin will be around $30,000.
- Trading beast paints a similar scenario. According to market prediction, YFI has an impressive long term returns on investment and highly recommended.
Our YFI Price Prediction
We lean towards a multiplicity of market predictions to make a viable and sustainable pronouncement. By the end of 2020, we expect YFI to be trading around $12,000. In 2025, however, we predict YFI to be trading around $25,000.
- What Is YFI?
This is the underlying token of the yearn.finance ecosystem. The token is a zero value token that has accumulated a lot of value and attention.
- What Is YFI pool?
A pool is one of the available cloud-based investment channels to gain from yield farming on the Yearn.finance platform.
- How many YFI pools exists?
Presently, there are 3 pools available. Also, a staking reward pool exist.
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