Ethereum-based Yearn.Finance (YFI) aims to simplify, decentralize and automate the yield farming strategies. YFI is its native token.
In May 2021, YFI soared over US$ $93,435 apiece but later tumbled to US$ 28,214 apiece. One Yearn was worth over US$ 30,000 as of June 21 morning.
Yearn focuses on the growing decentralized finance (DeFi) industry. It DeFi project offers yield to customers on their holdings. However, crypto experts claim that its platform is among the tougher ones for new crypto investors to grasp.
Yearn.Finance generates its revenue by collecting withdrawal fees of nearly 0.5 per cent and charges five per cent of gas subsidization. However, it can alter these set of charges technically at any time.
It is one of the expensive tokens in the crypto space after Bitcoin, which was at US$ 32,500 apiece as of June 21. Its maximum capped supply is 36,666 tokens. Because of its fixed tokens in circulation, Yearn.Finance could attract more mainstream investors to its platform.
Yearn.Finance (YFI) price prediction
Crypto analysts suggest that this token is likely to grow in the crypto-yielding segment. It may bounce back to its record high by the end of 2021.
As per historical data, the token price trajectory moves in line with the largest cryptocurrency, bitcoin. With crypto’s further mainstream adoption, Yearn token may hit US$ 100,000 by 2022.
Yearn’s blockchain-driven network has a robust daily volume of US$313 million. Its token is up 47 per cent this year, beating Bitcoin that is up 13 per cent year-to-date (YTD).
In terms of market cap, the token is at the 65th position on CoinMarketCap. The platform has a total locked value of US$4,782,956,620.
In September 2020, Yearn became the first crypto slide past Bitcoin token’s value.
The project team claims that many Ethereum investors can earn yield-farming profits even if they do not want to sell their Ethereum tokens. Thus, the network has developed the Yearn-ETH pool so lucrative.
How to buy Yearn Finance (YFI) tokens?
Crypto traders can invest and trade in Yearn.Finance (YFI) tokens through the world’s largest crypto exchange Binance, CoinTiger, FTX, Huobi Global, and OKEx.
Please note: The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.