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Highlights
- Harvest Finance is a yield maximiser protocol that operates on DeFi ecosystem to generate yields.
- On Wednesday, the FARM Coin went live on the Binance exchange, and since then, the coin has seen significant movement.
- As per CoinMarketCap, Harvest Finance is currently trading at $283.78, up by 11.71% in the 24-hour trading.
Harvest Finance or FARM Coin is a yield maximiser protocol that operates on DeFi ecosystem to generate yields. It helps farmers to invest in cryptocurrencies and benefit from it using the decentralised finance platforms. On Wednesday, the FARM Coin went live on the Binance exchange, and since then, the coin has seen significant movement.
FARM coin, as per CoinMarketCap, has been trading at $291.40 and is up by 11.71% in the 24 hours. Volume wise too, the crypto coin is up by a staggering 422.43% and is trading at $32,39,11,50. FARM coin's circulating supply is 6,06,356 coins, with a maximum supply of 6,90,420 FARM coins. Prior to the Binance listing, FARM coin in July made its debut on Coinbase, which resulted in a price spike of 201% to reach $264.
Binance announced that HARVEST Finance ALPACA/BTC/BNB trading would be available now on the platform.
Inspired by Andre Cronje, FARM coin helps allows farmers who seek to find the most fertile lands to sow and harvest. At the time of writing (BST 8 am), it's trading at $289.28 with a significant price change of 12.25%. Volume has gone up and is at $323,911,504.06, with a spike of 422.43% from the past 24 hours.
Why opt for Harvest Finance
Harvest Finance is a one-stop shop for farmers who are looking to increase profit. Due to its robust mechanism, it ensures that the impact of a volatile market is reduced. It also adds avenues for crypto enthusiasts who don't have much experience in DeFi pool to earn from farm yields profits. While the calculation of fees could become a cumbersome process for first-time farmers, the DeFi protocol makes it seamless. Besides, it allows them to save roughly $500k incurred in transaction fees, thereby increasing their profit margin. The 259th-ranked cryptocurrency is well audited and ensures that the investor's rights are taken care of, and farmers can breathe easy and maximise yields with Harvest Finance.
Should you buy FARM?
Binance, in their release, said that as Harvest Finance is a relatively new token, it will pose higher than average risk, and it will highly see high price volatility. If in a long position, the volatility can help you make a profit, but if the volatility doesn't last longer than expected, one could incur a loss as well. Therefore, even though Harvest Finance has garnered wide interest, one needs to adopt a watch and proceed approach to ensure that chances of incurring losses from the good coin can be minimised.
Conclusion
Harvest Finance has shown an impressive spike over the month, and a half and if this momentum continues, then it could very well make a significant impact on the crypto ecosystem. Harvest Finance has given better returns so far, and its ability to reduce transaction costs is drawing more farmers into the ecosystem.
