This Altcoin Is Crazy! BitMex CEO: These Legendary Levels Are Next
Popular altcoin Yearn Finance (YFI) has increased by over 70% in the past 24 hours to $ 37,630 per token. This is the highest price the crypto has reached and may continue to rise, according to some experts. So what prices can Yearn Finance (YFI) see now?
Popular altcoin Yearn Finance (YFI) hits $ 37,630!
The DeFi market continues to attract large numbers of investors and users from all over the world. Some of the projects help users make a profit with the price of digital assets. Yearn Finance has been a hot topic as it has surged to over $ 31,000 in recent days. Yearn Finance was created a few months ago and is a financial protocol that aims to increase liquidity in the DeFi market. Thus, the funds deposited by users will be used as liquidity for projects that currently offer the best performance.
For this to happen, Yearn Finance has created a series of smart contracts that do not require the intervention of a central authority. The YFI token was also created for users to join the Yearn Finance ecosystem. Despite being used as a governance token, the YFI digital asset has recently taken flight. The interesting thing about this cryptocurrency is that there is only 30,000 YFI in existence. This means that if demand spikes the price will definitely be affected.
Arthur Hayes: YFI could jump to $ 100,000 in the future
Since July 21, YFI has increased by over 3,880%. This is tremendous growth for a digital asset that even the founder of the project claims has no financial value. At the same time, this digital currency is used as leverage in other DeFi protocols. BitMex CEO Arthur Hayes wrote on Twitter that he believes YFI could skyrocket to $ 100,000 in the future. Many experts think the price could go higher if the YFI bubble continues.
— Arthur Hayes (@CryptoHayes) August 30, 2020
In a second statement, Arthur Hayes repeated that 1 YFI could reach $ 100,000. The YFI and DeFi market is currently the bubble of the Bitcoin and Initial Coin Offerings (ICO) craze in 2017 and early 2018. If this trend continues to grow without a correction, we can see the market collapse and the entire industry affected, according to experts.