Decentralized Finance (Defi) seems to be the next big thing in the crypto space. This is evident from various Defi tokens like Yearn Finance (YFI ) is 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.
Also Read: Top 10 Potential Defi Projects For the Last Half of 2020
Is YFI a new competitor to the world’s top cryptocurrency Bitcoin?
In this article, let us try to understand in brief about yearn.finance price prediction for 2021 and beyond. All your thoughts will be cleared at the end and you will know whether YFI Price competes with Bitcoin.
Table of contents
Overview
| Cryptocurrency | Yearn.Finance |
| Token | YFI |
| Price | $ 30,840.0000 |
| Market cap | $ 920,864,135.0000 |
| Circulating Supply | $ 30,000.0000 |
| Trading Volume | $ 481,596,189.0000 |
| All time high | $ 43,678.0000 September 12, 2020 |
| All time low | $ 31.6500 July 18, 2020 |
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..
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 Technical Analysis
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.
YFI Price Prediction 2021
YFI 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 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 $82,000 mark.
YFI Price Prediction 2022
yearn.finance might trade at $82,600 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 $1,28,000.
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 $2,80,000 mark.
YFI Market Prediction
- WalletInvestor
According to WalletInvestor, YFI could be a profitable investment for the long-term. By the end of 2025, yearn.finance would trade at $2,41,198.
- TradingBeasts
According to TradingBeasts, yearn.finance can reach up to $66,111.017 by the end of 2021 and could grow up to $1,26,259.523
- Gov.capital
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 a price of $22.281.84, yearn.finance commenced in the year 2021. On a bullish note, the price started to grow further. YFI might likely rise, as it is the growing Defi token. Its price may fall if it fails to reach the expectations of the market. It could focus on the enhancement of its platform. At the end of 2021, yearn.finance might be exchanged around $85,000 and may reach the $3,00,000 mark.
Also read :
Total Votes
FAQ
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.
Source: https://coinpedia.org/price-prediction/yearn-finance-yfi-price-prediction/
