Yearn.finance is a protocol that enables the use of decentralized financial services (DeFi), including:
- earning interest,
The Yearn.finance Network token price once outweighed BTC due to a decentralized ecosystem of the platform which is aimed at maximizing the profit from user investments. It is worth noting that Yearn.finance runs on the Ethereum blockchain and helps users interact with several well-known DeFi protocols.
Join us and let’s take a look at the Yearn.finance Network price prediction charts together.
Yearn.finance Network price now
On May 12, 2021, the Yearn.finance Network coin price chart hit its ATH of $93,435.53.
As of this writing, YFI USD is trading at $6265 with a 24-hour trading volume of $52,584,443, according to CoinMarketCap. The price of YFI is up 4% in the last 24 hours.
In addition, there is currently almost 100% YFI in circulation (36,637 coins).
Why did YFI to USD get higher than BTC?
The project is so successful mainly because of its ecosystem. There are other protocols that influence the Yearn.finance Network price charts:
- ytrade.finance. Trading stablecoins with leverage up to 1000x.
- yliquidate.finance. Using AAVE flash loans to quickly liquidate investments.
- yswap.exchange. An exchange service through which you can deposit funds to various protocols and move from one to another.
- iborrow.finance. The ability to tokenize your loan with AAVE and apply it for use in additional DeFi protocols.
After its release, the Yearn.finance Network token price has risen many times over its pre-sale cost. At the beginning of sales, the YFI USD rate was trading at $30. However, it took off pretty quickly. In general, uptrends and downtrends replace each other. Therefore, the Yearn.finance Network price now is characterized by significant fluctuations.
The following aspects affect the value of the Yearn.finance Network price charts:
- project development;
- mining of coins;
- investor behavior;
- news background.
The successful development of the YFI platform, the positive Yearn.finance Network coin news and the reaction of customers create favorable conditions for the growth of the asset. Users receive YFI for freezing funds that are stored on the service. The amount of these finances also affects their value.
Yearn.finance Network price prediction
In case you are expecting a quick bounce back to $80k, then we have a bad Yearn.finance Network coin news for you. In 2023, the cryptocurrency will rise to $42,454. At the same time, during the year, the token can drop to $26,456. An important step will be to overcome the mark of $30,000. This will show that the project is still alive
2024-2025 will also be marked by an upward trend. The YFI to USD chart will soar to $72,300 and even $81,340, after which the Yearn.finance Network coin price chart will grow to $101,300. However, the ability to overcome such a high bar is in question.