Topic: Remember yearn finance (YFI)?? - page 2. (Read 368 times)
Right now, Yearn Finance is around $33K per coin and as far as I can feel it there is nothing more energy left with this platform - unless of ceruse the team behind it can re-engineer and re-invest the whole thing to have it come up with more innovations that the market of DeFi would love and be excited about. Still, we are recognizing YFI to have a big histories as the one that overtook the value of Bitcoin for a period of time. As of now, its value can be moving sideways and can take time before it can show some upward movements.
I don't like this token. It looks fantastic that YFI ATH was higher than BTC (82K) with total amount of tokens in circulating 36 638 YFI coins and capitalization a little bit more than 1 billion. Just compare with BTC: 18,905,200.00 BTC tokens in circulating and market cap of $979,968,312,106 USD. I think that YFI was artificially pumped by its developers or something that is why price suddenly jumped so high but then felt down again. If it is so, than those men can again pump and dump YFI at any time.
Yearn finance and other copycats enjoyed the hype of defi trends and got the most attention because they had low circulating supply and were destined to moon. Immediately the Defi crazy began dieing down so did they also. They got to their milestone based on hype and not because of any uniqueness of their products. Be cautious of investing in similar products with same ideology in future, as they way they got hyped up so will they crash down.
Previously we had the ICO hype, which resulted in the drastic market change of almost every project. Soon after that more than 90% got vanished out of the market. The teams made good profit and left. By the time some users benefitted, while the users who kept hold believing in the hype got fooled due to more tokens delisted.This time we had the hype of defi. Yearn finance is one that made it known to the cryptospace, because defi isn't much into discussion. Soon after its progress it was much into discussion and people started to pour more into defi without understanding the limited supply that is making the price changes in huge margin. Now the hype have moved to next set of market trend.
legendary
Activity: 2240
Merit: 4133
eXch.cx - Automatic crypto Swap Exchange.
This token was able to hit $43k milestone from $31 within just two months from launch. It might be a simple thing in crypto world but i'm remembering it because of it drew attention when it hit $90,786.89 ATH on May 12, 2021 which is bigger than bitcoin price.
Price of a coins is determined by the circulating supply and current money invested in the price which is the market capitalization. The total supply doesn't even have much effect expect for its physiological effects for those who understands how that can affect the price in the future and influences their decision to invest. This is to say you don't look at the price when considering how effective a project has been. Any coin can come up with just a few supply just to get fomo in and have price higher than Bitcoin, thats doesn't affect Bitcoin in anyway.
Yearn finance and other copycats enjoyed the hype of defi trends and got the most attention because they had low circulating supply and were destined to moon. Immediately the Defi crazy began dieing down so did they also. They got to their milestone based on hype and not because of any uniqueness of their products. Be cautious of investing in similar products with same ideology in future, as they way they got hyped up so will they crash down.
This token ranks second in price on coinmarketcap. It is very difficult to predict the price of such tokens due to their small Total Supply.
I would be wary of buying this token because it is a fake project that accidentally became popular. Better to invest in coins that have clearer perspectives.
I would be wary of buying this token because it is a fake project that accidentally became popular. Better to invest in coins that have clearer perspectives.
Let us say, it is not a fake project but what I was curious about this project is how come they have very high value in the market, considering that I don't know many people using their services. When their platform was not yet up and running, their price was already expensive, so what I thought before was, this was manipulated by the team themselves or their cohorts. Their total supply is very low, this is the given reason why they can give a higher price on this project. But are there really people using their defi platform? Sooner or later, we will see the true value of this project, it is now already about one third of its ATH, so I believe, they will go down more.
"Last month, Cronje tried to put some distance between himself and his protocol by creating YFI. The so-called governance token, issued as a reward for people using his protocol, lets holders run the network. Cronje intended for YFI to be “a completely valueless 0 supply token,” he wrote in a blog post. “We reiterate, it has 0 financial value.” "
https://decrypt.co/37995/exclusive-yfi-andre-cronje-broke-quitting-defi
https://medium.com/iearn/yfi-df84573db81
This token ranks second in price on coinmarketcap. It is very difficult to predict the price of such tokens due to their small Total Supply.
I would be wary of buying this token because it is a fake project that accidentally became popular. Better to invest in coins that have clearer perspectives.
I would be wary of buying this token because it is a fake project that accidentally became popular. Better to invest in coins that have clearer perspectives.
Let us say, it is not a fake project but what I was curious about this project is how come they have very high value in the market, considering that I don't know many people using their services. When their platform was not yet up and running, their price was already expensive, so what I thought before was, this was manipulated by the team themselves or their cohorts. Their total supply is very low, this is the given reason why they can give a higher price on this project. But are there really people using their defi platform? Sooner or later, we will see the true value of this project, it is now already about one third of its ATH, so I believe, they will go down more.
This token ranks second in price on coinmarketcap. It is very difficult to predict the price of such tokens due to their small Total Supply.
I would be wary of buying this token because it is a fake project that accidentally became popular. Better to invest in coins that have clearer perspectives.
I would be wary of buying this token because it is a fake project that accidentally became popular. Better to invest in coins that have clearer perspectives.
Full of hype that did’t last longer to protect its value and I still see this as a risky project before fortunately I didn’t join the hype and choose to invest on Bitcoin instead, now I’m still buying because the price is cheap and this is a good time to buy more. There’s a lot of hype tokens before, most of them is dead already.
I remember when YFI was listed first above bitcoin on CMC and that caused many reactions that bitcoin is losing spot but people didn't know that bitcoin still has volume above the token and currently YFI is taking it back stage below bitcoin. About investment on it, I will still prefer bitcoin far above it.
That was amazing moment to see other altcoins takes over Bitcoin, but it didn’t last since this is not good fundamentally compare to Bitcoin and still the support of Bitcoin was big as expected and that’s why it was able to rise again. Honestly, without a hype no altcoins can take over Bitcoin in just a months, that’s not healthy for me. 
but did the market cap pass that of bitcoin? No!
Its marketcap couldn't surpass Bitcoin at the time it hit that ATH simply because it's total supply is 36,666 while Bitcoin stood at a whopping 21 million (when compared to YFI). At a point, because of what the YFI token achieved within a short time, developers of new projects at the time had to add the "YF" tags to their projects, the same way a lot did with "Shiba" and "Inu" when Shiba Inu became a hit. Well, on YFI; I believe that it's going to stay a lot longer on the scene. It's not going to be a flop like many projects before and after it. It sits currently at $31k plus, slightly around $15k less than what Bitcoin price is today. That's a good thing. It still shows strength. 
With the total supply of YFI coin, which does not exceed 36,666 tokens, it can achieve a fantastic price in the event that large funds are invested by financial institutions and large investors, but it cannot achieve a market value higher than the market Bitcoin, for this reason, it is unlikely that the price of yearn finance will greatly increase.&&
YFI can create a huge success in the crypto-world, but along with it, we also need to prepare itself for the road ahead of us, including security and other aspects we have to keep in mind before investing.
YFI can create a huge success in the crypto-world, but along with it, we also need to prepare itself for the road ahead of us, including security and other aspects we have to keep in mind before investing.
I remember when YFI was listed first above bitcoin on CMC and that caused many reactions that bitcoin is losing spot but people didn't know that bitcoin still has volume above the token and currently YFI is taking it back stage below bitcoin. About investment on it, I will still prefer bitcoin far above it.
Yearn Finance is an Altcoin with DeFi utility, I don't think it's worth buying it now, because there are so many Altcoins with other DeFi utilities that still have a low market cap.
If you ask me for advice, then I would suggest looking for other Altcoins that are in the early stages to get more profit.
If you ask me for advice, then I would suggest looking for other Altcoins that are in the early stages to get more profit.
Generally i was checking altcoins chart on coingecko for trading purpose and i found yearn finance founded by Andre Cronje! This token was able to hit $43k milestone from $31 within just two months from launch. It might be a simple thing in crypto world but i'm remembering it because of it drew attention when it hit $90,786.89 ATH on May 12, 2021 which is bigger than bitcoin price. I'm not comparing it with btc but this is the coin which cross bitcoin price lol.
What do you think about this altcoin? Will it be worth in upcoming years?
What do you think about this altcoin? Will it be worth in upcoming years?
I remember that moment. It was for some days at higher price than bitcoin at that time. Actually it was my friend who found out the price and I was making fun of him saying no coins are as valuable as bitcoin. And I was found wrong.
YFI is still over 30.5K and is going strong and has a fantom version as Ethereum is hard to work with. But I don't think it would rise similar to bitcoin as there's a lot of competition in DEFIs and investors seems to be focused on diversifying.
Generally i was checking altcoins chart on coingecko for trading purpose and i found yearn finance founded by Andre Cronje! This token was able to hit $43k milestone from $31 within just two months from launch. It might be a simple thing in crypto world but i'm remembering it because of it drew attention when it hit $90,786.89 ATH on May 12, 2021 which is bigger than bitcoin price. I'm not comparing it with btc but this is the coin which cross bitcoin price lol.
What do you think about this altcoin? Will it be worth in upcoming years?
I've remembered that coin and it has started the 'finance' saga. Well, just like the meme coins, it was on hyped before but right now. I don't think that it's a good investment for me.What do you think about this altcoin? Will it be worth in upcoming years?
If there's still a large demand for it, think before buying it, and if that's enough for you to believe in this project. Yeah, the price is high and we don't mind even it goes higher than bitcoin but this time, we don't know if it will still.
Not very much interested in the token but I remember this is one of the first Defi projects. I have learned nothing about them, however. The token was in the top 50 in early 2021, seem very odd to see only a few people are talking about the project and not many social media anymore for it. We're only reminded again of the project when it goes more than 80K.
It's once again in the bottom price, anyone is buying could get a good profit if this correct won't continue to bear market.
Price is matter but eveyrone can make low supply ex.100 and add liquidity on pancake and boom your token cmight supprass the bitcoin price
in fact before token exist there altcoin have high price
but YFI is still considering good token still on top 200 MCap and good development so you can give a shot
in fact before token exist there altcoin have high price
but YFI is still considering good token still on top 200 MCap and good development so you can give a shot
Generally i was checking altcoins chart on coingecko for trading purpose and i found yearn finance founded by Andre Cronje! This token was able to hit $43k milestone from $31 within just two months from launch. It might be a simple thing in crypto world but i'm remembering it because of it drew attention when it hit $90,786.89 ATH on May 12, 2021 which is bigger than bitcoin price. I'm not comparing it with btc but this is the coin which cross bitcoin price lol.
What do you think about this altcoin? Will it be worth in upcoming years?
What do you think about this altcoin? Will it be worth in upcoming years?
I can't remember if it hits that all time high price which is bigger not anyone else have seen in the market so far. But in any case, yeah, I still remember it, a lot of hype around it sometime ago, and scammers are cyber criminals used to target it and create a lot of fake and similar YFI finance sites and many has join the bandwagon.
But for me this is just a hype, so not sure if it will be worth in the future or not.
Generally i was checking altcoins chart on coingecko for trading purpose and i found yearn finance founded by Andre Cronje! This token was able to hit $43k milestone from $31 within just two months from launch. It might be a simple thing in crypto world but i'm remembering it because of it drew attention when it hit $90,786.89 ATH on May 12, 2021 which is bigger than bitcoin price. I'm not comparing it with btc but this is the coin which cross bitcoin price lol.
What do you think about this altcoin? Will it be worth in upcoming years?
Who knows it's supply is literaly so small so we can expect it to be more higher on btc if the demand is high. Andre Cronje legacy somehow still here and he keeps innovating since he is a great guy. Luckily those who grab this coin at an early stage cause the price still reasonable and for some reason Cronje is definitely got a lot of supports from technicals and degen hypes. So chances of getting it hike is not impossible. What do you think about this altcoin? Will it be worth in upcoming years?
What do you think about this altcoin? Will it be worth in upcoming years?
Yearn finance platform is still having very big TVL despite the fact so many new defi platforms already exist in the market but YFI as the first defi platforms are still become the favorites defi of all passive income hunters.
This will worth to buy but i doubt if the price will be so high again but nothing impossible for this token. The only problem is this defi was lack of innovation. The crypto trend is always moving forward so fast. YFI needs to do what another platforms did to follow the new trend in the cryptocurrency market. So far this token was promising to be used as long term investment and the price looks very stable at this moment too.
Jump to: