Yearn.Finance (YFI) hits $28k

[LangePara]

Since it's still yearn farming era, I'm not wondering if it hits 50k, I remember when it was POS time and a lot of coins came but then DPOS came, it seems like fashion, each year something is the fashion in cryptocurrency !

People move with trends, it's something you've to look out for. You can make alot of $ but also lose alot of $. But hey that's trading, and it's super fun. Last night, a lot of people got liquidated too.

Edit: I am personally gonna wait year finance to drop and will buy. My range is around $25k. With multiple stop losses set, just in case. But I think imma ride this train out, it's holding good atm.

[cryptothreads]

I still don't understand lol what's driving the price of YFI. Just when I think that YFI has reached its peak I see YFI is pumping again. Does anyone have any idea why YFI pumped so much? I know supply is low but that can't be the only reason for the pump, right?

YFL is in very low supply and is attracting a lot of whales to buy this coin.

I have checked the project and don't really have any information so there is still a risk when you buy at this price. In my opinion, projects like these should be avoided because if the market drops suddenly YFL will be able to get back to $100 at any time so think and be careful.

[livingfree]

I still don't understand lol what's driving the price of YFI. Just when I think that YFI has reached its peak I see YFI is pumping again. Does anyone have any idea why YFI pumped so much? I know supply is low but that can't be the only reason for the pump, right?

Yes, it's not the only reason why it pumps.

The FOMO for Defi's are real and it's part of the choice of many investors. But to understand about it, visit their website and see the services that it's offering and being copied by other defi that are also trying to get into the hype with YFI.

https://yearn.finance/

[Bitbuffalo]

I still don't understand lol what's driving the price of YFI. Just when I think that YFI has reached its peak I see YFI is pumping again. Does anyone have any idea why YFI pumped so much? I know supply is low but that can't be the only reason for the pump, right?

Yes, it's not the only reason why it pumps.

The FOMO for Defi's are real and it's part of the choice of many investors. But to understand about it, visit their website and see the services that it's offering and being copied by other defi that are also trying to get into the hype with YFI.

https://yearn.finance/

Yearn is amazing that is why they are doing well. Most forks are shit but I found an interesting idea that forked yearn as the base for a blockchain agnostic lending aggregator, go to fiscus.fyi. We need more of this, not shit forks not improving anything.

[Mpamaegbu]

YFL is in very low supply and is attracting a lot of whales to buy this coin.

That's simply the catch. A lot of people buy into projects with far less supply, even yours truly I am looking for such low supply coins/tokens. And to even think YFI once went as low as less than $40 less than three months ago will make anyone want to hit their head on the ground. Its a great miss. However, I wouldn't advise anyone to buy YFI as it stands now in price. I would rather suggest that those wanting to buy YFI should look for other DeFi projects and buy cheap. For me, I won't do any DeFi coin higher than $2 in price if the total supply is above two million units.

[tsaroz]

I was not aware of the YFI token and my co-staff called me with excitement saying "do you know there's a cryptocoin that's even the father of bitcoin?" and I said I don't think so as bitcoin was the oldest usable cryptocoin in mind. Than he said the coin is higher in price than bitcoin. I not being aware of it called it to be some kind of pump and dump coin or a scam but he let me know that it's also been listed on Binance and Okex. It's a coin with low 30K supply and with the Defi craze, it went breaking every records.

[livingfree]

I still don't understand lol what's driving the price of YFI. Just when I think that YFI has reached its peak I see YFI is pumping again. Does anyone have any idea why YFI pumped so much? I know supply is low but that can't be the only reason for the pump, right?

Yes, it's not the only reason why it pumps.

The FOMO for Defi's are real and it's part of the choice of many investors. But to understand about it, visit their website and see the services that it's offering and being copied by other defi that are also trying to get into the hype with YFI.

https://yearn.finance/

Yearn is amazing that is why they are doing well. Most forks are shit but I found an interesting idea that forked yearn as the base for a blockchain agnostic lending aggregator, go to fiscus.fyi. We need more of this, not shit forks not improving anything.

We're all done with forks.

This is the new fork that the investors are liking. The forking of projects or the imitation of decentralized finance projects which are being liked by most.

I haven't invested on it and look to the website you've suggested, I might get into it sometime.

[joinfree]

Well funny enough I saw this damn coin at $15K and I bought som fractions of it which now has made mesom decent pofits when it touched $35K, Bitcoin has ruined the whole market with this massive dump. Actually this was foretold but I did not think this dump will come soon. Some folks are saying that Trump will not let the market crash just as the US elections are just at the corner. So lets hope the market rises back again.

[rz20]

I still don't understand lol what's driving the price of YFI. Just when I think that YFI has reached its peak I see YFI is pumping again. Does anyone have any idea why YFI pumped so much? I know supply is low but that can't be the only reason for the pump, right?

Yes, it's not the only reason why it pumps.

The FOMO for Defi's are real and it's part of the choice of many investors. But to understand about it, visit their website and see the services that it's offering and being copied by other defi that are also trying to get into the hype with YFI.

https://yearn.finance/

Yearn is amazing that is why they are doing well. Most forks are shit but I found an interesting idea that forked yearn as the base for a blockchain agnostic lending aggregator, go to fiscus.fyi. We need more of this, not shit forks not improving anything.

We're all done with forks.

This is the new fork that the investors are liking. The forking of projects or the imitation of decentralized finance projects which are being liked by most.

I haven't invested on it and look to the website you've suggested, I might get into it sometime.

Every few days I see new forks pop-ups on uniswap all starting YF* and some of them even trading at above $100 I think once the bubble for this type of forks burst it will hurt a lot of investors especially the newbies.

[Romanianz]

Until now, if I don't have the answer, what really happened to YFI, why did it beat the price of the king of crypto (BITCOIN), is their token more useful than bitcoin or is this just hype In the history that I know, only this time the coin price can reach $28k

Yes, it's only short time hype, don't get FOMO, until now I just watch and keep tracking this altcoin.

[livingfree]

We're all done with forks.

This is the new fork that the investors are liking. The forking of projects or the imitation of decentralized finance projects which are being liked by most.

I haven't invested on it and look to the website you've suggested, I might get into it sometime.

Every few days I see new forks pop-ups on uniswap all starting YF* and some of them even trading at above $100 I think once the bubble for this type of forks burst it will hurt a lot of investors especially the newbies.

Those who have dedicated on those projects, they will be the ones that will be mostly hurt.

They haven't seen it before and that's the reason why they keep on popping. The bubble and hype for these defi or YF version of projects will not last forever because it's not sustainable if most of them are existing at the same time.

There could be one as the main YF but not all of them will stay.

[shoreno]

Until now, if I don't have the answer, what really happened to YFI, why did it beat the price of the king of crypto (BITCOIN), is their token more useful than bitcoin or is this just hype In the history that I know, only this time the coin price can reach $28k

Yes, it's only short time hype, don't get FOMO, until now I just watch and keep tracking this altcoin.

its funny that people continues to follow the coin even if they already know that these kind of coins are just a bubble .

getting curious on this coin can only make you obsess or worst make you tempted to invest in especially if you saw that its price still continues to increase . leave the job to the greedy guyz . they will still give updates here once the coin burst  .

[Killrbit]

What's going on with this coin? It's getting pumped crazy af right now.



https://coinmarketcap.com/currencies/yearn-finance/

Edit: It's 32k right now lol.

Edit2: All of the market is seeing a small correction, and so its YFI, however it still holds 'strong' at $30k.

Id suggest you be careful before putting any money in. The Defi coins while as concept seems brilliant to many of them today seem to operate like a ponzi, i am not saying YFI or some other DEFI coins is a ponzi there are definitely some hidden gems but that one shouldn't just get carried away with the hype or the huge gains you see on the chart.

Remember crypto history is riddled with coins that pump 1000% in a matter of days only to see them drop 99.9% a few days later.

Remember the Case of Z classic that went from 280 to a buck a year or so ago or the more recent Defi coin Hotdog.

Also if any one can help me with why so many Defi coins are named after food( pasta, spaghetti, sandwich, Sushi and so on)  and how exactly am i suppose to look at something called Spaghetti coin seriously and not immediately think its a scam.
They might as well call themselves "This is not a Scam Coin"

[delfastTions]

DeFi's yearn.finance Is Coming to Coinbase Pro

YFI, the governance token that powers yield aggregator platform yearn.finance, will be listed on Coinbase Pro on September 14, the Californian crypto exchange announced today

[finaleshot2016]

Just finished writing a post on someone else's thread about it:

They were smart enough to set their supply to way fewer coins than most cryptos, and that attracted a lot of attention from everyone. If you were to multiply the 30k supply by 700 times (to get to BTC's max supply) and then divide the current price (~$29k) by 700, at Bitcoin's supply it'd be worth $41.5 right now. It's a very very vague calculus but I'm only considering the supply & price/coin.

In other words, it may be more expensive than Bitcoin but do people really not care about anything else besides price at this point?

As you are a Newbie, I would highly recommend you not to jump straight into the pumped coins if you're contemplating to. YFI may be $100k in a week or .. $1k. Volatility is a thing. You just don't know, and the timing is imo very risky right now. It's been a long time already since it's been very bullish. Coins that have really hard pumps usually have a period where the hype bursts out, and the price almost always follows. Therefore, just be careful when investing and make sure you don't get yourself screwed up by false hopes.

Nice explanation into this, it makes sense that we, investors/traders of bitcoins shouldn't worry about the altcoin's pump of price because it has only limited supply. Everything can change in a moment since this defi trend is definitely a bubble that will last for a short period of time and only a few people will get multiple profits if they play wisely.

I keep refreshing and YFI is growing, very unusual in my whole life of cryptocurrency. I hope this not give false hopes to those who get attracted when they see the value.

as of this moment, it is $33,181.44 already.

[djmixen]

What's going on with this coin? It's getting pumped crazy af right now.



https://coinmarketcap.com/currencies/yearn-finance/

Edit: It's 32k right now lol.

Edit2: All of the market is seeing a small correction, and so its YFI, however it still holds 'strong' at $30k.

If that's what happened now, don't just get easier to invest in any of the coins that are presently pumped in the exchange, because it might be
a trap to any investors who will invest in it in the end, though I am not praying to lose their assets but just giving a few reminders in this field of industry.

[lixer]

People will be buying it as the price is going up, but once the hype is down and there is a decrease they will start selling. I don’t know much about this coin, but if you have a good knowledge about it and you think there is still chance for it to go up the more, then you can still give it a try.

Everything we do here is mostly about taking risk, if you see a coin or token and you think it will increase, then you should give it a try and see whether it works for you. If it at the end it doesn’t work out, you wouldn’t have to worry if you didn’t invest too much in it, you just keep going and looking for better projects.

[Ozero]

Just finished writing a post on someone else's thread about it:

They were smart enough to set their supply to way fewer coins than most cryptos, and that attracted a lot of attention from everyone. If you were to multiply the 30k supply by 700 times (to get to BTC's max supply) and then divide the current price (~$29k) by 700, at Bitcoin's supply it'd be worth $41.5 right now. It's a very very vague calculus but I'm only considering the supply & price/coin.

In other words, it may be more expensive than Bitcoin but do people really not care about anything else besides price at this point?

As you are a Newbie, I would highly recommend you not to jump straight into the pumped coins if you're contemplating to. YFI may be $100k in a week or .. $1k. Volatility is a thing. You just don't know, and the timing is imo very risky right now. It's been a long time already since it's been very bullish. Coins that have really hard pumps usually have a period where the hype bursts out, and the price almost always follows. Therefore, just be careful when investing and make sure you don't get yourself screwed up by false hopes.

Nice explanation into this, it makes sense that we, investors/traders of bitcoins shouldn't worry about the altcoin's pump of price because it has only limited supply. Everything can change in a moment since this defi trend is definitely a bubble that will last for a short period of time and only a few people will get multiple profits if they play wisely.

I keep refreshing and YFI is growing, very unusual in my whole life of cryptocurrency. I hope this not give false hopes to those who get attracted when they see the value.

as of this moment, it is $33,181.44 already.

Despite the fact that the YFI token as a whole has risen slightly in price to $ 34,429 and has even moved to 23rd position in the CoinMarketCap table, its price drop is more than 14 percent. Of course, this still means little, however, such a high price and such a small volume of tokens issued lead to sad assumptions about an artificially inflated price. I wouldn't be surprised if after a while the price of YFI turns out to be much lower than the price of Bitcoin.

[Gvent]

the price of this coin is expected to decline
moreover
this will occur in proportion to the decrease in profitability from yield farming  on this platform.

[Kopiev]

academy binance posted a detailed article on Yearn finance, revealing the topic of what YFI is, what are its features and advantages over others

https://academy.binance.com/en/articles/what-is-yearn-finance-yfi?ref=JLI1VBLA&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial