Remember yearn finance (YFI)??

[zasad@]

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.

[24Kt]

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.

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.

[zasad@]

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.

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.

I wrote it wrong, so I found the original source where Andre Cronje talks about the price of the token:
"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

[CryptopreneurBrainboss]

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.

[romero121]

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.

[V-t.Ester]

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.

[DapanasFruit]

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.

[SlimShadyMmp]

YFI isnt dead Is still going on and people are profiting from it I think whats going is there way too many alternative for making more profit that people have look elsewhere but whale do actually find it useful and somehow they do use it here and there and lets not forget andre cronje can bring another innovation out of the blue and people will definitely fly there in bunch again

[poodle63]

What do you think about this altcoin?

So far so good, so many people are still believing in this project. YFI is still become the best defi after aave and the price is very stable right now despite the bitcoin dump that affects the whole of market. I can't say a lot about where this coin will be going on right now as it depends on bitcoin.

Will it be worth in upcoming years?

It will be worth in the upcoming years. The adoption rate of crypto is growing a lot from time to the another time, you can expect this platform will have so many new users in the future. This will be growing even more and im not feeling doubt about that. So many people have not yet realized that defi was offering the best service to connect with decentralized finance system that offers better outcame rather than what already offered by traditional system called bank.

[Ngewex Yuk]

YFI was often trending on Twitter when the price could reach more than $82k last May, although the price dropped by more than 50% but I'm optimistic that YFI will shine again, this is because of the large transaction volume of more than $400 million.

[harizen]

DeFi seems not on the hype right now so we can't expect if any related project will have the same hype as before.

As far as investments are concerned, I can't really suggest putting money on it but the final decision will be yours. Maximized and enhanced your DYOR. Try lurking at each of their community group and try to check the pulse of the speculators there.

[Mehedi72]

I can remember this decentralized finance (DeFi) Yearn Finance. this governance token also attracted me that time but i didn’t join it after seeing such price. It thought YFI as another hype token on that time. now it dump as usually by following btc rally but still on the way for gaining new level where other coin already come with better concept. according to my analysis, its possible for yfi, not to be worth, but it can continue its existance somehow.

[Xal0lex]

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?

Yeah, I remember that token. Followed it for a while because it got more expensive than bitcoin itself and was on a high. Everything Andre Cronje releases has always grown quickly, but the YFI token stands out in particular. As I recall, this was in the DeFi hype wave of 2020, when there was a boom in such tokens. The 2021 bullrun saw this token upgrade its ATH, but not for long and also dropped in value quickly. It feels like this token is being used for speculation and its real price is much lower.

But now Andre Cronje has left the industry and the token continues to lose value. I don't think he will ever reach his ATH at the $83,000 mark.

[LUCKMCFLY]

The truth is that I saw when it was at a much higher price than BTC at one point, but I still didn't understand why this currency was so high, in fact it is still very high, these are the type of projects that I would like to enter, but how to do it? What criteria to take would be the ones indicated to see this type of coins.
At the moment the coin is still above $20k, I think they have very good support because despite the fact that BTC has dropped in price, this coin has remained at a good price.

[zasad@]

https://thedefiant.io/yearn-overhauls-yfi-tokenomics
Yearn Overhauls YFI Tokenomics
"OG Yield Aggregator Introduces Locking Mechanism, Will Use YFI Accumulated Via Buybacks To Fund New Rewards Program
Yearn Finance, DeFi’s oldest yield aggregator, has revamped its tokenomics to embrace a Vote Escrow mechanism.

YFI stakers can convert their assets into non-transferable veYFI tokens by locking up their funds for between one week and ten years. Stakers receive dYFI tokens and voting power in exchange, allowing them to vote on which pools will receive the largest allocation of dYFI rewards."

[goaldigger]

YFI was often trending on Twitter when the price could reach more than $82k last May, although the price dropped by more than 50% but I'm optimistic that YFI will shine again, this is because of the large transaction volume of more than $400 million.

The fact that they pumped that much before, I’m sure it can happen again in an instant.
There’s so much manipulation with this project, the risk are high too but if you are optimistic about this project and have some holdings, then maybe its worth to hold until the next bull run. The market is rising again, and its a good time to look back at the projects that we are dealing before because they might also start to pump, its time to revisit our holdings again.

[Hispo]

I recall when this token started to appear in crypto news because of how it's price was bigger than Bitcoin's and how the demand for this project was a clear signal of the future of Defi.
However, I must say I am not particulary interested in this token, because I am not into Decentralized finances and not within that specific Blockchain.

Also, it is worth mentioning that if you check out the comments people leave within the feedback section of Coinmarketcap for this token, one will find comments suggesting that the developers of this token have ceased development and it has become an abandoned project (which continues to function).
I am not sure how true those comments were or whether it was just a cheap attempt of FUD, though. Always do your own research when comes to buying altcoins and tokens.

[CoinFoxs]

YFI was often trending on Twitter when the price could reach more than $82k last May, although the price dropped by more than 50% but I'm optimistic that YFI will shine again, this is because of the large transaction volume of more than $400 million.

The fact that they pumped that much before, I’m sure it can happen again in an instant.
There’s so much manipulation with this project, the risk are high too but if you are optimistic about this project and have some holdings, then maybe its worth to hold until the next bull run. The market is rising again, and its a good time to look back at the projects that we are dealing before because they might also start to pump, its time to revisit our holdings again.

YFI is highly risky coin as there is fluctuations in its price after every 2-5 minutes. We have seen that yearn finance crossed bitcoin in price. And for now I would never suggest anyone to buy yfi because there are high chances of loss associated to it.

[VFalcon]

 If you don't know where to invest, I suggest you try to participate in Fairspin tournament, play their games or bet on TFS - it's a great chance to win extra money. Invest the money you win in any coin you are afraid to invest your own money in

[DapanasFruit]

Yes, of course, I do remember Yearn Finance for its very impressive run many monsoons ago...when it even reached higher than the price of Bitcoin but right now the ongoing price is on the $5K level so there is a big gap between the present and the past. Would it be a good addition to one's portfolio...or better yet does it have a strong potential to also carry its torch in 20224 in case there can be a bull run? I am not so sure about that as the hypes and excitement must have left YFI a long time ago though I am not wishing any ill towards this platform as I don't want its coin holders to get hurt in case it can slip further in value.