“Completely valueless” the governance token YFI token has boomed!

[Whited35 15285]

Are you wondering to see the current DeFi craze? It's been a few days now, I have been tracking the governance token for yearn.finance (YFI). According to DeFi Pulse, the yearn.finance is the sixth-largest DeFi protocol. Three days ago, there was a massive upsurge in the price of YFI as it raised by 53% overnight, but at the time of writing its price is $10,673, how crazy😂!

 

Previously,  its team has declared, “We reiterate, it has 0 financial value.” You might check their blog report here.
Clearly, it is now the second most expensive cryptocurrency. Can it surpass BTC soon to be the most expensive cryptocurrency soon?

 

References:-

• https://coinmarketcap.com/currencies/yearn-finance/
• https://decrypt.co/38916/completely-valueless-yfi-token-rises-by-53-overnight
   

[rekter 8129]

With a 30k total supply of coins i am pretty sure that one "full" coin is going to be pretty damn expensive. 300M marketcap is a lot but there's much room to grow when even Arthur tweets about it: 

 

[Raqeebzy 6456]

Oh YFI. I have seen and read about it. Around this month, I think it surpasses BTC or almost the same price of about $11'300 or so. It is fun while it lasts; don't be surprised if this coin becomes more expensive than BTC in few weeks/months. Yes, it will be crazier.

[MuhammadSh 3067]

YFI.. as many experts said, the team of the developers of this cryptocurrency just want to take attention and attract people to buy it.. The Defi system is surprising us a lot during this year! and maybe there would be more surprises in the near future! but i am wondering if is it really deserve all this media hype or not!? let's wait and see.. also i am wondering why this cryptocurrencies trying to compete with bitcoin in its price.. 

[Whited35 15285]

11 hours ago, rekter said:

With a 30k total supply of coins i am pretty sure that one "full" coin is going to be pretty damn expensive. 300M marketcap is a lot but there's much room to grow when even Arthur tweets about it: 

@rekterClose enough😂. I think it will surpass BTC today. Current price of each YFI is $11,593.51 USD and BTC price is $11727.10.The yearn.finance has $585.3 million locked in its smart contracts.Due to increasing DeFi craze, I think another massive spike is on the way for YFI token ! 

[rekter 8129]

On 8/20/2020 at 9:50 AM, BTC Future said:

What I don't understand is why they care about price surpassing BTC. It has low supply and caught the interest of DeFi morons so it pumped and while price is close to BTC it doesn't mean a thing. There are a couple of coins having limited supply and pumped above Bitcoin's price in the past.

I saw an official tweet from someone like CZ, Binance or someone tweeted that it's most "expensive coin now" or something like that. Really misleading advertising imho. Can't find it now, but newcomers are going to be so lost on this season.

[Whited35 15285]

On 8/20/2020 at 12:59 AM, Raqeebzy said:

Oh YFI. I have seen and read about it. Around this month, I think it surpasses BTC or almost the same price of about $11'300 or so. It is fun while it lasts; don't be surprised if this coin becomes more expensive than BTC in few weeks/months. Yes, it will be crazier.

This overrated DeFi craze is still looking like to last for a long time. You can noticing, a huge amount are wrap up on the DeFi protocols and investors are still loving to invest in DeFi products. This is just a impact of that. 

[Raqeebzy 6456]

4 minutes ago, Whited35 said:

This overrated DeFi craze is still looking like to last for a long time. You can noticing, a huge amount are wrap up on the DeFi protocols and investors are still loving to invest in DeFi products. This is just a impact of that. 

Just yesterday, YFI went more than 20% higher than BTC and it is currently around $13'100; guess I I was wrong yesterday estimating weeks/months before surpassing BTC, proving me wrong in less than 24hour. I think it is better to invest in DeFi protocol for now perhaps for a quick short term profits. I am thinking about it.

[Whited35 15285]

18 minutes ago, Raqeebzy said:

I think it is better to invest in DeFi protocol for now perhaps for a quick short term profits. I am thinking about it.

I have already started to follow MakerDao and still trying to explore more DeFi protocols to detect the best.MakerDao is looking amazing. You might check here https://docs.makerdao.com/ for the more details. Thanks. 

[Raqeebzy 6456]

10 minutes ago, Whited35 said:

I have already started to follow MakerDao and still trying to explore more DeFi protocols to detect the best.MakerDao is looking amazing. You might check here https://docs.makerdao.com/ for the more details. Thanks. 

Oh, thanks. I will check later on. I also have a couple of others in mind, won't mind adding this to the growing lists. At the end, two is enough.

Away from that, I will like you to help with something within the forum, I would rather say it in your DM sir if you don't mind. Please forgive me for diverting a little.

[Whited35 15285]

19 minutes ago, Raqeebzy said:

Away from that, I will like you to help with something within the forum, I would rather say it in your DM sir if you don't mind. Please forgive me for diverting a little.

Please be advised, I will never mind for being asked meaningful questions. I am always ready to give my best to resolve your cases and at the same time, I also get the chances to get knowledge back from you 😊

[Whited35 15285]

41 minutes ago, BTC Future said:

I've exited all altcoin positions and the reason is this euphoria and stupidity.

For a long-term hold, I will never advice an investment in altcoin. I have invested in some altcoin just for a short-term purpose. Top ranked altcoins can be the best option for an active day tradings to make good profits which can be later converted into BTC. Just like YFI, another OMG DeFi token is booming in the crypto market now, so many scammers are playing the games behind the scene 😂?

[mis3rably 57]

I have seen and studied approximately it. Around this month, I think it outperforms BTC or nearly the same cost of almost $11'300 or so. It is fun whereas it keeps going; do not be shocked in case this coin gets to be more costly than BTC in few weeks/months. Yes, it'll be crazier.

[alfonsoriver57 17]

The YFI token is defi very surprised because it surpassed BTC in value in a short time but I think it is a token that like many will benefit, many will also get lost

[Daramola Abiodun T 60]

The crazy move up initially is also being witnessed by crazy move down now. Yfi alone went down more than 40% of its ATH within the past few days. What a bad market for yearn finance coin lovers. When I saw the sudden move up, I was wondering could there be any coin that will overtake btc.

[elimdavid 66]

I was shocked after reading this; the crypto world never stops surprising; thanks to all the content generators of this platform; I will investigate about this magnificent project.

[Whited35 15285]

5 hours ago, vctragbor1 said:

At the momemnet, I persoanlly think DeFi is highly overrated  and this has last for a long time now. everyone has notice this. A very huge amount are wrap up on the DeFi protocols and any investors are still loving to invest in DeFi products. I don't really know how long this will last.

 

@vctragbor1 Maybe it lasts for some instant. Investors are getting a huge benefits by putting their currencies in the smart contracts. More than 8 billion USD equivalent currencies are locked in the smart contracts of the DeFi protocols which is not a small number.