Yearn Finance(YFI) is considered the most disruptive DeFi token in the crypto space. It is currently the most expensive crypto which has the ability to pump and dump more than $5000 within 24 hrs.
Many analysts also believe that 1 YFI price may equal to 2 Bitcoin very soon in coming days. So why the analysts and the crypto community is bullish on YFI price?
Will YFI price really hit $100k as predicted by many? If yes, what might be the reasons behind the prediction? Let’s Dig it out!
YFI’s Strong Fundamentals
The YFI price rallied high more than 500-700 percent in just a month of inception and reached its all-time high at $41,000 with the blink of the eyes. On the contrary, the YFI creator Andre Cronje and the developers behind this project believe the token has no intrinsic value. Rather it was created as a ‘governance token’ to offer voting rights to the holders.
Moreover, unlike the Ripple Foundation, which has stacked nearly 50 billion XRP in its escrow, yearn finance does not possess any YFI token as all the tokens are already being distributed. Additionally, the limited supply of only 30,000 tokens helps to fight inflation and rally high.
YFI Project Expansion is Unstoppable
YFI’s series of collaborations with various projects appears to be a big challenge for the DeFi’s decentralization, as the project is on the verge to be the Bitcoin of the Crypto space. As many believe still more mergers are yet to happen.
The series of collaborations with Pickle’s yield farming, lending and borrowing platform Cream, permissionless protocol Cover, a business development expertise Akropolis, and the recent collaboration with Sushiswap has led the crypto space on fire.
Therefore with the expansion, the market capitalization of YFI is expected to touch the skies, rallying the price to the next levels.
Analysts Strong Prediction on YFI Price
The entire crypto community is pretty bullish with the YFI price. Many feel the price may rally to touch great highs in coming days. One of the analyst Altcoin Sherpa has said that the YFI price currently is building a base to push towards mid $30K.
Moreover, YFI’s recent second version launch with improved features like new and multiple strategies, simple and highest security quality code, risk management, etc the YFI price is expected to hit an all-time high in the coming days.
Collectively, the YFI price is expected to fly high and hit a new all-time high which may rally above $50K in the coming days.