In the last 24 hours, YFI gained nearly 40% to trade at its recent price of $26,388, flipping Bitcoin’s all-time highs of $20k by setting new highs of 27,241 today.Ī crypto startup investor Ian Lee sees YFI exceeding Bitcoin as arbitrary and psychological. YFI has a circulating supply 29,963 prompting some DeFi investors to enunciate a potential for growth as its supply has been nearly fully minted. At its highs, the YFI market cap stands at $478 million to rank 29th largest by market valuation.
Its supply is capped at 30,000, which is significantly lower than most crypto assets. From then on, YFI became one of the hottest crypto assets in the DeFi space.Ĭrypto researcher Hasu spoke of Yearn.finance as a platform that allows users to execute different low-risk investment strategies referring to it as a smart bank account.Ĭompared to other tokens, the price of YFI is high due to its unique monetary supply. YFI was noted to trade around the $1000 mark at its inception, but within a month saw a 10 times increase in its price. YFI Price grew naturally as the total value locked in Yearn.finance surged.
Premine is a condition of some new cryptocurrencies, where the max supply has already been created before being made publicly available.
It is the first protocol on Ethereum that claims to give token holders all the power to govern the network. Yearn.finance is a DeFi protocol launched in July with no Premine in a decentralized setting by developer Andre Cronje.