Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Best Bitcoin Casinos
    • New Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Best Bitcoin Casinos
    • New Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
No Result
View All Result
CoinTrust
No Result
View All Result

Home » DeFi Project Yearn.finance Heading for $50,000

DeFi Project Yearn.finance Heading for $50,000

Kelly Cromley by Kelly Cromley
Sep 15, 2020
in Bitcoin News, Market News, News
Reading Time: 3 mins read
0

Earlier this week, native crypto of DeFi venture Yearn.finance, YFI, hit a record high of $43,966 on Binance exchange. This happened as the crypto market was facing a sell off, with Bitcoin’s (BTC) value eroding by 17.5% to reach a low of $9,800 on some cryptocurrency exchanges.

As Bitcoin’s price rebounded, YFI’s price rose, with the project appreciating by more than 100% since September 9. Many analysts trust that the token will rally to reach $50,000 level soon. The combination of robust technical, fresh product offerings, yield farming and the rising popularity of DeFi liquidity pools act as a catalyst to YFI’s sharp increase.

RelatedPosts

Nigeria Charts Blockchain Future With Inclusive National Policy

Brave Introduces .brave Domains to Advance Web3 Browsing

Cardano and LW3 Pioneer Blockchain Passports for Products

TRON Blockchain Surpasses $75B USDT Mark, Cements Stablecoin Dominance

Before the rally started, YFI token price was comparatively stable at over $20,000, which is slightly above major support level of $19,500. After a long-duration of consolidation, YFI began surging sharply. Yearn.finance has also rolled out new products and StableCredit USD is one among them. Lisa JY Tan, an academic at Economics Design, detailed that StableCredit USD is a unique collateral product that utilizes Aave. Tan stated:

2) Using @AaveAave‘s lending protocol so you can borrow up to 75% of the collaterals you provided (see 1 above)

— Lisa JY Tan (@lisajytan) September 12, 2020


Current product offerings of Yearn.finance, yVaults and Yinsure.finance, in addition to fresh product rollouts are believed to be the reason behind the bullishness around YFI. Many technical analysts have highlighted the bullish nature of the DeFi token soon after it crossed $34,650 level.

Before the rally took the price above $40,000, a trader, nicknamed “Benjamin Blunts” stated that YFI will probably hit new peaks of around $50,000. The trader stated:

$YFI closing the daily above $34650 is very significant imo, 47 mins to go but if we do i think we’re going to all time highs again and 50k next.

i wanted a bigger dip to add but at this stage i do not think im going to get it pic.twitter.com/cGNCYwQanX

— ??Farmer Bluntz?? (@SmartContracter) September 11, 2020


Michael van de Poppe, a professional trader at the Amsterdam Stock Exchange, also stated that YFI could likely hit the level of $75,000. Likewise, before the rally took the price of YFI to $43,966, Van de Poppe had mentioned $50,000 as the resistance level. If YFI breaks above that level firmly, then traders expect YFI to reach the $75,000 level. At that price level, Yearn.finance would command a value of about $2 billion. Van de Poppe said:

$YFI

Determination of potential target zones on $YFI.

Trending and hyped coins are doing really well.

Like always, they bounce back the strongest.

Target of $75,000 possible? pic.twitter.com/jaZOvZJAtz

— Crypto Michaël (@CryptoMichNL) September 12, 2020


Four days before, Coinbase revealed that it would list YFI on Coinbase Pro, facilitating users to trade YFI on September 14 and thereafter. The exchange explained the covenant as follows:

“Yearn.finance (YFI) is a decentralized finance (DeFi) platform which aims to perform a host of functions such as aggregated liquidity and automated marketing making by moving providers’ funds between platforms such as dYdX, Aave, and Compound.”

Soon after the listing, YFI token’s price increased by 20% and reached the $40,000 level without much of a delay. Assets that get listed on Coinbase usually undergoes a pump and dump scenario. Crypto enthusiasts are closely monitoring to see whether it will be the case with Yearn.finance as well.

Previous Post

Fulcrum DeFi Loses $8mln Worth Tokens in Latest Hacking Incident

Next Post

BNP Paribas Employs DAML Smart Contracts to Link with Top Stock Exchanges

Related Posts

nigeria charts blockchain future with inclusive national policy

Nigeria Charts Blockchain Future With Inclusive National Policy

by Kelly Cromley
May 21, 2025
0

The Federal Ministry of Communications, Innovation and Digital Economy has officially released a Whitepaper outlining Nigeria’s National Blockchain Policy, marking...

brave introduces .brave domains to advance web3 browsing

Brave Introduces .brave Domains to Advance Web3 Browsing

by Kelly Cromley
May 21, 2025
0

In a move that underscores its commitment to privacy and decentralized web technology, Brave Browser has unveiled a blockchain-native domain...

cardano and lw3 pioneer blockchain passports for products

Cardano and LW3 Pioneer Blockchain Passports for Products

by Kelly Cromley
May 21, 2025
0

The Cardano Foundation has unveiled a strategic partnership through its Cardano Venture Hub, joining forces with Web3 company LW3 to...

tron blockchain surpasses $75b usdt mark, cements stablecoin dominance

TRON Blockchain Surpasses $75B USDT Mark, Cements Stablecoin Dominance

by Kelly Cromley
May 21, 2025
0

TRON DAO has achieved a significant benchmark in the global stablecoin market by announcing that the circulating supply of Tether...

bsv association taps binarii labs for secure blockchain communications

BSV Association Taps Binarii Labs for Secure Blockchain Communications

by Kelly Cromley
May 21, 2025
0

The BSV Association, recognized for leading global advancements in the BSV Blockchain, has announced its decision to appoint Binarii Labs...

magic square and funtico unite to boost web3 gaming

Magic Square and Funtico Unite to Boost Web3 Gaming

by Kelly Cromley
May 21, 2025
0

Magic Square has revealed a strategic partnership with Funtico, a rapidly growing player in the blockchain gaming space. This collaboration...

Next Post
BNP Paribas Employs DAML Smart Contracts to Link with Top Stock Exchanges

BNP Paribas Employs DAML Smart Contracts to Link with Top Stock Exchanges

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

nigeria charts blockchain future with inclusive national policy
Market News

Nigeria Charts Blockchain Future With Inclusive National Policy

by Kelly Cromley
May 21, 2025
brave introduces .brave domains to advance web3 browsing
Market News

Brave Introduces .brave Domains to Advance Web3 Browsing

by Kelly Cromley
May 21, 2025
cardano and lw3 pioneer blockchain passports for products
Market News

Cardano and LW3 Pioneer Blockchain Passports for Products

by Kelly Cromley
May 21, 2025
tron blockchain surpasses $75b usdt mark, cements stablecoin dominance
Market News

TRON Blockchain Surpasses $75B USDT Mark, Cements Stablecoin Dominance

by Kelly Cromley
May 21, 2025
bsv association taps binarii labs for secure blockchain communications
Market News

BSV Association Taps Binarii Labs for Secure Blockchain Communications

by Kelly Cromley
May 21, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Best Bitcoin Casinos
    • New Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree