Bitcoin price broke a record by exceeding $20,000 in 2017. Since then, no cryptocurrency has come close to this price. Until a few weeks ago… The price of the YFI token, which crushed bitcoin, is now very close to $40,000.
Crypto space is witnessing something that has never been seen before. The YFI token, which has surpassed the price of bitcoin a few weeks ago and became the most expensive token, is about to see $40,000 as August ends. The coin has gained 27 percent in the last 24 hours and is trading at $38,302.
Everything changed in the last 15 days
On August 15, the price of one YFI token was $4,516. Nobody thought that this token could surpass bitcoin in those days. But YFI did not stop and managed to destroy $15,000 in 5 days. And in the next 12 days, the price came very close to exceeding $40,000.
The market volume of the cryptocurrency is also seeing phenomenal growth. According to data from crypto metric sites, YFI token has managed to grow 166 percent in just the last seven days, with a market volume of over $1,15 billion No cryptocurrency has been rising so rapidly in history. That’s why everyone in the crypto space is so excited about this.
DeFi craze continues
The decentralized finance craze is getting bigger and bigger. YFI token also gets its share from the industry, which is announced to have reached 400,000 active users. In addition to YFI, another rising star of the last days is SUSHI token.
With a total locked value of over $700 million, the SUSHI token faced high interest from investors looking to take advantage of the DeFi craze. However, it’s important to remember that experts have doubts about SUSHI. Brendan Forster, co-founder of the Labs loan protocol, claims that the SUSHI project was simply a protocol created to monetize the project team. Still, Uniswap’s more than $698 million liquidity comes from people who earn SUSHI tokens. This shows that investors do not pay much attention to expert opinion.
YFI price prediction by Arthur Hayes
Now reaching almost 4 BTC, YFI price continues its unstoppable growth. Expressing his views on the subject, BitMEX CEO Arthur Hayes claimed that the price could hike to $300,000.
In theory, it is not impossible for YFI to see these prices, which is an extremely rare token with a supply of 30,000 units. However, investors need to be very careful. Many analysts and investors feel that DeFi has too many similarities to the ICO bubble. YFI can be the biggest member of this bubble and cause you to lose all your money. Of course, we should state once again that this is not our opinion and does not constitute any investment advice. Every trader should insist on making their own decisions.
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