In the last few days the price of the Yearn Finance (YFI) token has literally exploded, marking a vertical rise that allowed the DeFi token to score a new all time high.
Also on the volume side there has been a rise, also thanks to the listing on the Binance exchange through which now many people have access to the token, since before it could only be recovered in certain pools.
If we check the various exchanges that have this token, we can see that not many of them have liquidity, unlike Binance.
From the supply data we can see that there are over 7500 holders and they are divided into 9372 in governance, 3800 are in Aave, 2600 are in Binance, while the rest are divided into various addresses and protocols like Balancer, Cream Finance and Uniswap.
yearn finane all hight time
We are talking about a token that was traded at just 32 dollars at the beginning of the Bitqt games and now has already exceeded 33 thousand dollars with a market capitalization that has exceeded one billion dollars: we are talking about an increase of 103125% in just one month.
The same BitMEX CEOD, Arthur Hayes, has hypothesized that it could soon reach 100 thousand dollars.
This shows how the decentralized finance (DeFi) is attracting great interest and probably still not even at its maximum since it could still cover several sectors and even in other blockchain.
Currently in fact a large part of DeFi applications are on Ethereum, but on this blockchain grows more and more the problem of gas that touches unsustainable levels every day, especially for small users.
Yearn Finance vs Bitcoin
As high as Yearn Finance’s price may be, which is 3 times higher than Bitcoin’s, this is not enough to unhinge BTC from the first position, since YFI has a limited supply, and in order to exceed Bitcoin’s capitalization, a price per token of over $7 million would be needed, which seems extremely unlikely, but if YFI continues to grow at this rate then it could really reach higher figures.