YFI, the Yearn.Finance Decentralized Funding Protocol (DeFi) governance token, now stands at $ 24,580, a 40% increase in the last 24 hours alone.
The coin is now worth much more than the BTC maximum limit of $ 20,089 set on December 17, 2017.
YFI launched on July 18 of this year and has jumped 71,084% in just over a month, according to CoinGecko. Crypto analyst Josh Rager says the coin is just beginning.
I was stupid to sell two of the three $ YFI I had under $ 5000
But I kept one…. in case he’s really on his way for $ 100,000
And boy I’m glad I did
on the way to $ 30,000 pic.twitter.com/nsDm3cnu9S
– Josh Rager 📈 (@Josh_Rager) August 29, 2020
The platform offers a number of functions to DeFi investors, allowing them to move assets between different liquidity pools and identify the best returns.
It has an extremely low supply cap of just 29,962 coins, compared to Bitcoin’s current circulating supply of just over 18.4 million.
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