On Tuesday, most TOP-10 cryptocurrencies on CoinMarketCap market capitalization rating continued positive movement. At the same time, the leader of the rally was the yEarn Finance (YFI) project with growth above $ 12,800.
The value of the yEarn Finance (YFI) token has surpassed Bitcoin crypto at the moment, reaching $ 12,821. One of the Twitter users drew attention to this in his post, and it was actually confirmed on crypto market analytic platform, CoinGecko.
Note that the value of YFI crypto asset has increased by more than 25% over the past 24 hours. At the same time, the leading cryptocurrency Bitcoin is trading at $12,240 with a growth of 3%.
The phenomenal success of yEarn Finance DeFi platform demonstrates that the global community will be ready to accept digital assets as a financial instrument soon. Over the 10 years of the formation and development of the crypto industry, people have accumulated a large number of virtual coins.
The holders of tokens do not want to keep unprofitable tokens until the next rise in price. Therefore, they invest in blockchain projects to make a profit.
The yield farming investment strategy is attracting more and more attention and, most importantly, it actually works. The mechanism for bringing the earned assets to the market, although conservative, is quite successful. However, you should be careful not to invest in a scam.
The decentralized financial services market is inclusive. Everyone can create and run a blockchain app, but not all developers strive to comply with law and order.
Note, a few days ago another successful farming project YAM Finance lost about 99% of its price in 24 hours due to technical bug.
About yEarn Finance DeFi Platform
Yearn Finance platform provides the opportunity for crypto holders to participate in yield farming through DeFi protocols. Farming on the blockchain resembles the usual planting of seeds in the ground to multiply them.
To harvest the DeFi of the yearn finance platform, you need to lock cryptocurrency. YFI virtual tokens are distributed among platform members as a reward.
yEarn Finance decentralized ecosystem uses services like Aave, Compound, Dydx, and Fulcrum to optimize token lending. yEarn Finance project mission is to identify promising DeFi services for mutually beneficial synergies.
The rise of the YFI rate has made the yEarn project one of the best farming pools in the current period. And although the company’s official website honestly warns that the project is in beta testing, less than a month has passed since the new YFI tokens soared from zero to $ 12,800, ahead of Bitcoin crypto. After that, the YFI price slightly corrected to $ 10,400.