Yearn Finance is a revolutionary aggregator that caters to investors in decentralised finance (DeFi). Leveraging automation empowers users to maximise their earnings in yield farming. Its primary objective is to streamline the ever-expanding landscape of DeFi, making it accessible to non-technical investors and those seeking less-committal involvement compared to seasoned traders. Launched initially as iEarn in February 2020, this service has recently experienced meteoric growth, propelled by introducing new offerings and issuing the YFI token. This article will explore Yearn Finance (YFI) price predictions to anticipate this asset's value trajectory in 2024 and beyond.
What is Yearn Finance (YFI)? Understanding Yearn Coin's price
Yearn Finance stands out as an exceptional decentralised finance platform that offers a wide array of services. These encompass yield farming, lending, and staking, all designed to cater to the diverse needs of individuals within the cryptocurrency space. An integral part of Yearn Finance is its native token, YFI, which powers the platform and provides liquidity to its users. YFI tokens can be easily acquired or sold through various exchanges, enabling seamless transactions.
What distinguishes Yearn Finance from its counterparts is its unwavering commitment to delivering substantial value to its users. The team behind this platform has devised a remarkable system that maximises user returns by automatically investing their funds in the most lucrative protocols available. This system has proven immensely successful, propelling Yearn Finance to the forefront of the industry.
Furthermore, Yearn Finance takes pride in its unwavering dedication to decentralisation. By harnessing the power of decentralised technologies, such as smart contracts, the platform eliminates the risks associated with single points of failure. This decentralised approach has attracted numerous users seeking an alternative to traditional centralised financial institutions.
A notable aspect that sets Yearn Finance apart is its emphasis on yield farming. This process allows users to stake their crypto assets from their wallets and earn rewards by participating in various protocols. By providing liquidity to these protocols, users can secure a share of the associated fees, enhancing their overall earnings potential.
YFI's history
Yearn Finance was brought to life by Andre Cronje, widely recognised as a prominent figure in the cryptocurrency industry, particularly in DeFi. What sets Yearn Finance apart is the rarity of its funding model. Unlike many projects in the crypto space, Yearn Finance didn't raise any private or public funding, and Cronje didn't reserve any tokens for himself.
Cronje's expertise and experience in the cryptocurrency field have contributed to the success and reputation of Yearn Finance. Since its launch in July 2020, the protocol has held assets worth over $1 billion at one point in time, a testament to its popularity and trust within the DeFi community.
In April 2022, Andre Cronje, the developer behind several DeFi projects, decided to step away. This announcement directly impacted the prices of various popular DeFi projects, including YFI, which experienced notable effects.
How Yearn Finance works
Yearn Finance operates by automating the process of switching capital between different lending platforms to secure the best possible yield. This automation is a key feature that sets Yearn Finance apart, as it allows users to deposit and lock their capital in a DeFi protocol and earn rewards in the form of the protocol's native tokens. The platform supports major USD tokens such as DAI, USDT, USDC, and TUSD, providing users with a variety of options for their investments.
The automated market maker (AMM) arm of Yearn Finance, SushiSwap, plays a crucial role in providing liquidity to the platform. Additionally, Yearn Finance's insurance arm, Cover, offers protection against potential losses, adding an extra layer of security for users. This combination of automated yield optimisation and risk management makes Yearn Finance a comprehensive solution for DeFi enthusiasts.
Yearn Finance projects
Now, let's explore the different projects and forks within the Yearn Finance ecosystem:
- Yearn Finance (YFI). Yearn Finance, previously known as iEarn Finance, was launched in February 2020. It was one of the first professional attempts at creating a yield farming project. Yearn Finance allows users to deposit and stake ERC-20 tokens, earning daily interest. It integrates various blockchain protocols, simplifying the process of yield farming and maximising profitability through continuous rebalancing.
- Yearn Finance Fork (YFII): DFI.money. YFII is the first fork of YFI and emerged from the Chinese crypto community. It was created in response to a failed governance vote for YFI's proposed weekly halving (YIP-8). With a 98% code similarity to YFI, YFII implemented the halving proposal. Despite initial scepticism, the YFII token gained traction and reached an all-time high (ATH) of $6,000.
- YFValue (YFV). YFV is a fork of YFII that was announced in August 2020. YFV acts as the governance token for the YFValue protocol, aiming to make yield farming accessible worldwide. Unique features of YFV include voting rights to control the token supply rate and referral system. The maximum supply of YFV tokens is capped at 15,750,000. YFValue also focuses on integrating an insurance protocol like Nexus Mutual to reduce stakeholder risks.
- Yearn Finance Link (YFL). YFL, also known as Yearn Finance Link, is a modified version of YFI tailored to the Chainlink community. The YFL development team forked YFI and adapted it to enable the staking of LINK tokens. YFL serves as a bridge between Chainlink and Yearn Finance. The project offers multiple pools with unique configurations for maximising yield.
- Yearn Fuel (YFuel). Yearn Fuel aims to make Yearn Finance accessible to all users, regardless of their investment size. It introduces voting rights to control the inflation rate and referral system. YFuel implements a new token-burning model called "Grafuel'', burning 1% of the total token supply per month to increase liquidity.
Each project within the Yearn Finance ecosystem brings unique characteristics and goals, catering to different aspects of yield farming and governance in the DeFi.
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Yearn Finance (YFI) price analysis
As of 12 September 2024, Yearn Finance's price was $4,859.98, with a daily trading volume of $10,458,842. The token ranked #239 on CoinMarketCap, with a market cap of $162,180,975, a circulating supply of 33,352 YFI, and a total supply of 36,647 YFI.
Yearn Finance (YFI) price statistics (as of 12/09/24)
YFI current price | $4,859.98 |
Market cap | $162,180,975 |
Circulating supply | 33,352 YFI |
Total supply | 36,647 YFI |
Daily trading volume | $10,458,842 YFI |
All-time high | $93,435.53 (12/05/21) |
All-time low | $739.44 (21/07/20) |
Website |
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YFI coin price history
In 2020, the Yearn Finance token exhibited significant price fluctuations. From 21 July to 10 August, it skyrocketed from $906.71 to $6,263, marking an astounding surge of 590% in less than three weeks. The bullish momentum continued, propelling the YFI coin to $15,317 on 20 August and peaking at $35,102 on 31 August. However, the coin experienced a decline of over 36%, dropping to $22,281 on 5 September.
Within a week, the YFI coin bounced back, growing over 94% to $43,282 on 12 September. It declined to $21,551 on 23 September and hit a bottom of $8,541 on 5 November. By the end of 2020, it closed at $22,738, reflecting a higher value.
In 2021, the YFI coin initially climbed to $47,188 on 13 February but fell to $30,695 by 28 February. A new bull rally commenced in April, driving the YFI coin to $53,415 on 26 April and culminating in an all-time high of $93,435 on 12 May. However, by 19 May, the token experienced a decline of over 50%, reaching $45,980. It further bottomed out at $25,809 on 20 July.
Following the July low, the YFI coin gradually ascended, reaching $42,919 on 5 September. Nevertheless, its price declined to $27,360 on 21 September and hit a bottom of $19,594 on 13 December. The year concluded with the coin registering a 68% increase, closing at $32,947.
From January to September 2024, Yearn.finance (YFI) experienced a significant price decline, dropping approximately 42.6%. Starting at $8,279 in January, YFI fell to $4,748 by September. The YFI coin price showed notable monthly fluctuations, with a 14% drop in July and smaller declines of 3.3% and 10% in August and September, respectively. The highest price during this period was $6,917 in July, while the lowest was $4,278 in September. The average Yearn coin price for 2024 up to September was around $7,032, with an overall volatility of 51%. YFI's daily trading volume averaged $65.9 million, reaching a peak of $284.8 million.
Now, let's delve into YFI price predictions from 2024 to 2040.
YFI/USDT price chart
YFI technical analysis
As of 11 September 2024, the price prediction for Yearn.finance (YFI) is bearish. Technical indicators suggest that its 200-day SMA will decline to $6,076.08 by 11 October 2024, while the short-term 50-day SMA is expected to reach $4,816.39 by the same date. The Relative Strength Index (RSI) stands at 45.25, indicating a neutral market sentiment. YFI's support levels are at $4,904.92, $4,853.66, and $4,797.61, while resistance levels are set at $5,012.24, $5,068.29, and $5,119.55, with a pivot point of $4,960.98.
Yearn Finance predictions 2023
According to Coin Price Forecast's prediction for Yearn Finance (YFI) price, the year started in 2023 at $5,043.12. As of 12 June 2023, the price of YFI is $5,390.64, indicating a 7% increase since the beginning of the year. The forecast suggests that by the end of 2023, the price of YFI is expected to reach $5,488, representing a year-to-year change of +9%. The projected rise from the current price to the end of the year is +2%. Additionally, in the middle of 2023, the price of YFI is anticipated to reach $6,232. In the first half of 2024, the price is predicted to climb to $7,134, with an additional increase of $676 in the second half, closing the year at $7,810. This would reflect a significant overall growth of +45% compared to the current price.
Yearn Finance predictions 2024
Yearn Finance price predictions for 2024 show a wide range, with estimates as low as $3,402.01 and as high as $43,302.70. Monthly data highlights a downward trend in the second half of the year: in July 2024, YFI opened at $6,340, peaked at $6,917, and closed at $5,453 (-14%); in August, it dropped 3.3%, closing at $5,273; and in September, it fell another 10%, closing at $4,748. Year-end predictions vary, with some sources forecasting YFI at $25,455.13 while others suggest a more conservative $10,593.15. Volatility remains high, but some analysts expect potential growth by the year's end.
Is the Yearn Finance coin a good investment?
Determining whether YFI is a good investment is a complex matter that depends on your individual investment goals and preferences. However, it's widely recognised that Yearn Finance has been one of the most successful projects in the industry, with the YFI token outperforming many other assets over the past year. YFI could be an excellent investment choice if you're seeking long-term growth. Nonetheless, conducting thorough research and considering the risks associated with cryptocurrency investments before making any investment decisions is crucial.
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Yearn Finance (YFI) price prediction 2024-2050
Let's analyse recent YFI price predictions and evaluate the prevailing market sentiment. It's crucial to remember that accurately predicting market behaviour is challenging. The price forecasts presented by Yearn Finance serve as informative data points when considering financial investments. It's essential to conduct thorough research before investing in cryptocurrency markets due to their highly volatile nature.
WalletInvestor YFI token price prediction for 2024, 2025, 2030, 2040 and 2050
WalletInvestor's YFI token price predictions show a decline, with estimates of $3226.80 for 2024 and $2822.65 for 2025, reflecting a significant downward trend. By 2028, they forecast a recovery to $5199.04 by May 2028.
CoinCodex Yearn Finance crypto price prediction for 2024, 2025, 2030, 2040 and 2050
CoinCodex's Yearn Finance price predictions indicate a potential drop of 17.14%, reaching $4,022 by October 2024. For 2025, estimates range between $3,561.23 and $7,186.95, suggesting a possible gain of 48.02% if YFI hits the higher target. By 2030, predictions vary from $447.93 to $3,977.08
Long Forecast Yearn Finance token price prediction for 2024, 2025, 2030, 2040 and 2050
According to Long Forecast's YFI token price predictions, Yearn Finance is projected to close the year 2024 with a price of $3,511. The average price prediction for the token in 2025 is $4,088, and it is expected to drop to $1,670 by 2027.
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Yearn Finance future forecast in general
The forecast for Yearn Finance (YFI) between 2024 and 2050 is generally cautious. WalletInvestor predicts a decline, with YFI dropping to $3,226.80 in 2024 and $2,822.65 in 2025, though a recovery to $5,199.04 is expected by 2028. CoinCodex also foresees a drop to $4,022 by October 2024, with a potential range between $3,561.23 and $7,186.95 in 2025. By 2030, estimates range from $447.93 to $3,977.08. Long Forecast projects YFI at $3,511 by the end of 2024 and $4,088 in 2025, dropping to $1,670 by 2027.
How high can the YFI token go?
Based on current predictions, the highest potential for Yearn Finance (YFI) by 2028 is around $5,199.04, according to WalletInvestor. CoinCodex suggests a possible range of up to $7,186.95 by 2025.
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