Yearn Finance (YFI) Breaks Price Records

Over the past few days, the price of the Yearn Finance (YFI) token has exploded, showing almost vertical growth. As a result, the DeFi token managed to reach a new all-time high. In terms of trading volume, there has also been an increase, thanks in part to the listing on the Binance exchange.

Incredibly, the token traded at just $32 at the beginning, and now it has exceeded $33,000 with a market capitalization of over $1 bln. The growth in one month was a phenomenal 103,125%. BitMEX CEO Arthur HAYES has hypothesized that the token's value could soon reach $100,000.

No matter how high the price of Yearn Finance is, it is not enough to displace BTC from the first place, as in order to surpass the capitalization of bitcoin, a price for a token worth more than $7 mln would be required, which seems extremely unlikely. Although, if YFI continues to grow at this rate, it will manage to achieve even higher indicators.

Image courtesy of NairaMetrics