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Defi Aggregator Yearn.Finance (YFI) Token Over $90K, Exceeds Bitcoin


cryptoknowmics.com 13 May 2021 13:30, UTC
Reading time: ~2 m

Following the announcement of the new project by Andre Cronje, YFI, the token of Yearn.Finance Defi aggregator, surpasses Bitcoin again. In the early morning hours today, the YFI token managed to touch the mark of $96K, hence surpassing the price of Bitcoin.

Yearn.Finance (YFI) Surpasses Bitcoin, Defi Aggregator at $90K

YFI is a core native asset of an excelling aggregator of the decentralized finance protocols (DeFis) Yearn.Finance. The price of the token surged to the price levels unwitnessed on the crypto scene.

Beginning its bull run from the level of $54K in the early morning hours yesterday, YFI managed to add over 50% in a matter of 24 hours and conveniently touched the level of $96K on some popular spot exchanges.

At the time of writing this article, Yearn.Finance has slightly retracted and is presently being traded at the levels of $80K.

In addition to this, it should be noted that the price of the native asset may have been catalyzed by the introduction of the Woofy (WOOFY) protocol and token as the value of WOOFY is pegged to 1/1,000,000 of YFI.

Hence, it can be considered that WOOFY is the very first Dog-themed token in the Defi segment.

The Introduction of the Idea of Aggregation of Yield Farming Strategies

Moreover, the token named WOOFY can be used in woofy.finance decentralized financial protocol (Defi). Also, it has been claimed by the authors that it has the capability to be swapped to Wifey (WIFEY), another popular Defi token.

Yearn.Finance, by Andre Cronje, who is also called the Defi Father, made headlines in July 2020 by the fastest 1000x in crypto. 

Apart from this, it gave rise to the idea of aggregation of yield farming strategies.

The Defi enthusiasts did not wait much in pumping the YFI price to four Bitcoins (BTC), or rather we should say $42K.

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