Boutique Media & consulting group
BTC$63824
ETH$3103
BNB$608
XRP$0.52
The governance token for DeFi protocol yearn.finance, YFI recently touched an all-time high of over thirty eight thousand USD. That is more than three times the Bitcoin’s price of around eleven thousand seven hundred USD and almost two times BTC’s all-time high of twenty thousand USD.
Though their originators envisioned governance tokens to permit holders to vote on suggestions to update the network, the tokens are primarily held as speculative assets. Notably, YFI has become one of the most popular DeFi tokens. The token’s price has soared by 16.09% in the last 24 hours, as per CoinMarketCap.
The token is showing spectacular growth. On Friday morning, it was worth only fourteen thousand three hundred USD and was showing a daily trading volume of around sixty-eight million USD. At the time of reporting, it is trading at around $33754 with a volume of over nine hundred and forty-one million USD.
One of the primary reasons why the DeFi token is worth so much is because of its meagre supply. The token has a total supply of only thirty thousand. On the other hand, Bitcoin has a token possible supply of only twenty-one million.
See also
