The price of this token left Bitcoin behind but despite that its price is low. It is one of the cheapest token in DeFi world. The conclusion was made cryptocurrency research company Messari.
It took several days for the token to generate $21 million in annual returns for its token holders. As the market cap is worth 390 M USD now, we can note a price-selling ratio approximately 20 times. Compare it with other tokens in Defi space such as ZRX or CRV and we will see that their ratio is 1775 and 1668 times correspondingly.
The project yearn.finance developed as a hobby project established by its founder Andre Cronje. After the company’s launch in February the price for its tokens has risen +18.000% within the last month.
The company was launched as a revenue collector that helps users to find the highest return lending cryptocurrencies.
It’s worth reminding that after the Binance listing announcement the token YFI rose to 6912 USD. A day before, the cost of a digital asset was 4500 USD. The traders could observe how the price rose 65% and all this happened within an hour.