Tuesday, July 5, 2022
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

Ethereum-Based DeFi Token YFI Surpasses The Price Of Bitcoin To Become The World’s Most Expensive Crypto-Asset

by firstcryptonews
August 21, 2020
in Market Updates
Ethereum-Based DeFi Token YFI Surpasses The Price Of Bitcoin To Become The World’s Most Expensive Crypto-Asset

yEarn Finance token YFI has supplanted the price of the king of cryptocurrencies to become the world’s most valuable asset. YFI has gained as much as 46.27 percent in the past 24 hours to be worth more than $15,000, according to CoinMarketCap data.

The price of YFI has been on an unstoppable rally, thanks to the growing demand for decentralized finance (DeFi).

The Price Of A Single YFI Is Now More Expensive Than One BTC
All eyes are on yEarn finance token YFI lately. Since its launch in late-July by developer Andre Cronje, the price of the altcoin has kept skyrocketing to new all-time highs. While it started off trading at around $32, YFI has since then exploded over 32,000% to the current price of $15,457.57. In contrast, bitcoin is worth around $11,863 at press time. The benchmark cryptocurrency recently slipped below $12K after rallying to just shy of $12,500.

Notably, yEarn Finance is the very first project built on the ethereum blockchain to give total control of governance to the token holders. In addition, the token has no pre-mine and no allocation to the founder — making it almost as decentralized as bitcoin.

The price of YFI has risen in tandem with the total value locked in the yEarn Finance protocol. At the moment, at least $684.6 million has been locked in the DeFi protocol, data from DeFi Pulse reveals.

But what’s even more interesting about YFI’s meteoric rise is the fact that the team behind the project has openly called it a “completely valueless 0 supply token” with “0 financial value”.

What Comes Next For YFI?
Although YFI’s price is now well above $15,400, its market cap is still hovering at around $467 million. Whether the price of the asset continues shooting up is anyone’s guess.

While some analysts believe the asset could be due for a correction in the near-term, others expect its upsurge to continue — such that YFI could become even more expensive than two BTC.

 

Related Posts

El Salvador Creates History by Integrating Bitcoin as Legal Tender, Buys $21 Million in BTC

El Salvador Creates History by Integrating Bitcoin as Legal Tender, Buys $21 Million in BTC

by firstcryptonews
September 8, 2021
0

El Salvador, the Central American nation created history again today after it finally integrated Bitcoin ($BTC) as legal tender in...

Bitcoin (BTC) Bounces Back Above $9,000; Is Another Pre-Halving Rally Underway?

Crypto Wall Street: Goldman Sachs to underwrite Coinbase IPO while JPMorgan says Bitcoin “overbought”

by firstcryptonews
December 23, 2020
0

Wall Street is coming for crypto and how. The two US banks have previously contended against the growth of cryptocurrencies...

Bullish Signal: South Korean Parliament Passes Law That Fully Legalizes Cryptocurrency Holding And Trading

Angel investor says crypto DeFi is one of the best “frontiers” in Silicon Valley today

by firstcryptonews
December 23, 2020
0

The decentralized finance (DeFi) space has seen extreme growth this year, as evidenced by the $15 billion worth of capital...

etoro

eToro Rolls Out Staking-as-a-Service for Cardano and Tron

by firstcryptonews
October 8, 2020
0

Crypto brokerage firms are charging into the cryptocurrency staking scene. More and more cryptocurrency companies are beginning to offer staking...

The first exchange-traded crypto product will be listed on XETRA

The first exchange-traded crypto product will be listed on XETRA

by firstcryptonews
July 2, 2020
0

The London-based ETC Group plans to offer the first exchange-traded crypto product on the German stock exchange XETRA – the...

Bitcoin (BTC) Bounces Back Above $9,000; Is Another Pre-Halving Rally Underway?

Bitcoin (BTC) Bounces Back Above $9,000; Is Another Pre-Halving Rally Underway?

by firstcryptonews
March 7, 2020
0

After attempting to reclaim the $9,000 level a couple of times with no success, the bulls finally gained enough momentum...

Next Post
payaccept

PayAccept – Currency and Wallet payments accepted in seconds.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

puregold pgpay

PGPay enters IEO phase with token sale live on Tokpie and another scheduled on Sistemkoin

3 years ago
EOS and TRON Taking Over The Dapps Space Leaving ETH behind In Recent Findings

EOS and TRON Taking Over The Dapps Space Leaving ETH behind In Recent Findings

3 years ago
2local is entering into new partnerships with Bitrue exchange and crypto payment provider Simplex

2local is entering into new partnerships with Bitrue exchange and crypto payment provider Simplex

1 year ago
Ripple CEO: In A Crypto Market Flooded With Too Many Coins, XRP Offers Less Volatility And Better Utility

Ripple CEO: In A Crypto Market Flooded With Too Many Coins, XRP Offers Less Volatility And Better Utility

3 years ago
Home run token

Homerun Brings World’s First Defi Real Estate Investment Token

7 months ago
KPOP Styling NFT, FASHIONCRYPTO

KPOP Styling NFT, FASHIONCRYPTO

2 months ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

June 21, 2021

Recent News

The Connecter 4.0- The World’s First Decentralized Bottom-Up Economy

The Connecter 4.0- The World’s First Decentralized Bottom-Up Economy

June 18, 2022

Press Release

Coinweb Launches the OnRamp Platform to Provide Full Fiat Rails Access to Digital Assets

Coinweb Launches the OnRamp Platform to Provide Full Fiat Rails Access to Digital Assets

July 5, 2022

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News