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Yfi price prediction 202112/23/2023 ![]() January saw the token fall to $2,353.08, while any hopes investors may have had in February were nixed as soon as Russia invaded Ukraine and the price, which had already fallen under $2,000, dropped to $1,614.27 on 24 February 2022. So far, 2022 has been a tough year for crypto generally and YFII has been one of many coins and tokens that have done poorly. December 2021 saw the downturn continue and the token closed the year at $2,810.18. However, things went downwards as the market shrunk, prompted by concerns about the Omicron variant of Covid-19, and it ended the month at $3,470.11. October was worse, closing at $3,769.76, while November saw a little bit of recovery as the market turned bullish in the wake of Bitcoin reaching new heights, with YFII reaching $4,408.32 on 8 November 2021. Sadly for investors, any hopes that it would go back to match, or even beat, its all-time high were soon dashed and by the end of September 2021 it stood at $4,041.38. YFII responded and, by the end of the month it was worth $6,330.34, down slightly from 31 August’s intraday high of $7,629.82. In August, the crypto market recovered, boosted at least in part by a growing interest in non-fungible tokens (NFTs). During the summer, it spent most of its time oscillating around $1,500, with the low point coming on 22 June 2021, when the token was worth $1,334.30. The coin moved upwards, with peaks and troughs, and even managed to climb above $3,000 at various points in February, April and May. The first few months of 2021 were a real boom time for crypto and, to a certain extent, YFII got caught up in the action. It quickly fell back from this position and by the end of the year it was worth around $1,600. While its price initially plummeted to an all-time low of $96.29 on 3 August that year, it soon recovered and, less than a month later, on 1 September 2020, it was trading at an all-time high of $9,385.42. When YFII first came onto the open market in the summer of 2020, it was worth around $1,000. While past performance is never any guarantee of future results, knowing what a cryptocurrency has done in the past can help us when it comes to both making and interpreting a DFI.Money crypto price prediction. Let’s take a look at YFII’s price history. This may not automatically be a bad thing – after all, plenty of well-established cryptos, including Bitcoin, have either pseudonymous or anonymous founders – but it might be an issue for investors who want to know as much about a crypto as they can before investing. There is no clear list of who exactly founded DFI.Money. It is also worth noting that the whitepaper says YFII “has zero financial value”, although the market disagrees. ![]() YFII operates on the Ethereum blockchain, which means that it is, technically, a token rather than a coin, although you will still see references to the DFI.money coin. The amount that could be mined or farmed reduced every week, which was the idea behind the proposal that split YFI and created YFII. There is a maximum supply, according to the whitepaper, of 40,000, all of which were mined by September 2020. YFII supports the project, and can be bought, sold and traded on exchanges. There was, however, a move by some supporters of the plan, who instituted a hard fork, creating a new protocol called DFI.Money, with a new native token, YFII. ![]() While the suggestion won with 80% of the vote, it was not passed because the quorum of 33% of YFI holders did not participate. At that time, there was a proposal to protect the token from so-called ‘crypto whales’ – big speculators who gobble up lots of crypto, often influencing market trends. By July 2020, the process of mining and farming the token ended. Yield.Finance was originally launched in early 2020, with the system’s native token, YFI, coming onto the market in the summer of that year. What DFI.Money wants to do is to automate the process of finding the marketplaces with the best yields across decentralised finance (DeFi) platforms. The issues with yield farming are that it can be complex and expensive if you do not move your crypto to the right platform in time. In other words, it involves moving crypto around different marketplaces in an attempt to generate the maximum amount of interest. Yield farming is “the practice of staking or lending crypto assets in order to generate high returns or rewards in the form of additional cryptocurrency”. The idea behind Yield.Finance and, by extension, DFI.Money is all about optimising yield farming. DFI.Money explainedĭFI.Money and its native token DFI.Money (YFII) exist because of a hard fork from the Yield.Finance (YFI) protocol. Let’s see if we can find out, and take a look at some DFI.Money price predictions, too. But what about its native token, DFI.Money ( YFII)? The DFI.Money protocol aims to help people with yield farming.
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