The cookies is used to store the user consent for the cookies in the category "Necessary". This cookie is set by GDPR Cookie Consent plugin. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category. These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. With the guarantees to protect the investments, the protocol expects to attract new investors in the DeFi sector. However, in terms of market capitalization, YFI is still far away from Bitcoin, whose market cap sits over $216 billion.Īnother factor why YFI became the most expensive digital currency is the upcoming launch of Yinsure.Finance, a new service provided by Yearn.Finance that offers insurance for DeFi users and their portfolios. Meanwhile, the lower supply can mean higher demand, and thus the increasing prices. The total supply of YFI tokens is 30.000, very small compared to Bitcoin 21 million. There are, however, some explainable reasons behind such a price spurt. Despite the fact, governance tokens are commonly used as trading assets, some of them like YFI became especially favorable among traders, bringing the digital asset to massive price growth. Launched in July, Built on the Ethereum network, the protocol is also the first that gives YFI token holders the full governance rights.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |