A new cryptomoney launched in July 2020 in the market has appreciated more than 1,500% in less than a month of its launch. The price of Yearn.Finance (YFI) has recently approached the current value of Bitcoin.
The recently launched altcoin works through the Ethereum Blockchain and its issue has only 30 thousand units in total. In the last 24 hours, 89 million dollars (YFI) were traded according to CoinMarketCap data.
With a market value of over $10,000, Yearn.Finance has recently moved closer to the price of Bitcoin (BTC). Although it is listed on Binance, investors are wary of the project created a few weeks ago.
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The cryptomoney (YFI) can be traded through the exchange. Created on July 21, 2020, Yearn.Finance is less than a month old and has already accumulated an impressive market valuation.
On the day of the launch of the crypto currency, the price of Yearn.Finance reached $739.44. Since then, this is the lowest price ever recorded by the recently created Altcoin.
However, since July 21, the cryptomoney (YFI) has been facing a continuous wave of appreciation in the market, with few price corrections. Thus, the crypto currency approached the value of Bitcoin’s price by quoting almost $12,000.
Last Tuesday, the price of Yearn.Finance reached an all-time high for the altcoin, which reached a price of $11,759.84. Thus, the (YFI) approached the value of Bitcoin which recently topped $12,000 in the market.
In total, Yearn.Finance’s market capitalization is about $300 million. The price of cryptomoney is currently trading at almost $10,000 after a recent correction.
According to CoinMarketCap, the crypto currency that has risen almost 1,500% in one month has 93 trading pairs, including the Binance offering.
„Yearn.finance (YFI) is a crypto currency and operates on the Ethereum platform. It is currently trading in 93 active markets with $88,008,969,876 traded in the last 24 hours.
Kryptomone with the price of Bitcoin
The price of Bitcoin is considered to be the highest in the crypt coin market, with a price close to $12,000. However, the price of Yearn.Finance is close to the current price of (BTC).
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This Wednesday morning (19), the price of Bitcoin Lifestyle is quoted at around $11,870. On the other hand, the (YFI) is worth $10,179.73. In other words, there is a difference of only $1,700 between the two crypto currencies. Or still, almost 14% of the total value of Bitcoin today.
With only 30,000 units in total, (YFI) has already had about 29,960 units issued on the market. Therefore, there are only about 40 units of Yearn.Finance left to be issued to complete the current offer of Altcoin.
„Yearn.Finance has a current offering of 30,000 with 29,960,798 outstanding“.
No matter that the project has achieved an appreciation of 1,500% in less than a month, investors are showing distrust in the cryptomoney, as a publication in Bitcoin Brazil on Facebook shows.
According to comments, the currency could represent a „trap“ because it is a new project. A Facebook user compares (YFI) to another dubious project that „no longer exists“.
„The coin (YFI) started out worth 5,000. I remember the Bitcoin B2X that started with $1,000 and just fell, today it doesn’t even exist anymore.