Today: 2021-10-26 Disclaimer: This is not a financial advice

Is it a Good Time to Buy yearn.finance Right Now?

Current Price
$36514.0
All Time High: $90787.0

yearn.finance is down -59.66701% from its highest price on 2021-05-12.

3/5
Avarage Daily Volume: $215,630,880.00

yearn.finance has a daily trading volume of $215,630,880.00 which it will make it super easy for you to sell your holdings of yearn.finance

Community

yearn.finance has 169821 total followers in all its social media accounts.

4/5
Exchanges

yearn.finance is listed on 100 exchanges

5/5
Price Potential

yearn.finance price value has the potential to increase to $237266.55 in the next crypto bull run.
Which may take up to 5 years from now.

Overall Score

Our algorithm believes it's So Good time to invest in yearn.finance right now. We give it all overscore of

3.75/5

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Summary of yearn.finance(YFI):

yearn.finance(YFI) today price is $36514.0, which is down -59.66701% from it's all time high. The avarage daily volume is $215,630,880.00 and you can trade yearn.finance on 100 exchanges.

169821 people are following yearn.finance in all social media accounts.

Our algorithm believes it's So Good time to invest in yearn.finance with confident score of 3.75 out of 5.

What is yearn.finance(YFI)?

Yearn Finance is a suite of products in Decentralized Finance (DeFi) that provides lending aggregation, yield generation, and insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by YFI holders. It started out as a passion project by Andre Cronje to automate the process of switching capital between lending platforms in search of the best yield offered, as the lending yield is a floating rate rather than fixed rate. Funds are shifted between dYdX, AAVE, and Compound automatically as interest rates change between these protocols.  The service offered includes major USD tokens such as DAI, USDT, USDC, and TUSD. For example, if a user deposits DAI into yearn.finance, the user will receive yDAI token in return, which is a yield-bearing DAI token.  Later on, it collaborated with Curve Finance to release a yield-bearing USD tokens pool that includes four y-tokens: yDAI, yUSDT, yUSDC and yTUSD, it is named as yUSD.  Yearn Finance debuted the vault feature after its token launch, igniting a frenzy on automated yield farming and is considered the initiator of the category of yield farming aggregator. Basically, the vault will help users to claim yield farming rewards and sell it for the underlying assets.  Vaults benefit users by socializing gas costs, automating the yield generation and rebalancing process, and automatically shifting capital as opportunities arise. End users also do not need to have proficient knowledge of the underlying protocols involved or DeFi, thus the Vaults represent a passive-investing strategy. It is akin to a crypto hedge fund where the aim is to increase the amount of assets that users deposited.