This year has been a tough sail for Yearn.finance since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of YFI.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Yearn.finance to reclaim its all-time high in 2023? Continue with the article to learn about Yearn.finance price analysis and prediction by Coinpaper.
Read also: Yearn.finance and Solidly devs quit DeFi, unleashing speculations and fears
What is Yearn.finance?
Yearn Finance is a decentralized finance (DeFi) platform that offers a suite of services to optimize yield farming, including automated yield farming strategies, lending, trading, and insurance. The main goal of Yearn Finance is to help users maximize their returns on their cryptocurrency investments by automating the process of searching for the best yield farming opportunities and minimizing risk. Yearn Finance’s native token called YFI allows holders to vote on the direction of the platform, including changes to its codebase, fees, and other proposals. It was distributed via a fair launch without any pre-sale or pre-mine, making it one of the most decentralized and community-driven DeFi projects.
Yearn.finance (YFI) price
Currently, Yearn.finance Price is USD. YFI has a circulating supply of coins and a total supply of . If you are looking to buy or sell Yearn.finance, Binance is currently the most active exchange.
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Yearn.finance price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Yearn.finance 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Yearn.finance price at $13,227 to $16,937. On the flip side, a fading interest in the new meme coin may push the price of Yearn.finance to $7,484-$6,172 lows.
Yearn.finance price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Yearn.finance (YFI) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Yearn.finance to climb as high as $18,394, with the more distant prospect of reaching $23,298 in 2024. The bearish scenario is likely to see Yearn.finance (YFI) trading between $14,365 and $12,123 in 2024.
Yearn.finance price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Yearn.finance (YFI) price analysis and prediction is based on pure speculation and observation of Yearn.finance historical price movements.
Our Yearn.finance 2025 price forecast expects YFI to rally towards $32,867 and reach $41,387 by the end of the year. The bearish scenario would see Yearn.finance at $24,146 to $19,387.
Yearn.finance (YFI) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Yearn.finance is neutral. In 2026, we expect Yearn.finance to reach at least $52,975 before climbing higher to $69,983. In case of a bearish scenario, Yearn.finance may fall to $41,385.
Is Yearn.finance (YFI) a good investment?
As an established and popular cryptocurrency with a solid use case as a native token of the most used DeFi aggregator, YFI can be generally considered a worthy investment. However, when it comes to investing in crypto, it’s important to take your time to do due diligence before putting your money into any asset, no matter how promising it may look.
Bottom line
Are you ready to invest in Yearn.finance? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy YFI from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created Yearn.finance?
Yearn Finance was created in February 2020 by Andre Cronje, a software developer and entrepreneur who is also a well-known figure in the crypto community and has contributed to several other DeFi projects in the past.
What was the all-time high for Yearn.finance (YFI) ?
The all-time high price of Yearn.finance is $ on 2021-05-12
