Yearn Finance (YFI) is 700x Scarcer than Bitcoin – Crypto Analyst
- The supply of Yearn Finance (YFI) is 700 times lower than that of Bitcoin
- Like Bitcoin, YFI is valued at the $30k area with a current value of $32,300
- The project has lately merged or partnered with several DeFi projects
- Yearn Finance is a DeFi project to watch moving forward
The digital asset of Yearn Finance (YFI) is scarcer than Bitcoin. This fact was observed and highlighted by Crypto and DeFi enthusiast Andre Kong who pointed it out via the following statement and infographic.
Daily reminder that Bitcoin is scarce, but YFI is 700x scarcer
Yearn Finance is Also Valued in the 5 Figure Range
Confirming the math, Yearn Finance has a maximum supply of 30,000 YFI compared to Bitcoin’s 21 Million. Therefore, YFI is very much scarcer than Bitcoin by a factor of 700. This calculation is done on the assumption that there are no Bitcoins that have been lost over time.
At the time of writing, Yearn Finance is currently trading at $32,400 which is approximately $6k less than Bitcoin’s current value of $36,300. However, Yearn Finance (YFI) has an all-time high value of $43,678 that is higher than Bitcoin’s at $42k.
Yearn Finance Merges or Collaborates with Several DeFi Projects
In terms of development, the team at Yearn Finance has announced several mergers or collaborations with other DeFi projects in the past two months.
To begin with, Yearn and Pickle Finance announced a collaboration that would allow both projects to work in symbiosis. Secondly, Yearn Finance and Cream developers teamed up to launch Cream v2. The latter platform is focused on lending and leveraged products.
Thirdly, Yearn and Cover joined forces to ‘help optimize, enhance, and amplify the work that is already underway’. Fourthly, Yearn Finance and Akropolis teamed up to utilize each other’s strengths with Akropolis being at the forefront of institutional investors. Lastly, Yearn Finance and Sushiswap announced a merger that would also utilize the strengths of both projects.
Yearn Finance and YFI Should Keep Thriving
Summing it up, Yearn Finance is one DeFi project to watch in the weeks and months to follow based on the growth of the project and the popularity of DeFi. Furthermore, and as identified by Andrew Kong, YFI being scarcer than Bitcoin by a factor of 700, might pique the interest of investors and traders who have identified the upward potential of the supply-demand dynamics of the token.
Source: Read Full Article