How DeFi Season Could Send YFI To $270,000 Per Token
When Andre Cronje released Yearn Finance (YFI), the DeFi fever was brewing. Two events converge and launched the sector into full madness: Uniswap’s UNI airdrop and governance token YFI breaking every foreseeable resistance to reach $30,000.
At that moment, Bitcoin was trading at approximately $10,000. Now, after a downtrend, YFI seems ready to reach new highs. YFI is trading at $51.386 with 15.4% profits in the 24-hour chart. Over the week, YFI is up 15.9%.
YFI with bullish momentum in the 24-hour chart. Source: YFIUSDT Tradingview
Data from DeFi Pulse point to a highly bullish outlook for DeFi. Picking up the upward momentum from February 2021, the DeFi ecosystem has an all-time high Total Value Locked of $57.9B. Top 3 protocols Compound, Maker, and Aave hold over $20B alone.