There are many options in the crypto space but Ethereum plan B appears to be working for the platform and the investor. The last two days have seen a huge pull back in the digital money market. The DeFi space has been on the upside and this has come as a relief to the crypto investor keen on jumping to DeFi.
DeFi has come with new product and project launches and the excitement cannot get any better. At least investors can earn more despite ETH becoming less attractive. yETH, a product of Yearn.Finance (YFI) is providing high yield something the crypto investor has been yearning for.
Yearn. Finance (YFI) Hit the Ground Running
In the past crypto projects were hype driven and DeFi might head the same route. Taking advantage of the current craze appears logical. This thought has seen Yearn.Finance garner millions worth of investment in the last 48 hours according to om-chain data available.
The Ethereum Vault on Yearn.Finance raised more than $50 million on the day it hit the market. This could present a better value proposition in the crypto market and help the investor grow their portfolios before the DeFi wave ebbs away.
Ethereum (ETH) and Yearn.Finance (YFI) Heading to the Moon
All indications are that Ethereum (ETH) and Yearn.Finance (YFI) are headed to the moon. This is due to the increased demand for ETH as more investors take advantage of the 90% per annum yield the project promises.
However, the current project uptake could be the latest FoMo. An Ethereum rally at the moment might be as a result of the many DeFi projects and products that are being launched on the Ethereum network. Many ETH adorers are just sitting on the fence to see how the DeFi market is unfolding before jumping in.