Generally i am not a fan of yield farming due toe the risks involved in that investing business which include permanent losses. I started knowing about Harvest Finance when i joined Publish0x and iFarm was part of the tokens used for tipping and at that moment i started falling far the harvest finance and i am now even part of the investors group in Harvest Finance.
What makes Yearn Finance so catchy?
If you take a look at Yearn Finance you can see that it has an all time high of $93,435.53 which was set just 4 months ago and if you check a year ago it had an all time low of $739.44. So for someone who sacrificed a few dollar and bought 1 YFI 1 year ago that person had $93k 4months ago. So you can see how this paid off.
What could be the reason for this?
Yearn Finance has a limited supply of 36,666 YFI and with this low supply it wont meet the whole demand and therefore the price will surge. it has a total locked value of $4,564,611,496 and currently trading at $28,754.83.
It is currently suffering a major blow from the bears and in the last 24hr its lost $-1,067.83 in value and its promising to keep on going down and it might reach $24,000 and if that zone fails to hold we then look forward to $18,000.
Harvest Finance Analysis
Technically looking at Harvest Finance we can clearly see that it is sinking into the red sea and is fining it hard to break $300 zone. We can not say FARM is a sh*tty token because the whole of crypto market is going some ups and downs.
What gives me hope in this token its limited supply of 690,420 which is few enough to push the price up provided that it stays in the right direction without any complications.
Currently its deposits in the Yield farming are at USD381,424,897.93 and the market capitalization has increased and its standing at $102,604,712.
The guys behind it are working tirelessly to make things work and recently they updated their system and they added a new feature "Polygon MATIC". So considering all these we can see there is light at the end of the tunnel as they are pushing to make this a worthy investment.