The DeFi market is booming regardless of the YAM incident. One of the DeFi tokens yearn.finance (YFI) has a value more than that of Bitcoin (BTC). A single token price is now above $14,000 as compared to Bitcoin's $11,800 USD as per Coingecko data. YFI yesterday on 20th August went on to record its all time high of $16,081.59 USD.
While some tokens did manage to supersede Bitcoin (BTC) in price factor, yearn.finance (YFI) is the only token priced above Bitcoin with a noticeable $175 Million USD 24 hrs trading volume as per Coingecko data.
(Image Credit:- Coingecko YFI Chart)
The DeFi token yearn.finance (YFI) was launched a month ago at a price of $32 is now trading at above $14,500 USD. The Total Value Locked (TVL) in USD of YFI token now exceeds above $700 Million USD as per latest chart report of DeFi Pulse.
(Image Credit:- yearn.finance TVL-DeFiPulse)
The maximum supply of YFI tokens is 30,000 and like many other DeFi tokens it can be staked (with a power to vote as per protocol's direction) and farmed. Presently the token is trading above at $15,000 USD at the time of writing this post.
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