Analysts say Yearn.finance (YFI) remains in an advantageous position, despite a strong correction. Like Bitcoin (BTC), Ethereum (ETH), and other top digital assets, YFI has faced a strong retracement in recent days as the old markets were crushed by the rising dollar rate. Decentralized cryptocurrency fell sharply. Ethereum-based cryptocurrency has faced a drastic correction in recent days after approaching its $ 40,000 high. The table below shows this too.
YFI Has Enough Space To Grow
Analysts say YFI has enough room to grow after the strong downtrend. Santiment, a blockchain analytics firm, recently shared a tweet explaining why YFI remains positive in a long-term perspective. The company stated that Aave users have deposited YFI into the lending pool, the social volume for the cryptocurrency remains strong, and the data shows that a large accumulation has been made with the cryptocurrency. All these trends working in the merger can raise YFI higher in the long run.