Yearn.finance (YFI), which has increased its value since its establishment, broke its own record the previous day and increased its price to 39,306 dollars. In the face of this rise, a new one has been added to the crazy predictions for the future of YFI. Ryan Watkins, one of Messari’s researchers, suggests that 1 YFI could be $ 1 billion.
Yearn.finance debuted in mid-July as one of the DeFi projects. YFI, which was traded at around $ 31 on July 18, the date of entry into the industry, was trading at $ 33,214 at the time of writing. YFI, the 25th most valuable cryptocurrency with a market capitalization approaching $ 1 billion, continues to rise. YFI is mostly preferred for yield farming purposes and it is thought to play a major role in its success.
After being listed on the OKEx exchange recently, Binance announced yesterday that it has opened YFI futures for its users. In light of these announcements, the YFI value has increased by 135% since last week. Although there are some factors for this rapid rise, such as listing announcements and interest in the popularity of yield farmine; The main reason why the YFI price has increased so much is that there are about 30 thousand YFI tokens as opposed to the 18 million Bitcoins in circulation.
$ 1 Billion Forecast
Ryan Watkins of Messari, one of the leading research companies in the cryptocurrency industry, did not pass without comment on the crazy YFI rally. Arguing that the YFI price predictions on his Twitter account are underestimated, Watkins thinks that the YFI value may see much higher figures. The researcher says that YFI, which is known to have a maximum supply of 30 thousand in the market, can reach 1 billion dollars.
David Hoffman, one of the founders of Bankless, stated that Ryan Watkins’ comments on Twitter were missing. Stating that Watkins assumes that the total wealth remains constant by saying that there is 360 trillion dollars of wealth in the world, Hoffman reminded that DeFi and the crypto money sector are the areas that produce value. In other words, Hoffman said that if the YFI value rises to $ 1 billion, the total wealth in the world should triple. In short, Hoffman argues that in such a scenario, the value per YFI would be $ 3 billion, not $ 1 billion.
BitMEX CEO is also Hopeful of YFI
BitMEX CEO Arthur Hayes predicts YFI will continue to grow and rise. As we previously reported, Hayes, in a statement made on his social media account, argues that the price of YFI can go up to $ 100,000. Although this $ 100,000 estimate is much lower than what names like Watkins and Hoffman did; It reveals that there is an overall positive outlook for the future of YFI across the market.