Yearn Finance is a DeFi aggregator service that uses automation to assist investors get the most money out of yield farming. Its purpose is to make the rapidly expanding DeFi business more understandable for investors who aren’t tech-savvy or prefer to speak in a less serious tone than professional traders.
Yearn Finance, the leading yield robo-advisor, unveiled details about its v3 this month, bringing the project up to date with a decentralized finance (DeFi) movement to standardize money-making tokens. Yearn’s vault tokens, which effectively reflect deposits in the protocol’s vaults, will be issued utilizing the ERC-4626 standard in the near future. Junior tranches, which will have more risk and higher reward, are another modification in Yearn’s v3.
Yearn vaults will become an order of magnitude more flexible with additional techniques with improved modularity. They can now have more than 20 strategies per vault, and partners can even share vault management. Let us review the YFI price
YFI Price Prediction
For a long time, the YFI has been on a downward trend. It has dropped more than 50% in the last 30 days. At higher levels, the YFI buyers find it difficult to maintain their gains. However, the downside may be limited near $7,022, making it a crucial support level in the days ahead.
After testing the $7,022 support level, we could witness a relief rally to the $12,591 resistance level in the next few days or weeks. Even still, the asset’s downside pressure remained intact. We won’t be bullish on YFI until it clears the $17,307 key resistance mark. For a short-term rally, $7,022 and $3,382 are two plausible support levels where YFI may bottom out.
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