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.
And for our best, freshest research on NFT buys, Layer 1 chains, DeFi, or games, come check out Altcoin Buzz Access. Plans start at only $99 per month
For more information on cryptocurrency, visit the Altcoin Buzz YouTube channel.
Images courtesy of TradingView.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate. However, there is no guarantee or warranty as to the accuracy, timeliness, or completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
