Yearn.finance (YFI) may top $50K in no time according to experienced crypto traders

Some top crypto analysts are of the idea that DeFi may reach $50K soon.

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Last weekend, Binance exchanged displayed something interesting.

The native token of Yearn.finance, YFI reached a new all-time high ATH at $43,966 on its exchange. This happened while YFI had experienced severe volatility in the past few weeks, having reached to around $40K and shortly plummeting to $28K and now again skyrocketing and reaching to more than $43K. When this happened, on some exchanges, Bitcoin had dropped below $10K.

The good news is that Bitcoin managed to recover a little while YFI has doubled since Sept. 9 and some experts argue that it will reach $50K in no time.

But what is the reason for such rise?

Multiple items contribute to fueling such surge. A combination of the increasing popularity of DeFi liquidity pools, new products and yield farming are the likely items.

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Binance

Yearn Finance (YFI)

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Binance

Yearn Finance (YFI)