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[onlyprofits]

The creator of Yearn.Finance, Andre Cronje, announced on his twitter account that the upcoming update of the token will be the most complex.
He announced that the new system will operate with the Synthetix derivatives liquidity protocol, with the Aave loan protocol, and with Chainlink and T, it will also work on the first or second layer of the Ethereum network. These improvements will reduce transaction fees.
With all these improvements, many industry experts predict that the YFI token could reach between $ 241,000 to $ 315,000 by the end of 2024.
What do you think of this analysis?
What many believed to be a trap has now become the Amazon of Decentralized Finance (DEFI).

 

[SCAMEXPOSER]

This could be possible with the speed of these DeFi tokens, the reduction in the gas fee may also boost the trading volume of ethereum as more people will not be scared of ethereum investment because of the gas fee.

 

[Josemendez]

It can be possible for this to happen . I think people never believed in this coin from the onset but now , people are regretting for not using this potential coin when it was cheap

 

[Niftyicon]

The creator of Yearn.Finance, Andre Cronje, announced on his twitter account that the upcoming update of the token will be the most complex.
He announced that the new system will operate with the Synthetix derivatives liquidity protocol, with the Aave loan protocol, and with Chainlink and T, it will also work on the first or second layer of the Ethereum network. These improvements will reduce transaction fees.
With all these improvements, many industry experts predict that the YFI token could reach between $ 241,000 to $ 315,000 by the end of 2024.
What do you think of this analysis?
What many believed to be a trap has now become the Amazon of Decentralized Finance (DEFI).

4 years is a long time to predict any coin. Agreed that the coin has experienced spike in price in recent times but how long will that be maintained? Until the updates and improvements begin to play out, we cannot really be certain.

 

[Josemendez]

4 years is a long time to predict any coin. Agreed that the coin has experienced spike in price in recent times but how long will that be maintained? Until the updates and improvements begin to play out, we cannot really be certain.

Yeah but we can make preparations for it incase it happens as predicted . Remember when YFI was new , people said that it will take years to reach a high value bit it didn't take months

 

[Niftyicon]

Yeah but we can make preparations for it incase it happens as predicted . Remember when YFI was new , people said that it will take years to reach a high value bit it didn't take months

I get your point and I know that when it comes to crypto, what seems impossible could end up possible. I was merely giving a balanced opinion of the fact that it could go either way in the future.

 

[onlyprofits]

Many saw this coin and believed it was a trap, now they see how the project has grown and perhaps now they want to invest more money, especially on the eve of their improvements..

 

[SCAMEXPOSER]

Even if I have money I may not invest on this coin now because it is konda risky in my opinion, those people who had invested earlier are very lucky.

 

[Niftyicon]

Even if I have money I may not invest on this coin now because it is konda risky in my opinion, those people who had invested earlier are very lucky.

This is similar to my views too. I feel the time to invest in the coin has passed, the price is too high now and it puts new investors at a disadvantage.

 

[Josemendez]

I get your point and I know that when it comes to crypto, what seems impossible could end up possible. I was merely giving a balanced opinion of the fact that it could go either way in the future.

True. This is why it is a risky investment which can either go the right trennd or go to the drench . Since am not paying for it there is nothing to lose

 

[SCAMEXPOSER]

It is indeed but to be on the safe side by either loosing less or gaining minimally is to invest manageable amount in the coin then opt for other smaller coins or the already existing bitcoin and the likes.

 

[Brain]

It can be possible for this to happen . I think people never believed in this coin from the onset but now , people are regretting for not using this potential coin when it was cheap

Same here never believed in it, thought it will go same way of others that can and went away. But it seems this one has the potential to grow.

 

[onlyprofits]

There are several situations that lead to investing in a new token:
1.- You are a great connoisseur of the ecosystem and you know that this token will fill existing gaps.
2.- You realize that the token is a pioneer in some application.
3.- They know the token since its birth and that is why you invest, since you know how it works and you are sure of its success.
4.- You are an experienced trader and you know when to buy and when to sell.

 

[gammarays]

This defi token is just like Bitcoin. It's now a benchmark for defi tokens and will always remain afloat with it's limited supply. How I wish I bought some at the initial stage.

 

[onlyprofits]

This defi token is just like Bitcoin. It's now a benchmark for defi tokens and will always remain afloat with it's limited supply. How I wish I bought some at the initial stage.

I was tempted to do it, but there were many analysts who said that that token was a scam and now you see what turned out. It is in the top 10 of Coinmarketcap.

 

[SCAMEXPOSER]

I guess you meant the YFI token is not the benchmark to DeFi tokens just like bitcoin is to altcoins, this is true , it is still not late to get some especially now that coins aren't growing as such.

 

[onlyprofits]

If that price is the speculative projection for 2024, then it is worth investing in that token, as its developers have proven to be serious people who have revolutionized the DEFI market with their project.

 

[gammarays]

I was tempted to do it, but there were many analysts who said that that token was a scam and now you see what turned out. It is in the top 10 of Coinmarketcap.

Crypto is a risk worth taking. I've resolved to invest in new tokens from reputable platforms. You may lose many but once you gain,it's usually great. Forget about analysts,they just give predictions.

 

[onlyprofits]

Crypto is a risk worth taking. I've resolved to invest in new tokens from reputable platforms. You may lose many but once you gain,it's usually great. Forget about analysts,they just give predictions.

100% agree with you, when you invest in a currency you have to be patient to collect the profits, they can come quickly or not, as long as you have invested in a project that has convinced you

 

[gammarays]

100% agree with you, when you invest in a currency you have to be patient to collect the profits, they can come quickly or not, as long as you have invested in a project that has convinced you

Yes, getting good token projects might be very difficult presently due to the ever increasing amount of new tokens added daily. It's worth it anytime you get a profitable token.