Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$97,794.00
-1.18%$3,414.97
3.13%$256.45
0.47%$658.52
5.27%$1.46
-0.71%$0.428844
5.89%$0.999502
-0.03%$1.055
9.18%$3,415.84
3.11%$0.213475
6.64%$42.03
6.36%$6.42
17.16%$0.50688
69.57%$0.00002585
3.41%$4,055.96
3.24%$97,536.00
-1.25%$8.56
35.60%$17.59
12.16%$507.82
4.03%$3.45
-0.63%$3,416.96
3.20%$0.00002053
1.62%$8.66
2.37%$6.23
10.24%$98.94
9.39%$12.70
5.33%$10.89
14.70%$3,598.43
3.23%$0.151352
11.74%$11.35
12.99%$0.19474
3.81%$0.99872
0.31%$0.569816
21.53%$29.76
6.32%$7.80
8.23%$0.156985
5.96%$1.003
0.00%$513.65
4.86%$0.00004815
-2.89%$1.38
11.73%$24.72
-0.34%$0.04290916
29.11%$0.850146
7.74%$3.32
6.61%$3.67
0.24%$5.38
13.91%$8.22
11.98%$2.08
6.89%$50.61
10.11%$160.37
0.91%$6.91
25.20%$0.851465
0.81%$2.20
2.27%$28.16
14.96%$175.92
6.39%$1.57
15.32%$0.301485
24.49%$0.882102
22.18%$0.00024919
0.27%$0.243922
12.87%$1.00
-0.04%$1.58
6.17%$0.517022
7.51%$3,412.44
2.98%$5.67
7.26%$1.91
12.69%$0.651142
9.92%$3,806.01
3.06%$6.00
-0.83%$0.171038
9.31%$3,585.31
3.33%$97,817.00
-1.07%$2.29
6.15%$1.067
8.50%$1.13
2.25%$97,360.00
-1.09%$0.418528
4.78%$3,507.54
3.30%$101.77
18.50%$1,658.70
1.05%$22.30
26.82%$1.47
-0.71%$70.33
4.55%$11.02
8.48%$11.53
3.86%$0.03367444
17.03%$317.63
0.37%$0.02771241
39.31%$0.5709
21.61%$0.835445
15.97%$0.00000133
15.01%$0.02339869
4.01%$0.02309459
9.84%$0.568521
8.63%$1.34
9.00%$1.17
-2.89%$0.767196
8.47%$1.14
3.42%$97,751.00
-0.97%$3.15
0.12%$271.64
0.32%$1.48
15.64%$14.61
10.00%$6.67
13.15%$12.80
11.00%$0.00000261
-1.48%$0.174516
9.30%$3,402.45
3.02%$5.84
7.30%$1.083
12.48%$0.413665
15.43%$35.90
18.43%$3.93
5.53%$1.39
7.80%$0.511098
19.49%$97,688.00
-0.67%$97,018.00
-0.86%$0.824426
12.91%$1.27
10.13%$0.00004542
3.87%$3,515.42
2.94%$0.433724
5.91%$260.68
0.52%$1.37
4.73%$5.33
6.44%$0.00977689
-0.01%$0.721813
7.52%$0.850732
-6.57%$0.00804468
13.05%$38.82
4.66%$0.054091
18.51%$0.170223
11.22%$0.085258
11.70%$0.220103
20.73%$0.0018163
2.43%$0.999177
0.17%$0.00736002
0.25%$48.16
6.24%$0.259636
10.87%$273.57
4.21%$3,422.07
3.46%$20.34
5.39%$2,720.63
0.44%$2.11
5.35%$1.47
14.69%$3,417.21
3.31%$0.774339
8.54%$1.99
10.70%$0.00945203
1.91%$0.096358
16.01%$0.995378
-0.19%$0.00011699
1.82%$2.18
12.00%$0.013879
6.80%$39.50
81.94%$0.501247
12.75%$3,703.53
3.22%$1.34
8.93%$0.162859
5.66%$0.196746
5.98%$0.285872
13.57%$32.82
1.40%$1.59
12.86%$0.999524
-0.06%$64.36
19.08%$3,414.08
2.91%$0.567891
8.90%$0.074539
14.05%$0.079773
-0.95%$2,730.99
0.81%$0.496091
7.93%$95,908.00
-2.40%$1.071
2.36%$0.570822
9.86%$2.16
10.61%$97,821.00
-1.64%$3,409.25
3.35%$0.00755403
0.61%$0.00000025
2.69%$0.00000051
6.36%$97,670.00
-1.01%$2.67
6.98%$1.00
-0.20%$3,416.26
2.99%$0.0014341
-3.90%$8.46
1.42%$0.070696
6.44%$3.60
-0.89%$0.02439881
15.92%$0.365733
7.46%$1.12
15.30%$3.84
1.60%$0.454987
-10.53%$0.242824
11.48%$0.803794
11.78%$3,667.14
3.54%$0.00834305
10.29%$3,415.96
2.92%$8.77
13.97%$1.049
-1.92%$0.999092
-0.12%$0.01392046
7.05%$3.87
7.69%$0.452046
-0.77%$0.999546
-0.06%$3,565.32
2.41%$11.79
11.59%$1.016
5.52%$0.608807
9.74%$2.04
11.58%$49.41
6.51%$0.00235232
11.10%$1.93
11.40%$0.04375251
5.47%$0.230117
14.84%$1.001
-1.17%$0.00502042
8.05%$0.41161
-2.33%$33.36
14.05%$6.56
-0.01%$1.063
-0.03%$96.13
-2.14%$3.69
7.09%$3.70
10.88%$3,770.07
3.39%$1.015
19.22%$0.457181
3.78%$0.03823886
14.65%$0.384613
-1.13%$0.380937
35.84%$1,964.88
-1.16%$0.377368
5.67%$0.251932
13.90%$0.00
7.78%$3,619.96
3.02%$0.334331
1.58%$4.76
5.67%$97,624.00
-1.20%$1.001
0.00%$0.03834701
-1.21%$0.901852
3.89%$25.85
67.27%$0.00631201
4.87%$0.695088
5.81%$0.02448779
8.93%$1.37
2.35%$0.03543156
5.15%$0.393781
11.53%YFI, the governance token that powers decentralized finance protocol yEarn, or yearn.finance, today leapt past $20,000, surpassing Bitcoin's all-time high.
The cost of a single YFI token is $22,686, as of press time. It has increased by 25% in the past 24 hours, according to data from metrics site CoinMarketCap.
YFI is a governance token, meaning that holders can pledge it to cast their vote on policy proposals that influence the future of the yEarn network. But YFI is also held as a speculative asset, central to something known as "yield farming," where DeFi lending protocols offer governance tokens as incentives for using them.
All this despite YFI token creator Andre Cronje describing YFI in mid-July as “a completely valueless 0 supply token.” He told yEarn users: "Don’t buy it. Earn it."
yEarn is a DeFi platform that lets users compare yields between different DeFi lending protocols and earn extra yields by placing their crypto in "vaults" with other users.
Bitcoin is currently worth about $11,500. That means that the price of a single YFI token is almost double the price of a single Bitcoin. And it's even higher than Bitcoin's all-time high: about $20,000 in December 2017.
One of the reasons that YFI is valued so highly is that its supply is very low. Just 29,962 YFI tokens exist, small potatoes compared to the 18 million Bitcoin in circulation.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.