Yearn.finance (YFI) is a prominent decentralized finance (DeFi) token known for its innovative yield-aggregation ecosystem. This guide provides a comprehensive analysis of YFI's current market status, historical performance, and essential metrics for investors and enthusiasts.
Real-Time YFI Market Data
Staying updated with the latest market information is crucial for making informed decisions in the volatile cryptocurrency space.
Current Price Performance
- 24-Hour Low: $5,138.00
- 24-Hour High: $5,287.21
- 1-Hour Price Change: -0.97%
- 24-Hour Price Change: -2.54%
- 7-Day Price Change: +2.12%
- 30-Day Price Change: -3.28%
Historical Price Milestones
YFI has experienced significant volatility since its inception, reflecting both the dynamic nature of the DeFi sector and broader market cycles.
- All-Time High (ATH): $93,435.53 (May 12, 2021)
- All-Time Low (ATL): $739.44 (July 21, 2020)
Comprehensive Market Metrics
Understanding key market indicators helps assess a cryptocurrency's overall health and traction.
Supply and Capitalization
- Market Capitalization: $173.728 Million
- Circulating Supply: 33,809 YFI
- 24-Hour Trading Volume: $15.134 Million
- Popularity Rank: #199
Market capitalization is calculated by multiplying the current price by the circulating supply. The trading volume indicates the total value of all YFI tokens traded on exchanges over the past 24 hours, serving as a key liquidity metric.
Understanding Yearn.finance (YFI)
Yearn.finance is a suite of products in the DeFi ecosystem that aims to simplify yield farming. It automatically moves users' funds between different liquidity pools and lending protocols to maximize their returns (APY). The YFI token is the governance token for the Yearn.finance ecosystem, allowing holders to vote on proposals that dictate the platform's future development.
Its innovative approach to automating yield strategies has made it a cornerstone project within the DeFi space. For those looking to delve deeper into advanced yield-farming strategies and how automated vaults work, 👉 explore more DeFi strategies here.
Analyzing YFI's Price History
YFI's price history is a classic example of the extreme volatility found in the cryptocurrency market. After reaching its astounding all-time high in mid-2021 during the peak of the last bull market, the token, like many others, experienced a significant correction.
Several factors influence its price:
- DeFi Market Sentiment: The overall health and popularity of the DeFi sector.
- Platform Performance: The Total Value Locked (TVL) in Yearn.finance vaults and the yields they generate.
- Governance Proposals: Major votes and updates to the protocol can impact investor confidence.
- Broad Crypto Market Trends: Bitcoin and Ethereum's price movements often trickle down to altcoins like YFI.
Frequently Asked Questions
What is the current price of YFI?
The price of YFI fluctuates constantly due to market dynamics. Real-time prices are available on various cryptocurrency tracking websites and exchange platforms, which provide the most up-to-date valuation against the US Dollar and other currencies.
What does market cap mean for YFI?
Market capitalization, or market cap, represents the total value of all circulating YFI tokens. A market cap of $173.728 million means that is the consensus value the market currently places on the entire available supply of the token.
What was the highest price ever recorded for YFI?
Yearn.finance reached its all-time high price of $93,435.53 on May 12, 2021. This peak occurred during a period of immense growth and excitement in the decentralized finance sector.
How much YFI is currently in circulation?
The current circulating supply of YFI is 36,666 tokens. It's important to note that YFI has a finite supply cap, which contributes to its economic model.
What is the 24-hour trading volume for YFI?
The global 24-hour trading volume for YFI is approximately $15.134 million. This volume represents the total amount of YFI bought and sold across all major exchanges in a single day.
What factors could affect the future price of YFI?
The future price of YFI depends on several factors, including the adoption of its yield-aggregating vaults, the success of new product launches, overall DeFi market trends, broader cryptocurrency market cycles, and the outcomes of community governance proposals. To stay ahead of market movements, 👉 discover real-time market analysis tools.