Značka: Yearn Finance

This little-known DeFi crypto token has rallied over 800% in a month

A new and relatively unknown DeFi token called BarnBridge (BOND) has rallied over 800% to reach $20 on July 26.The BOND price surge comes more than a month after bottoming out at around $2.19. In comparison, top coins, Bitcoin (BTC) and Ether (ETH) have only rebounded by 18% and 54% in the same period, respectively.BOND/USD daily price chart. Source: TradingViewAnother pump and dump?BarnBridge is a cross-chain risk management protocol that offers a suite of composable DeFi products for investors to hedge against interest rate fluctuations and price volatility.Examples include SMART Yield — a product that enables investors to secure fixed rate yields from the debt pools of other projects such as Aave, Compound, Cream, or Yearn.finance — and SMART Exposure, which offers investors tools to rebalance portfolios. BarnBridge SMART products explained. Source: Official WebsiteBarnBridge’s latest product, SMART Alpha, allows investors to hedge against price fluctuations and provides them leverage for bullish theses. Meanwhile, BOND serves as a governance token to the Ethereum-based DAO representing BarnBridge.On the surface, the latest BOND price pump should reflect a booming interest in risk-trenching protocols, primarily when many projects in the DeFi sector have failed. But the token’s gains appear largely speculative if one focuses on its trading volume concentration.Notably, more than 50% of BOND volumes have originated at Binance in the past 24 hours, according to data tracked by CoinMarketCap. At the same time, the daily trading activity of the benchmark BOND/USD pair has been declining during the price pump, as shown below.BOND/USD daily price chart featuring price-volume divergence. Source: TradingViewThe price-volume divergence suggests that fewer investors have been behind the BOND price pump, increasing the chances of a sharp correction in the coming days or weeks.Next BOND price targetsDrawing a Fibonacci retracement graph from BOND’s swing high of $37.50 to its swing low of $2.18 churns out a sequence of potential support and resistance levels, as shown in the weekly chart below.BOND/USD weekly price chart. Source: TradingViewBOND has been retreating after testing $24 as its interim resistance, and now anticipates to undergo an extended correction toward $15.60, down 17.5% from July 26’s price. A further breakdown risks crashing the price to $10.50, or a 45% decline.Related: Institutional ETH sentiment turns positive after 11 weeks of outflowsConversely, a rebound above $24 could have BOND test $30 as its next upside target. Another breakout move could shift the target to $37.50, up 95% from current price levels.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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3 red flags that signal a crypto project may be misleading investors

Satoshi Nakamoto left a large pair of shoes to fill after releasing the code for Bitcoin (BTC) to the world, helping the network get established, then vanishing without so much as a trace. Over the years, the crypto ecosystem has seen many developers and protocol creators rise in stature to become crypto messiahs for faithful holders who eventually have their best-laid plans end in catastrophe when the protocol is hacked, rugged or abandoned by whimsical developers.2022 is hardly halfway complete and the year has already seen a particularly bad stretch of good intentions gone awry, which have collectively helped plunge the market into bear-market territory. Here’s a closer look at each of these instances to help provide insight into how similar outcomes can be avoided in the future. Some developers are anonymous for a reasonSatoshi may have successfully remained anonymous while launching Bitcoin, but in most instances since then, having anonymous developers has turned out to be a red flag. Many anonymous developers cite personal safety reasons for taking this route. While this is a valid reason in some cases, sometimes anon developers are hiding from previous misdoings or pre-planning to cover their tracks in the case of future offenses. A flagrant example of this was Squid Game (SQUID), a Netflix-show-inspired memecoin that rallied 45,000% within a few days after launch, only for traders to realize that they were unable to sell the tokens on any exchange.Investors eventually discovered that all the developers were anonymous and that all social media channels were blocked from comments. The crypto community has grown to be rather distrustful of anonymous developers and this can be seen in the negative reaction to the revelation that the founder of the Azuki nonfungible token (NFT) project was involved with three other NFT projects that were ultimately abandoned, leaving their holders with little to show except worthless jpegs. Another instance of an anonymous developer going rogue occurred in 2022 when it was revealed that the anonymous Wonderland (TIME) treasury manager @0xSifu turned out to be an alleged financial criminal, along with QuadrigaCX co-founder Michael Patryn.1/ Today allegations about our team member @0xSifu will circulate. I want everyone to know that I was aware of this and decided that the past of an individual doesn’t determine their future. I choose to value the time we spent together without knowing his past more than anything.— Daniele never asks to DM (@danielesesta) January 27, 2022The revelation of this connection resulted in the collapse of several popular projects including Wonderland and Popsicle Finance, while a significant amount of criticism was directed at Abracadabra.Money creator Daniele Sestagalli. Prior to the @0xSifu revelation, all three protocols were seeing increased adoption, but , each protocol is a mere shadow of its former success.Having anonymous developers removes accountability from the equation and is increasingly becoming a red flag when dealing with multi-million dollar cryptocurrency protocols. Beware of cult personalitiesFinance is no stranger to cult personalities and crypto is not immune to this phenomenon.Long-time crypto pundits will recall Roger Ver being called “Bitcoin Jesus” and him leading the charge to fork Bitcoin Core and create Bitcoin Cash (BCH). Billionaire Dan Larimer also comes to mind, and investors will recall his helping EOS (EOS) raise $4 billion during the initial coin offering (ICO) boom of 2017 to 2018. In each instance, it was a fervent flock of followers that propelled each project forward. Neither BCH nor EOS managed to reclaim their all-time highs during the 2021 bull market despite all the hype about their future when first launched. This is possibly because a portion of the hype is centered around the personalities behind the projects. A more recent example includes the collapse of Fantom ecosystem token prices after decentralized finance (DeFi) developer Andre Cronje deactivated his Twitter account and informed the community that he was leaving the crypto space entirely.Cronje had become so popular that many people would buy a token just because he was involved with it, and when he left, many of these investors dumped their holdings, which negatively affected the tokens’ prices. Previously, Fantom’s brand/marketing was Andre Cronje.Now we don’t have that identity.It’s not a suggestion to focus on branding/marketing right now, it’s an absolute neccessity.— Jack The Oiler (@Jacktheoiler) May 7, 2022

While Cronje was doing what he thought was right and had no ill intentions toward the community, his actions appear to have negatively affected the crypto market due to his popularity within the community and the dedication of his followers. The main takeaway is to be vigilant when a developer is seen as incapable of doing wrong and remember that cult-like followings can have outcomes that ripple beyond their community. Related: Court documents reveal Do Kwon dissolved Terraform Labs Korea days before LUNA crashDecentralization requires involving the communityAnother red flag to be on the lookout for is decentralized autonomous organizations (DAOs) and DeFi protocols that operate in a manner that appears to be more centralized than their name would suggest. It’s common for many protocols to claim that they are decentralized, yet they rely on centralized service providers like Amazon Web Service to ensure that they function properly. Due to a major AWS outage, dYdX exchange is currently down. We are experiencing greater latency across services and impaired functionality with endpoints not working and the website not loading. For the most up to date status updates, subscribe to: https://t.co/EvjpZdRyby— dYdX (@dYdX) December 7, 2021

Another pertinent example is when a project that claims to offer token holders governance rights makes a major protocol decision without consulting the community for feedback and approval. The move by Terra to add BTC to its treasury as collateral for the TerraUSD (UST) stablecoin made headlines and was lauded by many, but the move was never put to a vote within the Terra community to see what token holders thought. While there is a good chance that the plan still would have been approved and the collapse of Terra still would have occurred, the blame might have fallen more on the community and less on Do Kwon, the project’s leader. It’s also worth mentioning that Do Kown had developed quite the cult following and was frequently insulting a variety of people on Twitter.One of the main tenets of the cryptocurrency sector is adherence to decentralization and failure to do so often leads to a compromised network and dissatisfied investors.Want more information about trading and investing in crypto markets?The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Yearn Finance advocates for the adoption of ERC-4626 tokenized vault standard

Following the successful deployment of twenty-five previous Ethereum Request for Comments (ERC) standards, including the industry-recognized ERC-20 designed for tokens, ERC-721 for nonfungible tokens (NFTs), and the single smart contract multi-token ERC-1155; the newly-passed ERC-4626 is gaining traction within the Ethereum community for its purported yield-bearing benefits.Referred to as the “tokenized vault standard,” ERC-4626 is set to be implemented at the next Ethereum fork upgrade following approval by the developers within Ethereum’s governance procedure.Serving as an addition to ERC-20 — and considering the utilization of under-review EIP-2612 for the approval shares user experience (UX) — the ERC-4626 standard is expected to enact wide-scale benefits across Ethereum’s decentralized finance (DeFi) ecosystem, enhancing the composability and accessibility of yield-bearing vaults across multiple networks.As an application programming interface (API), much of the implementation will occur behind the scenes within the network’s operation, and therefore will not be particularly visible on the user-end dashboard, but will be immensely valuable for their participating experience.One of the primary attractions to interacting with DeFi protocols for the retail market is their positively disproportionate yield generation in comparison to traditional banking bond accounts and savings offerings.Yield-bearing assets such as SushiSwap’s xSushi, Aave’s aToken, or Yearn Finance’s yToken, enable users to stake the network’s native tokens for a wrapped version, benefiting from both the acquired liquidity and interest earned.However, as Yearn Finance succinctly points out, “to build a single app on top of DeFi’s yield-bearing tokens, you have to write dozens of complex, error-prone adapters that can handle each unique variation”, as well as that if you “build an app on top of one ERC-4626 vault… it will work for all other ERC-4626 tokens.”5/ Yearn V3 + ERC-4626 = inevitableContributors are already working hard implementing the standard for Yearn’s V3 vaultsSo are devs at @AlchemixFi, @balancer, @RariCapital, @feiprotocol, @OpenZeppelin and elsewherePerhaps one day, we’ll even see a Erc4626 tab on @etherscan— yearn.finance (@iearnfinance) April 5, 2022Related: DeFi ‘Godfather’ Cronje quits as TVL and tokens tank for related projectsThe concept for ERC-4626 was initially pitched on Dec. 22 as an Ethereum Improvement Proposal (EIP) by five authors led by the founder of Fei Protocol, Joey Santoro.According to an anecdotal story from co-author t11s, the 4626 number was birthed during an exercise workout, noting that the melodic rhyming pattern sounded more appropriate for the title of their invention than the more monotonous 4700 for instance.Fundamentally viewed as a protocol standard designed to optimize and unify the technical parameters of yield-bearing vaults, the proposition swiftly sparked discussions, suggestions and rebuttals on open-source development platforms Github, Ethereum Magicians and crypto native social media Twitter, with a largely positive consensus noted throughout the community.One responder named albertocuestacanada highlighted a concern with the potential impact of language regarding the calculateShares required to equal sharesAmount section, arguing that this would prevent vaults from implementing deposit or withdrawing fees. Santoro soon revised this section “in favor of a better invariant related to it returning the same value as a mint/deposit call in the same transaction.”The ERC-4626 Tokenized Vault Standard is ready for final review Get your giga chad brains churning on how this standard will revolutionize DeFi Be sure to share any proposed changes on the thread: https://t.co/ArchwpUNn4Here is a summary of the proposed design — Joey ’s ERC-4626 (@joey__santoro) January 12, 2022

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Finance Redefined: DeFi ‘Godfather’ Cronje quits, CAKE launches $100M venture arm and more

The decentralized finance (DeFi) ecosystem had quite an eventful week with several new developments and price action. The week started with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive drop in prices of projects that Cronje was associated with.CAKE DeFi launched a new $100 million venture fund to support Web3 initiatives, ThorChain spiked over 34% after activating synthetic assets and Polygon network suffered an extended outage post new upgrade that impacted its price momentum.DeFi “Godfather” Cronje quits as TVL and tokens tank for related projectsDeFi architect, Fantom Foundation technical adviser and Yearn.finance founder Andre Cronje has left the decentralized finance space reeling after deactivating his Twitter account.Cronje’s long-time colleague at the Fantom Foundation Anton Nell stated in a Sunday tweet that both he and Cronje were leaving the crypto space entirely. However, concerns arose about the fate of roughly 25 decentralized applications (DApps) and services they have been operating up to now. Among the affected apps and services are yearn.fi, keep3r.network, multichain.xyz, chainlist.org, bribe.crv.finance and the new solidly.exchange.Continue readingCake DeFi launches $100M venture arm for Web3, gaming and fintech initiativesSingapore-based decentralized finance services firm Cake DeFi announced the launch of a $100 million venture arm dedicated to serving as accelerators for Web3, gaming, nonfungible tokens (NFT) and other crypto initiatives.The newly launched $100 million venture arm, Cake DeFi Ventures (CDV), will fund crypto startups that complement the company’s core business. According to Cake DeFi, the venture firm “will be focused on investing in tech startups across Web3, the metaverse, the NFT space, gaming, esports and fintech spaces.”Continue readingTHORChain spikes by 34% after activating synthetic assetsThe price of the native asset for cross-chain decentralized exchange THORChain (RUNE) has spiked by 34% in a day following the activating of synthetic assets on the network.THORSwap Finance highlighted the advantages of the synthetic assets via a Thursday blog post, noting that “synths have great utility for traders and arbitrageurs, as they can be transacted nearly instantly and at a fraction of the cost compared to native L1 swaps.”Continue readingPolygon network suffers from extended service outage after upgradeLayer-2 Ethereum scaling solution Polygon has not produced a new block for over 11 hours, with developers attributing the issue to a technical upgrade on the network.On March 10, 4:20 pm UTC, Polygon network developers notified users on the project’s forum that there would likely be downtime starting at about 5:50 pm UTC due to maintenance required on one of the network’s three layers. A recent upgrade is thought to have caused an error in the network’s ability to achieve consensus.Continue readingDeFi market overview:Analytical data reveals that DeFi’s total value locked has maintained a similar value to the last week with a minor increase, reaching a figure of $111 billion.Data from Cointelegraph Markets Pro and TradingView reveals that DeFi’s top 100 tokens by market capitalization performed reasonably well across the last seven days.The weekly performance of the majority of the DeFi tokens has remained flat, with most of them either traded in green/red with a single-digit percentage change. Terra (LUNA) maintained its dominance for the third week in a row, rising by over 8% in the past week, rising to a new all-time high above $104. Ankr (ANKR) registered a 7% gain over the past week, followed by ThetaFuel (TFUEL) with a 1% overall gain.Before you go!A week that didn’t see much in terms of price action, but the likes of ThorChain and LUNA continued to defy the market trends aided by their synthetic asset ecosystem. The gas fee on Ethereum has plummeted to a nine-month low. Data shows that the average gas price on Ethereum has been dropping rapidly since the start of the year, plunging from 218 Gwei on Jan.10 to 40.82 on Wednesday.Thanks for reading our summary of this week’s most impactful DeFi developments. Join us again next Friday for more stories, insights and education in this dynamically advancing space.

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Yearn.finance risks pullback after YFI price gains 100% in less than 3 weeks

Yearn.finance (YFI) looks poised for a price correction after rising five days in a row to approach $42,000. Notably, an absence of enough buying volume coupled with overbought risks is behind the bearish outlook.The YFI price rally so farYFI’s price surged by a little over 47% in five days to $41,970 as traders rotated capital out of “top-cap” cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) and looked for short-term opportunities in the altcoin market. #DeFi assets are showing some nice signs of growth to kick off 2022. $YFI, $UNI, and $AAVE are all ticking up nicely thus far with the first Monday of the year looking #bullish for several #altcoins. https://t.co/8ujolCvt5z pic.twitter.com/ASpf1dUbtn— Santiment (@santimentfeed) January 3, 2022Yearn.finance was among the beneficiary of the so-called capital migration, given its value against BTC and ETH rose almost 47% and 41.50%, respectively, in just five days. Meanwhile, at the core of traders’ sudden buying interest in the YFI markets was a token buyback program.YFI/ETH and YFI/BTC daily price performances after token buyback program announcement. Source: TradingViewOn Dec. 16, the Yearn.finance team announced that it had purchased more than $7.5 million worth of YFI tokens from the open market at an average price of $26,651 per unit. It also revealed $45 million extra cash in its treasury that it would use to continue its YFI buyback spree.Additionally, the Yearn.finance community also proposed that the YFI treasury direct a portion of the token buyback to reward YFI holders who actively participate in Yearn Governance. The proposal (full details here) is currently in its voting phase.1/8Since the cat is out of the bag here:-Yearn has started massively buying back YFI.-They are revisiting their tokenomics to do a fee distribution to holders, currently looking at veCRV model and xSushi models.-The ratios are insane. https://t.co/CzuHhbNuhx— Adam Cochran (@adamscochran) December 16, 2021

YFI’s price surged by more than 100% against the United States dollar after the token buyback announcement.YFI’s price correction risksHowever, YFI’s trading volume fell despite the rally, suggesting the low conviction among traders in its upward movement. YFI/USD daily price chart featuring price-volume divergence. Source: TradingViewTypically, a bearish divergence between price and volume leads to either correction or consolidation until conviction increases. As a result, the likelihood of YFI at least pausing its ongoing price rally is high, with its daily relative strength index also entering its overbought zone above 70, a sell signal.Related: YFI price gains 46% in just four days after Yearn.finance’s $7.5M buybackAdditionally, the Yearn.finance token’s latest price rally has brought it closer to a known inflection zone near $40,000, as shown via the Fibonacci retracement graph in the chart below.YFI/USD three-day price chart featuring Fib entry and exit levels. Source: TradingViewIn detail, the 0.618 Fib line near $40,113 has been limiting YFI’s upside intraday attempts. The same level was instrumental in stopping the token’s price rally between October and November, which later led YFI’s price to its 12-month low near $17,000.Nonetheless, if bulls manage to push YFI’s price above the 0.618 line decisively, they may also take the token out of its multi-month range defined by about $25,500 as support and $40,000 as resistance. In that scenario, YFI’s next upside target may move toward the 0.5 Fib line around $51,000.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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YFI, HXRO and AR post gains even as Bitcoin price dips to $45.5K

Bitcoin (BTC) bulls took another beating on Dec. 17 as a midday onslaught dropped the price to $45,500. The price did manage a quick bounce back to $47,000 but sweeping a new daily low could be a sign that additional downside is in store.Amid the wider market downturn, several altcoins provided weary traders with a source of refuge as token buybacks and increased network activity helped bolster their prices and provide shelter from the storm. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Yearn.finance (YFI), Hxro (HXRO) and Arweave (AR). YFI benefits from token buybacksYearn.finance is a decentralized finance (DeFi) aggregator service that utilizes automation to allow investors to maximize their profits from yield farming. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $18,844 on Dec. 15, the price of YFI shot up 56.48% to a daily high of $29,488 on Dec. 17 as its 24-hour trading volume spiked 220% to $844 million. YFI/USDT 4-hour chart. Source: TradingViewThe sudden surge higher in YFI comes as the project revealed that it has been buying back tokens since November after the community voted to improve the tokenomics for YFI. To date, the protocol has purchased 282.4 YFI at an average price of $26,651 and has indicated that further buybacks will be conducted in the future using funds from the project’s $45 million treasury. Hxro features on the TD Ameritrade NetworkHxro is a cryptocurrency options trading protocol that operates on the Ethereum (ETH) network and offers users access to popular cryptos including BTC, Ether, Dogecoin (DOGE) and Solana (SOL). VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for HXRO on Dec. 14, prior to the recent price rise. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. HXRO price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for HXRO elevated into the green zone on Dec. 14 and reached a high of 77 around 45 hours before the price increased 13.2% over the next day. The boost in HXRO price comes after the co-founder of Dan Gunsberg was featured on the TD Ameritrade Network’s Market on Close podcast discussing the future of Bitcoin and the evolution of the wider cryptocurrency ecosystem. Related: New survey reveals 83% of millennial millionaires now own cryptoArweave sets a new daily transaction recordArweave is a decentralized storage network designed to be the first truly permanent information storage network that is backed by a sustainable endowment. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for AR on Dec. 14, prior to the recent price rise. VORTECS™ Score (green) vs. AR price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for AR climbed into the dark green zone on Dec. 14 and hit a high of 77 around sixteen hours before the price increased 40.78% over the next two days. The move higher in the price of AR comes as the transaction count on the protocol’s Bundlr Network hit a new all-time high of 2.19 million transactions which marked a 50x increase in the maximum daily transactions from less than a year ago. The overall cryptocurrency market cap now stands at $2.192 trillion and Bitcoin’s dominance rate is 40.6%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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YFI price gains 46% in just four days after Yearn Finance's $7.5M buyback

Yearn Finance (YFI) emerged as one of the best performers in the crypto market this week, rallying by over 46% in just four days to reach a two-week high above $29,100.YFI/USD daily price chart featuring its four-day bull run. Source: TradingViewThe gains surfaced primarily as Yearn Finance revealed that it has been buying back YFI en masse since November in response to a community vote to improve the YFI token’s economics. The decentralized asset management platform purchased 282.40 YFI at an average price of $26,651 per token — a total of over $7.50 million.Furthermore, Yearn Finance noted that it has more than $45 million saved in its Treasury and has “stronger than ever” earnings. As a result, it would — in the future — could deploy its income to buy back more YFI tokens.Now that the Treasury has more than $45 million saved up and with earnings stronger than ever, expect much more aggressive buybacks. What will you do anon?2/— yearn.finance (@iearnfinance) December 16, 2021Adam Cochran, partner with activist venture fund Cinneamhain Ventures, noted that Yearn Finance makes about $100 million per year in just fees collected from Vaults, its flagship smart savings account service that maximizes the value accrual of deposited digital assets.The analyst further highlighted that Yearn had attracted more than $5 billion in total value locked (TVL) against a market capitalization of $781 million. That being said, the Yearn Finance protocol earns one of the highest fees per TVL, giving it enough liquidity to sustain its token buyback strategy in the future.The total value locked inside Yearn Finance vaults. Source: DeFi LlamaYFI undervaluedCochran further compared Yearn Finance’s profit-to-sales (P/S) and profit-to-earnings (P/E) ratios with another “payout-based” protocol Curve, highlighting that YFI remained undervalued compared to Curve’s staking token, CRV.In detail, the P/S ratio indicates that how much investors are willing to pay for a company’s stock based on its sales per share. The P/E ratio shows investors’ decision to buy a stock based on the company’s past or future earnings. In both cases, a lower reading indicates an undervalued stock.”Their P/S ratio is 3.6x and their P/E is 7.9x,” wrote Cochran about Yearn Finance, adding: “Those numbers for other payout-based protocols like Curve are 71.9x and 143x, respectively. So around times the multiple valuations for someone who has fees on.”7/8Outside of holding $ETH, $YFI is actually my top pick for all of 2022.I’m stupidly long on Yearn both in terms of my capital but also investing my time as I expect to spend a lot of time building here.— Adam Cochran (@adamscochran) December 16, 2021

YFI to $40K next?While Yearn Finance’s decision to buy back over $7.50 million worth of YFI helped boost its prices, the cryptocurrency also received an additional upside boost from a historical accumulation range.The area between $18,500 and $20,000 has been attracting buyers on each YFI price dip since November 2020. It also held up against bears in September 2020, leading to a price rebound toward $40,000.YFI/USD three-day price chart featuring Fakeout range. Source: TradingViewIf YFI holds the $18,500-$20,000 range as support, and further rises above $24,580, or the 0.786 Fib line of the Fibonacci retracement graph in the chart above, its next upside target will be $40,000, a level coinciding with the 0.618 Fib line.Related: As Yearn.Finance’s yield vaults grow, ‘crop’ projects define boundariesPopular crypto trader Cuban noted that YFI’s fully-diluted valuation (FDV) is under $1 billion, which is “criminal considering the potential and the team behind.” He added:”Macro crypto wise, I believe we have a big Q1 coming up fundamentally and a lot of people gonna be left on the sidelines after de-risking EOY.”The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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