When it comes to crypto money, Bitcoin comes to mind directly with its high value. However, the rivalry between Yearn Finance and Bitcoin began to escalate.
Bitcoin competition grows with Yearn Finance
The crypto money market continues to rise rapidly with its decentralized structure in recent years. Especially in the crypto money market, the DeFi concept is storming.
While an overall decline in the cryptocurrency market is expected in April and May, DeFi projects have gone up in the opposite direction. One of these projects was Yearn Finance, a subsidiary of YFI. Yearn Finance, which was seen as worthless in the first place and entered our lives as a one-person hobby project, has been experiencing a very rapid rise recently.
Yearn Finance, which saw a valuation at the level of 3 dollars when it started its life, has reached the limit of 17 thousand dollars. Thus, YFI has surpassed even the most valuable and popular cryptocurrency Bitcoin.
The biggest impact on Yearn Finance’s valuation is that only 30 thousand units will be produced in this currency. Thanks to this, YFI experienced an increase of nearly 5 thousand times. We will see together whether Yearn Finance can maintain its value against Bitcoin in the long term.