Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: TERMINO on September 14, 2020, 02:51:18 PM
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DeFi tokens seems not affected by Bitcoin price dump.
YFI price $40,176.07 at rank #20 with market capitalization $1.2 B.
If the trend of DeFi will not subside do you think it is possible that YFI will become the #1 cryptocurrency?
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I don't think YFI could snatch the top position. I Believe it would still BTC that would reign the crypto world. YFI supply is just very low and very prone to manipulation by the whales. YFI hypes are attracting traders and thats the reason why the price is still not decreasing.
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This is amazing YFI continues to show its prowess, YFI was still in position # 23 and now it is in position # 20.
It really worries about the position of the other top ranking coins, but if to beat Bitcoin I don't think it's possible.
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Despite such rapid price growth, the YFI token has no chance of becoming the first among the cryptocurrency. The high price is all temporary. Moreover, today the price of this token has dropped to $ 33,622, and the token itself has moved to 22nd position in the CoinMarketCap table.
The YFI token has one billion dollars of capitalization so far. This is very little to qualify for prize places among other types of cryptocurrencies.
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YEarn Finance (YFI) crypto asset prices soared 330% to IDR 210 million in a matter of days. Now YFI is more expensive than the most popular cryptocurrency bitcoin which has reached IDR 180 million per 1 bitcoin.
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YFI became the first-ever altcoin to surpass the price of Bitcoin.The sentiment around YFI’s vertical rally since early August remains impressive. Some believe YFI is primed for a pullback. Others foresee more growth potential over the longer term.
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I don't think YFI could snatch the top position. I Believe it would still BTC that would reign the crypto world. YFI supply is just very low and very prone to manipulation by the whales. YFI hypes are attracting traders and thats the reason why the price is still not decreasing.
In order for YFI to be able to overtake bitcoin in terms of capitalization, the 30,000 coins that YFI has will not be enough. The capitalization of YFI is now equal to 150 million dollars, while BTC is equal to 200 billion dollars.
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YFI may be the top price of cryptos now a days. But i am not interested in YFI. I always support btc. It is accepted all over the world. Though the price is not so high but it is a permanent king of the cryptos.
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Yes, YFI coins are three times more expensive than BTC. I don't know who can beat the popularity of BTC. However, since its total supply is less. So the popularity of btc cannot be underestimated. Because there is use all over the world. So I don't think YFI can take its place.
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DeFi tokens seems not affected by Bitcoin price dump.
YFI price $40,176.07 at rank #20 with market capitalization $1.2 B.
If the trend of DeFi will not subside do you think it is possible that YFI will become the #1 cryptocurrency?
No, of course it won't. In order to become the leader of the cryptocurrency, one high price is not enough. A lot more is needed, including one of the highest capitalization levels, and good functionality, and the support of a strong community. The YFI token is only two months old, its current price is more indicative of the expectations of investors for further price growth of this token. If it stops growing and does not meet expectations, then after some time its price will be much lower than the price of Bitcoin. So let's wait a while.
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No no.
Currently BTC's capitalization is 200 times larger than YFI's.
BTC is the king of crypto, while YFI is a DeFi token, at the moment it is increasing in price because of its large profitability, however this momentum, in my opinion, is unsustainable.
If YFI leads the world of crypto then the world of crypto will be destroyed when people lose the notion of the true value of crypto in the economy.
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DeFi tokens seems not affected by Bitcoin price dump.
YFI price $40,176.07 at rank #20 with market capitalization $1.2 B.
If the trend of DeFi will not subside do you think it is possible that YFI will become the #1 cryptocurrency?
Today YFI ranked according with daily trading volumes
Top DeFi Tokens by Market Capitalization
Rank Name Price
1 LINK Chainlink $9.54
2 WBTC Wrapped Bitcoin $10,914.72
3 DAI Dai $1.01
4 YFI yearn.finance $25,222.26
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YFI's performance is indeed very good, prices have increased and trading volume is large. But to be no 1 and beat Bitcoin I think it's impossible
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Since its appearance, YFI has indeed taken over the attention of many people, its price has increased very sharply and also the position of YFI has risen quite high as well. YFI might be able to beat the position of many Altcoins, but I'm not sure YFI can beat Bitcoin position. Bitcoin remains number one, even though the Bitcoin price can be overtaken by YFI.
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DeFi tokens seems not affected by Bitcoin price dump.
YFI price $40,176.07 at rank #20 with market capitalization $1.2 B.
If the trend of DeFi will not subside do you think it is possible that YFI will become the #1 cryptocurrency?
Bitcoin marketcap is now $193B where YFI $740M. Can you imagine the difference between the two? To become number one crypto in marketcap, YFI price should be at leaset $5M per YFI. Is it possible for YFI? I hope and sure it is not possible for YFI to be the top coin.
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DeFi tokens seems not affected by Bitcoin price dump. YFI price $40,176.07 at rank #20 with market capitalization $1.2 B. If the trend of DeFi will not subside do you think it is possible that YFI will become the #1 cryptocurrency?
I am sure that the DeFi movement can be a very good trend as this will really be a very good option for people who are already tired of the traditional financial set-up. However, we should always remember that everything here are very experimental, meaning to say that there will be big success and there can be big failures soon. There is a big potential for YFI to be a big cryptocurrency platform but there is no way for that to eventually overtake Bitcoin in terms of market cap.
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Yearn.finance is a wonderful profitable DeFi projects which already created a revolutionary changes in cryptocurrency market cap. It already passed the bitcoin price mark line. It price increased more than bitcoin price. Undoubtedly bitcoin is the best online Crypto in the world cryptocurrency market cap but I think yearn.finance will be a good competitor of bitcoin. But it is very hard to replace bitcoin place.
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A few days ago YFI (yearns Finance) created a miracle on cryptocurrency market because yearn.finance already replaced the bitcoin price hitted $42000+ but position 31 in coinmarketcap. But I think YFI never replace bitcoin but anyhow.
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DeFi tokens seems not affected by Bitcoin price dump.
YFI price $40,176.07 at rank #20 with market capitalization $1.2 B.
If the trend of DeFi will not subside do you think it is possible that YFI will become the #1 cryptocurrency?
Well done bro. DeFi based projects YFI already hyped in cryptocurrency market cap but some people makes assets some got losses.
I don't think YFI will be number one cryptocurrency in the world cryptocurrency market.
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Although YFI is able to keep itself in a good side unlike the others who can't resist the chain effect of bitcoin from it's rise and fall this will not enough to overthink that it can be the number one crypto.
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DeFi tokens seems not affected by Bitcoin price dump.
YFI price $40,176.07 at rank #20 with market capitalization $1.2 B.
If the trend of DeFi will not subside do you think it is possible that YFI will become the #1 cryptocurrency?
I don't believe that yearns Finance will be number one globally accepted cryptocurrency in the world cryptocurrency market. But I think blockchain never build up YFI platform at all. Bitcoin is a king of cryptocurrency and still in future. Bitcoin is a global accepted cryptocurrency.
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It's not that easy for YFI to become Cryptocurrency number 1, even though YFI's price led the Crypto market. We see Crypto ranking by market cap volume, and Bitcoin capitalization volume is much higher than YFI. Bitcoin is still number one!
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Crypto-focused investment company Polychain Capital has purchased YFI of about $ 5 million, and there are some projects that we will consider important in the portfolio of this company.In fact, YFI will return to its previous levels.
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DeFi tokens seems not affected by Bitcoin price dump.
YFI price $40,176.07 at rank #20 with market capitalization $1.2 B.
If the trend of DeFi will not subside do you think it is possible that YFI will become the #1 cryptocurrency?
Already now we can confidently say that the YFI token will never be the # 1 cryptocurrency. Most likely, it will not rise in price either to its previous price record of more than forty thousand dollars. Recently, the YFI token has dropped very much in its price and especially in the level of capitalization. Now that bitcoin and other cryptocurrencies have begun to actively rise in value, the YFI token continues to fall.
Today we see that the price of bitcoin has risen to $ 12,436, ethereum to $ 384, and the YFI token, on the contrary, fell to a record $ 13,273. Moreover, its capitalization also fell to $ 397 million for the first time. After a $ 1 billion capitalization, this is impressive.