According to analysts, after observing YFI’s rally after launch, YFI’s seven-day run from launch should be treated as the fastest 100x in crypto history. YFI appears to be widely undervalued and may give great returns in the future!
The YFI project has surprised many people now. Its token has risen in value to $ 38,000 and continues to grow rapidly. This is several times higher than the price of bitcoin. If its price collapses, it could have a very negative impact on all DeFi projects.
YFI or not, but we will see more DeFi tokens collapsing soon, YAM token already failed and this will happens with other tokens too. There is no real value behind most of the defi tokens now, defi are overhyped assets that buy only because of the belief that each new token will grow in the same way as the previous ones. As soon as this faith runs out, correction will begin, and for some of the least quality projects, it will happen even earlier, just as YAM fell after the bug was found in their code.
I totally agree with you on this. Many Defi projects will fall hard and when this happened, Defi world will crash and many will regret over hyping Defi projects. Many are just investing blindly now because they want to make 100x in few days. I hope someone can be careful.