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Yearn.finance (YFI) price trades at an all-time high price of $9,200, up 30% in the past 24 hours alone

After a strong 40% correction to its listing on Binance, Yearn.finance (YFI) is back in the spotlight as the altcoin has more than doubled in the past three days. Not long ago, YFI price was trading at an all-time high of $ 9,200, up 30% in just the past 24 hours.

The YFI price rose above $ 9,000 but remains undervalued

YFI’s upside momentum comes as the decentralized financial space continues to climb, fueled by the launch of Curve Finance’s token, CRV. YFI’s latest rally to an all-time high is just $ 10,000.

According to DeFi Pulse, the amount of locked-out values ​​in Yearn.finance has reached an all-time high of $ 602.9 million due to the launch of the CRV. The launch of CRV is encouraging investors to lock their capital in the Yearn.finance ecosystem. The value of the YFIs locked in Yearn.finance has increased 300% in just the past five days.

Although YFI has risen more than 100% in recent days, there are some who claim that the coin is still undervalued. This happens despite the fact that YFI is a cryptocurrency launched just a month ago at a price tag of $ 3.

Some commentators focused on Yearn.finance claim that:

“If YFI is priced as Compound’s COMP token is priced then this Altcoin would be worth over $ 21,000 – about 130% higher than the current price.”

With imminent growth in the value of locked crypto assets in Yearn.finance, along with developers rolling out new products for the platform, YFI is likely to go even higher than it is today. By comparing YFI’s valuation with other DeFi tokens like Aave’s LEND, Balancer’s BAL and Maker’s MKR, it can be said that YFI is essentially 50% lower priced.

The community’s sentiment about this altcoin has reached the point where YFI token holders are seriously promoting a “token split” as the cryptocurrency surpasses the price of one Bitcoin, currently at $ 12,300.

This involves “stock split” in which a company increases the number of shares in it, without diluting its shareholders. Tesla recently did a one-to-one split, causing its price to spike even though the split doesn’t affect any intrinsic aspects of the electric car company’s business.

YFI proponents try to make the same wave of hype by promoting this “token split” when the asset exceeds the value of one BTC.

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