Rival Crypto Asset Could Surpass Bitcoin Following The Show That YFi Put On

It’s been revealed that the ETH-based YFI printed a new ATH and crypto traders are keeping their eyes peeled on a new DeFi asset.

A few days ago, it’s been reported that the governance token of DeFi protocol Yearn. Finance is now worth significantly more than BTC’s high-water mark of $20,089 set on December 17th, 2017.

YFI launched on July 18th of this year and has surged a staggering 71,084% in just over a month, according to CoinGecko.

At the moment of writing this article, YFI is trading in the red and the coin is priced at $30,936.73.

Crypto analyst Josh Rager says the coin is just getting started, according to the latest reports coming from the Daily Hodl.

The digital asset skyrocketed to a high of $39,306 on Monday –  this was definitely an astronomical growth of over 124,000% since July, when it was trading at $31.65.

New rival DeFi token is analyzed

It seems that YFI entered a correction and the online publication the Daily Hodl notes that there is a pair of influential crypto analysts who are already tracking the movements of a rival DeFi token.

The online publication mentioned above notes that a trader known in the industry as Cantering Clark believes that the new coin may be on its way to five figures.

“At this point, would a 10,000 YFL surprise anyone? It was in the teens two weeks ago. Circulating supply is 47,000 out of 50,000. This thing is going to move a lot more.”

YF Link is a fork of Yearn.Finance.

It’s also worth noting that Josh Rager says he’s also keeping tabs on YF Link (YFL).

Stay tuned to see what’s in store for these DeFi coins these days.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.