YFI Becomes Second Most Expensive Tokens As Price Surges Above $6,000

Although the price of governance token has increased on August 10, still the aggregate cost of the DeFi market is hung around $50 billion.

YFI is a newly-integrated token in the market, still, the governance token of Yearn Finance is experiencing a growth in its price.

YFI Might Topple Bitcoin

As per the reports, in just days after its launch, YFI has become the second most expensive token in the market. Presently, the token is being traded around $6000.

Since the day of its introduction, the token has been showing tremendous growth in the market. Now, even some of the analysts have started predicting that it might topple the value of Bitcoin in the market.

This governance token was released just three weeks ago by Andre Cronje, the founder of the token. 

While launching the token in the market, Cronje, stated,

“YFI was shortlisted on Uniswap and some other few exchanges as well. Within the space of seven days, its worth, however, rose to about35000% as it climbed 3,000 USD.”

Total 30,000 YFI In Circulation

Recently, CoinMarketCap released a report specifying the exact trading value of YFI which is $6,270. The report further mentioned that value of the governance token increases in the market on a daily basis which led it to become the second most expensive crypto token.

The governance token has currently grabbed the 60th position in the industry and its market capitalization has reached around $185,000,000.

Notably, the total amount of YFI tokens circulating in the market is 30,000 only.

According to DeFi Pulse, the Yearn. Finance has become the tenth-largest token in the crypto space and the governance token has a value of $152,000,000 in its protocol.

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