Autor: dot-traders

The YFII price soared to the highest point since June 25th of this year. The token surged to a high of $1,700, which was about 385% above the lowest level in June this year. The token has a market cap of more than $66 million. 

What is DFI.Money?

DFI.Money is a relatively small DeFi platform that is in the yield farming sub-sector. The platform allows people to earn strong interest by just investing in high-yield tokens. It was created after a hard fork of Yearn Finance, one of the leading platforms in the industry. 

It automatically configures the smart contract financial platform with the best DeFi mining income market. It has low transaction fees and the ability to move tokens across multiple vaults. D

DFI.Money is powered by the YFII token. Users can earn it by contributing liquidity to the ecosystem. It does a similar thing to what UNI does for the Uniswap ecosystem. 

YFII price has bounced back recently as investors focus on the ongoing recovery of the DeFi industry. Recently, the total value locked in the sector has surged to more than $83 billion. While this is lower than the all-time high of almost $250 billion, it is much higher than this month’s low of about $70 billion. 

Investors appear to believe that many DeFi platforms will thrive now that the industry has gone through a stress test. The test has seen companies like Voyager Token and Curve go bankrupt. Therefore, there is a close comparison of what happened during the dot com bubble and the fact that many companies thrived afterward. 

YFII price prediction 

The four-hour chart shows that the YFII price has been in an upward trend in the past few days. It has managed to rise by more than 385%, making it the best-performing coins in the industry. It has moved above the important resistance level at $1,470, which was the highest point on July 19th

YFII is above the 25 and 50-day moving averages while the Relative Strength Index has moved close to the overbought level. Therefore, the coin will likely keep rising now that it has moved above the resistance at $1,470.

The post YFII price prediction: Does DFI.Money Have More Upside? appeared first on CoinJournal.

The CRV price has been in a strong bullish trend in the past few days. Curve rally accelerated after the network announced that it will launch a new stablecoin. It rose to a high of $1.45, which was the highest point since May 31st of this year. It has risen by more than 157% above the lowest level this year, bringing its total market cap to over $569 million.

Curve DAO to launch a stablecoin

The CRV price has been in a strong bullish momentum in the past few days as investors move to blue-chip DeFi tokens. The thinking is that these platforms have gone through a major stress test with the recent crash of cryptocurrencies and the implosion of major platforms like Terra and Three Arrows Capital.

Another theory is that the leading DeFi players like Aave, Uniswap, and Lido will thrive just as companies like Google and Yahoo thrived after the dot com bubble. 

Curve DAO price is soaring after the developers announced that they will launch a new stablecoin that will help to facilitate payments in the ecosystem. The stablecoin will be significantly different from the popular ones like Tether and USD Coin. 

The difference is that it will not be backed by anything like the US dollar or gold. Instead, it will be an over-collateralized coin like Tron’s USDD. These coins are usually backed by volatile assets like Bitcoin and other cryptocurrencies.

Curve DAO’s stablecoin launch comes at a time when many other decentralised platforms are launching their own coins. Maker was among the first ones to launch its token when it launched Dai. Tron recently launched USDD that has a market cap of over $700 million while Near Protocol has USN. 

The risk for these algorithmic coins is that they could easily lose their peg when volatility surges. In addition to Terra UST, other coins that lost their peg are Dei and Neutrino.

CRV price prediction

The four-hour chart shows that the Curve DAO price has been in a strong bullish trend in the past few weeks. As it rose, it managed to move above the upper side of the ascending channel pattern that is shown in blue. 

The coin also rose above the 25-day and 50-day moving averages while the Relative Strength Index and the MACD have continued rising. 

Therefore, the coin will likely continue rising as bulls target the next key resistance at $1.5. After hitting this psychological level, the coin will likely pull back and retest the upper side of the channel. 

The post CRV price prediction as Curve DAO unveils stablecoin plans appeared first on CoinJournal.