Crypto strategist Alex Saunders says he believes Bitcoin isn’t the one crypto asset that’s poised to cross the $100,000 mark.
Saunders lately up to date his outlook for BTC, saying the main cryptocurrency will breach the six-figure mark throughout the subsequent 5 years.
Now, Saunders says he believes the decentralized finance (DeFi) motion will gasoline the rise of one other coin previous $100,000. He tells his 55,000 followers on Twitter that yearn.finance (YFI) is firmly on a path in the direction of the high-water mark.
“YFI = $100k. SUSHI to make a giant come again. Two of probably the most misunderstood, but artistic, progressive and pushed protocols/groups/communities round.”
Yearn.finance is designed to divert liquidity to numerous DeFi protocols reminiscent of Compound, Aave and dYdX and discover one of the best returns.
YFI is the governance token that fuels the yield aggregation platform and is distributed to customers who present liquidity on the platform.
Saunders factors to YFI creator Andre Cronje’s management as the highest motive he’s bullish on the asset. Cronje simply announced he has huge plans for the approaching v2 launch of the platform, which is designed to additional combine the platform with different main DeFi protocols.
“I’ve a lot extra deliberate for when v2 launches, customized cash markets (yield & insurance coverage), Cream will likely be a lending reserve into Aave, agnostic Cowl for all aTokens, and we are able to lastly put ytrade, yleverage, and leveraged steady cash into manufacturing!”
YFI is without doubt one of the highest performing crypto property of 2020. It burst on the scene in July and surged from $31.65 to an all-time excessive of $43,678 on September twelfth.
It’s now valued at $25,922, up 3.4% within the final 24 hours, in accordance with CoinGecko.
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