Analyst: yEarn Finance (YFI) DeFi Rally Is Contender For Crypto Market’s Fastest 100x

Tony "The Bull" Severino

4 years ago

2 mins read

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Decentralized finance is absolutely on fire, and so is every crypto token in the segment. The latest token to take off due to the unstoppable trend is yEarn Finance.

According to a well-known crypto analyst and podcaster, YFI may be a contender for the fastest 100x ever in the crypto market.

$10,000 Invested in yEarn Finance 6 Days Ago Worth Nearly $1 Million USD

Capital cycling through one DeFi project to another is causing pump after pump in the crypto market.

This week alone has seen several DeFi tokens going on explosive rallies. Ampleforth, another new DeFi token, experienced an over 700,000% flash pump followed by a 99.99% crash back down to reality.

Today, the DeFi token making headlines for bringing crypto investors enormous returns is yEarn Finance (YFI).

According to a crypto podcast personality and trader Luke Martin, yEarn Finance was $34.53 just six days ago but is now trading at $3,052.40.

The climb represents an over 8725% ROI in less than a week according to Martin’s figures. Martin claims that the ridiculous rise could be one of the fastest “100x” the crypto market has ever witnessed.

$YFI price 6 days ago: $34.53$YFI high today: $3,052.40

This may be the fastest 100x in the history of crypto. Defi is wild.

h/t @Rewkang pic.twitter.com/tSoofDkLAV

— Luke Martin (@VentureCoinist) July 24, 2020

Just $100 invested at that time would be worth nearly $9,000 a week later. $1,000 would now be worth closer to $100,000, and a $10,000 investment would result in just over 100 grand shy of a million dollars.

DeFi Success Stories Are Becoming a Dime a Dozen Across Crypto

This type of success story used to be commonplace in the crypto market back during the 2017 bubble build up. But gains like these haven’t been seen since the ICO boom ended.

Decentralized finance is the first major trend to bring back a glimmer of that past success.

yEarn Finance YFIUSDT Hourly Price Chart | Source: TradingView

Larger projects with more progress and liquidity kicked off the craze. Ethereum saw the initial growth at the start of 2020, but soon after that capital rotated into Compound (COMP), then Aave (LEND), and later Maker (MKR).

Now it’s flowing into Ampleforth, yEarn Finance, and others, due to crypto investors searching for the next big thing in DeFi.

And it’s clear to see why. Those who were earliest to jump on each coin were able to ride the initial waves to wealth.

Still, other analysts warn that this approach is a disaster waiting to happen and that it’s wiser to stick to tried and true projects with higher liquidity.

As yEarn Finance has shown, however, even meager investments in the hot new thing can pay off extremely well. But for every success story, there’s a chance of stumbling upon the on DeFi project that goes defunct and results in ROI in decline.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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