YFII’s market price at the time of writing is $1,344 and has fallen by more than 13% in a single day. However, its trading volume decreased by more than 22% in just one day.
The chart above shows YFII’s 7-day price and we can see that the price has decreased by more than 23.8% in seven days, keeping in mind that its price a week ago was $1,764.
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Price volume analysis
The chart below represents a price change relative to volume for one month (November 10 to December 8) for YFII:
The above data suggests that the volume of YFII increased 1.8-fold on November 15th for one day and later began to decline. From November 19th through 20th, YFII’s volume saw a sudden spike of 3.07 times, but its price decreased 1.44 times during that time.
Another volume spike was observed from 3rd until December 4th, when volume increased 3.5 times and the price increased 1.28 times.
What is DFI money for?
The crypto has a maximum supply of 39,375 YFII tokens and of which 38,596 YFII are already in circulation (98% of the total).
The following are the four main use cases for DFI money:
- DFI cryptography is used to exchange and exchange currency on various crypto trading platforms.
- DFI money can be transferred quickly around the world and, therefore, a good means of transferring funds without worrying about withdrawal fees.
- It can be used as a payment method for various ecommerce sites (such as WooCommerce).
- DFI crypto is a good online payment method as it is accepted by many sellers.
DFI Money Price Forecast
The current market price of DFI Money is $1586.6 and has decreased by more than 16% in just 24 hours. Attached is his one-day chart:
Before predicting whether YFII should go up or down in the near future, let’s look back at its price history over the past few months. Its performance in recent months can help us achieve the required context for the future. Let’s discuss:
Above is the YFII chart for 1 year and as we can see that the market price of DFI Money a year ago was $3,700. So, there is a 134.1% drop in the price of YFII since last year. In addition, there are numerous ups and downs that claim that the decline has not been consistent.
The price of YFII has increased by more than 35% in just three months (although the increase has not been consistent at all; as we can see an increase to $ 4,010), bearing in mind that its price 3 months ago was $ 1031.
YFII’s all-time highest value is $8,671 reached in September 2020 and after that, the price started to fall (not consistently) and is currently priced at $1,578 (far below its all-time high). Also, its market price a month ago was $1,149. It means that it has since grown by more than 27%.
Now, considering its growth rate of 27% in one month, its value could double in just four months.
In addition, it is 447% below its all-time high, which leaves a huge margin for its future growth.
DFI Money Price Forecast: Competitor Analysis
DFI Money is a fork of Yearn Finance which is a very popular Defi aggregator platform. DFI primarily optimizes returns for Defi investors. Two major competitors to DFI Money are Harvest Finance and Compound Finance. Let’s do an in-depth analysis of DFI with its competitors.
Harvest Finance
Harvest Finance aims to help users earn Defi returns on farmers’ deposits. Automatically grow the highest yields possible using various newer techniques. FARM is its cash flow token. It helps users earn interest on ideal assets (investment mix, from the most aggressive to the safest).
Harvest Finance is based on Ethereum and helps users earn a return on their crypto investments. Here, users can deposit their assets in various loan pools (interest-bearing pool and savings pool). These pools are used to provide borrowers with the necessary liquidity.
Compound Finance
Compound Finance is an algorithmic protocol that provides developers with numerous financial applications. It helps users earn interest even when their businesses are in cold storage and provides the highest possible returns.
In addition, it is a place where users can borrow or lend cryptocurrencies using their Ethereum wallets. Compound Finance is one of the famous protocols that has made the lending and lending process easier in the crypto space.
Compound finance runs on Ethereum and incentivizes a network of computers in order to operate the traditional money market. It allows you to take out and grant loans without the need for any bank or other financial intermediary.
When a deposit is made, compound finance provides the lender with a cryptocurrency called a cToken (which can be traded without any restrictions). In addition, lenders are free to withdraw their money whenever they want. Now, lenders are rewarded with cToken-based COMP tokens in their wallets.
How will recent withdrawals affect these cryptocurrencies?
As we can see people don’t spend much on cryptocurrencies, but they keep their money. One of the reasons for this is the rise in the consumer price index in the United States.
Note that the latest US Consumer Price Index number is 296.76. The value was 280.13 at the beginning of this year and has been steadily increasing over the past three months.
In case people decide to withdraw their money from cryptocurrencies and hold it for themselves, most cryptocurrencies will be affected. So, their prices can fall further. Let’s see how it will affect the cryptocurrencies mentioned above.
Since Harvest Finance and Compound Finance are the platforms that can be used to borrow money from users, people could still apply for it to get loans. Here. The sole purpose of the DFI is to improve the profits of cryptocurrencies, therefore, it will be influenced to the maximum by macroeconomic factors.
On the other hand, Harvest Finance will be less affected as it is a platform that provides loans without requiring a banking institution.
Price analysis of DFI’s competitors:
The current market price of Harvest Finance (FARM) is $28.07 and has decreased marginally by 0.24% over the last 24 hours. Its price a month ago was $36.3, which means that the price has dropped by almost 26% in a month.
On the other hand, the current market price of Compound Finance (COMP) is $37.26 and has slightly decreased by 0.81% over the last 24 hours. As we can see from the chart above, a month ago, COMP was priced at $50.4. It means that COMP fell 35% in one month compared to a 26.4% decline in YFII (DFI Money).
How can we analyze that DFI money has been underperforming for a week compared to its competitors, but has performed much better for a year (in terms of market price). Its usefulness is mainly for obtaining high yields.
DFI’s Vault helps traders move from various crypto investments to crypto assets. So, users can earn an excellent APY simply by adding liquidity to the pools.
The attribute of DFI Money through which users can seamlessly switch from different pools is what makes it unique compared to its competitors. Users can switch to get better returns and earn high APY.
DFI Money Price Prediction: Is DFI Money a good investment?
DFI Money is built on the Ethereum Blockchain and is a forked platform of Yearn Finance. It has a certain innovative suite of Defi products to offer, which includes crypto liquidity stake and stablecoin algorithmic investment solutions.
It offers a provision of liquidity to help borrowers and lenders take advantage of the availability of crypto assets. In addition, it is known to offer a high APY to liquidity.
What are the features that distinguish DFI Money?
- DFI Money offers a profitable investment offer for traders.
- Users can switch between different pools to get high APY very easily.
- With the help of Vaults, the protocol recommends the best cryptocurrency pools to achieve better returns for users.
- DFI Money allows users to invest in Balancer and Curve Finance.
- It allows users to select algorithmic stablecoin trading options.
Analyzing price movements and competitors, we can safely say that DFI Money is a good investment if you are planning for the short term. It has some unique features that can help you get higher returns in a shorter time frame, but it’s not worth keeping it for longer periods.
DFI Money Price Forecast 2023, 2025 and 2030
Although the price prediction cannot be 100% accurate, a thorough analysis and past performance of the coin can actually predict its future.
To predict the almost accurate value of any token, its price history and movements help a lot. Let’s take a brief look at YFII’s all-time high and predict its price for 2023, 2025 and 2030.
With a Coinmarketcap ranking of #279, DFI Money has a market capitalization of $61,403,848. There are currently 38,596.00 YFII tokens in circulation, accounting for 98% of the total supply.
YFII’s all-time highest value is $8761, meaning it’s 447% lower than its all-time high price it reached in September 2020. The chart above shows that YFII’s price has increased by almost 90% since its launch in August 2020 to reach its highest price of all time. As discussed earlier, there is a 134.1% decrease in the price of YFII in a year and 26.4% in a month.
DFI Money Price Prediction 2023
According to the price forecast, in 2023 the YFII price is expected to
exceed an average price level of $5,743.4, and the value of YFII’s expected minimum price by the end of the current year is expected to be $5,582.1. It can reach a maximum price level of $6,631.5.
DFI Money Price Prediction 2025
According to the price forecast, in 2025 the YFII price is expected to exceed an average price level of $ 12,361.5. The expected minimum value of YFII’s price by the end of the current year is expected to be $11,948.3. It can reach a maximum price level of $13,897.9.
DFI Money Price Prediction 2030
According to the price forecast, in 2030 the YFII price is expected to exceed an average price level of $ 84,029.6. The value of YFII’s expected minimum price by the end of the current year is expected to be $81,670.8 and can reach a maximum price level of $98,546.5.
DFI Money Price Prediction: About DFI
DFI Money, a fork of Yearn Finance (YFI), is a cryptocurrency that improves the returns of Defi investors. Its main purpose is to earn better profits from high-value cryptocurrencies.
Note that DFI money should provide good returns when considered as a long-term investment. YFII is DFI’s native token. The money and number of YFII tokens are fixed.
It has undergone many changes in its protocol and has also released many new products. The Vault is one such product released by DFI Money. Vault automatically helps users get the maximum returns of any token without people manually setting up transactions.
DFI Money follows a popular model of Bitcoin, i.e. it implemented the YIP-8 proposal and therefore YFII rewards are rejected every week.
