coinputin.com – Yearn.Finance’s local token yfi is expected to outperform in 2021 due to underlying and technical trends.
A leading cryptocurrency analyst recently pointed out that yfi’s recent price move is extremely similar to that of Ethereum ahead of cryptocurrency’s big bull run in 2017. This is a fractal comparison, yearn.it shows that finance’s local token is likely to experience an extreme increase next year.
There are also some key trends that are thought to push cryptocurrency higher. So, as Yearn developers prepare to release an update to a core product, Project founder Andre Cronje is leading partnerships with other top Defi protocols.
- Ethereum Fractal: YFI to outperform in 2021
According to one trader, yfi’s recent price move is quite similar to Ethereum’s price move at the end of 2016. Both charts have similar basic theses as well as similar technical formations.
Yearn.if finance’s token follows the ETH path, YFI could perform exceptionally well in 2021.
- Improvements That Raise Expectations
Yearn.finance’s fundamentals are bullish, boosting yfi’s expectations.
So, developers yearn.it is on the verge of rolling out finance’s v2 vaults. Vaults are the main product of the protocol, which allows users to earn a regular and relatively secure return on investments of assets such as stabilcoin and Ethereum.
A year.according to finance developer, v2 cases will include the following improvements:
- Allow a vault to have multiple strategies at once
- Streamline the development cycle of new strategies using a standard API
- Streamline the QA/security process of vaults to provide the highest quality code
- Making sure the vaults are tested to address different strategy risk/return/fluctuation thresholds
- Make it easier and more secure for integrators to use enclosures in their projects
Many expect the launch of this New Year product will accelerate yfi’s growth. Because YFI needs to attract more capital to the Year by increasing the dividends paid to its owners.