After a month of extraordinary returns of more than 740%, DeFi darling yearn.finance (YFI) keeps climbing today, while traders remain divided on whether the top has been reached for the price or if it still has room to grow.
As of press time on Monday (10:28 UTC), YFI was up by 3.5% over the past 24 hours and up more than 154% over the past 7 days, currently trading at USD 33,765. The rally continues after the YFI price exceeded that of bitcoin (BTC) earlier in the month, causing some discussion in the community over whether such a high price per token is ultimately a good thing or not.
However, while one YFI is now worth almost BTC 3, it’s ranked 26th by market capitalization, which stands at USD 1bn, or 0.5% of BTC’s capitalization. Also, BTC 24-hour trading volume is 30 times larger, standing at USD 15.6bn today.
While opinions are divided on what the future holds for YFI, looking at the asset from a technical analysis perspective it seems that YFI’s exponential uptrend remains intact, with no resistance levels to be found to the upside.
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