Arthur Hayes has as soon as once more reiterated that 1 YFI will quickly be equal to $100okYearn Finance (YFI) has obtained a lift from Coinbase saying it was itemizing the tokenBuying and selling of YFI on Coinbase will start on the 15th of September at 9am (PT)YFI may hit $100ok primarily based on the proposal to cap its provide at 30,000
The CEO of Bitmex, Arthur Hayes, has as soon as once more reiterated his prediction that the worth of Yearn Finance (YFI) will ultimately hit $100,000. That is the third time Mr. Hayes has made this prediction with the latest being made after YFI rallied on account of Coinbase Professional saying it was itemizing the token.
Beneath is Mr. Hayes’s tweet making the prediction. Additionally value noting is his emphasis on the possibilities of YFI making it to $100ok by way of his use of the phrase ‘FEW UNDERSTAND’ in capital letters.
#DeFi is heating up once more. As a reminder, 1 $YFI = $100,000. FEW UNDERSTAND. pic.twitter.com/oUEXeLjvfK
— Arthur Hayes (@CryptoHayes) September 13, 2020
Coinbase Professional Lists Yearn Finance (YFI)
As acknowledged above, Yearn Finance (YFI) has skilled a resurgence within the crypto markets attributable to Coinbase Professional saying it was itemizing the token. Coinbase Professional made the announcement on the 10th of September and was the principle cause Yearn Finance (YFI) began to rally as soon as once more.
The group at Coinbase Professional defined that YFI deposits could be open starting Monday, September 14th. Buying and selling will start on the 15th of September at 9 am (PT).
How Excessive Can Yearn Finance (YFI) Go?
Additional checking the charts, Yearn Finance (YFI) is clearly on a moon mission after setting a brand new all-time excessive worth of round $44,000. With little knowledge to go by on the day by day chart attributable to YFI’s youthfulness within the crypto markets, the 4-hour chart will probably be used for a short evaluation of Yearn Finance.
From the 4-hour chart, the next will be noticed.
Commerce quantity is within the crimson. Nonetheless, promoting is lowering indicating a risk of renewed shopping for activityThe worth of YFI at $40,400 is above the 50, 100 and 200 transferring averages on the 4-hour time frameYFI’s worth can also be above the earlier all-time excessive of $39,900 that’s now performing as supportMACD is about to cross in a bearish manner4-hour MFI is indicating an overbought scenario
Summing it up from a technical evaluation standpoint, Yearn Finance (YFI) might need some extra gas within the tank in anticipation of buying and selling on Coinbase Professional on the 15th. Quick time period merchants may view this occasion as a chance to exit their longs whereas on the identical time retaining Arthur Hayes’s prediction in the back of their minds.
Additionally value mentioning is that the creator of Yearn Finance desires to cap the provision of YFI completely at 30,000. If this proposal goes by way of, YFI may very a lot hit Arthur Hayes’s $100ok and probably maintain transferring up within the weeks and months to comply with.
As with all analyses of altcoins corresponding to Yearn Finance, merchants and traders are suggested to make use of enough cease losses and low leverage when buying and selling YFI on the varied derivatives platforms.