Get started

YFIIBTC

YFII/BTC (Test the Swing Top Resistance?)BINANCE: YFIIBTC -YFII is following a strong uptrend after breaking the 0.555 resistance -If we will see a small correction in the next day -Previous resistance must hold to continue a strong rally up to 0.826 -Or consolidate above the green line and let the 12MA/20MA to catch up -The RSI is above 70 so might expect a little cooldown -Follow risk management and do not FOMO ^Trading involves High Risk ^Not Financial Advice ^Please exercise Risk Management **If you like my daily Published Ideas **A little help by supporting my Channel **Through leaving a Thumbs Up, Comment & Follow **Happy Trading! Thank you! :)
Y
by PolarHusk
6
YFII: Decentralized Finance and Market PsychologyIf you like this analysis, please make sure to like the post! I would also appreciate it if you could leave a comment below with some original insight. In this analysis, I'll be explaining the speculative nature of the alt-coin market, exemplified by the defi hype. Analysis - It's extremely difficult, almost impossible to apply technical analysis to the newly listed Defi coins on major cryptocurrency exchanges - They have very little price history data, and most of their fundamentals in terms of project development, is questionable to say the least - In the case of YFII, we can look at the hourly chart to speculate its next move - As the 'Defi-hype' is not over yet, there is still a lot of capital flowing into altcoins, and bullish movements are supported by high volume - Based on market psychology, people who have missed out of the YFI opportunity, are jumping into YFII, in fears of missing out - Based on the trend, we can see that a "U" shape recovery is taking place, with potentiality for YFII to hit its previous high once again - It has gone up over 100% already from the local bottom, and has an 80% upside to the next top - The Ichimoku cloud confirms the bullish trend, as prices are trading above the cloud. The cryptocurrency altcoin market, currently driven by the Defi-hype, is just another phase of a speculative market after the 2017 ICO phase, and 2018 STO phase. Don't predict the market. Take it by levels, and play by probabilities. - Michael Wang-
Y
by Michael_Wang_Official
8
YFI/BTC (Bearish Double Top - Confirmed)BINANCE: YFIBTC -The bearish double top pattern is confirmed after the break of the neckline -The downside target is around 1.4BTC or mover than a -30% decline -Be careful as the market is not yet ready to settle down -If you are interested adding positions to your midterm trade Altcoins -Find the major support area and the confluence of previous support & resistance -Because the chances of these zones will hold are high **If you like my daily Published Ideas, Please don't forget to leave a thumbs up and comment below. Thank you!**
by PolarHusk
11
YFI - yearn.financeyearn.finance is a Decentralized Finance (DeFi) platform which aims to build products on aggregated liquidity provision , leveraged trading, automated marketing making, and more. The YFI token is the native utility token in the yearn.finance platform. Users can earn it by contributing liquidity to yearn.finance's aggregated liquidity pool, or ypool, and use the token for platform governance. yearn.finance currently provides a profit optimizing service for lending providers, moving providers' funds between dYdX, Aave, and Compound autonomously for highest return. The balanced scheme works without attracting new funds. Therefore, the team has no reason to scam the project. Perhaps there are other reasons, for example, a technological scam: some kind of back door or problems with IT or Blockchain will give an error that will make it possible to steal money. All tech companies have such problems: Twitter, Apple, etc. In general, this is not a scam or a financial pyramid like the Ponzi. The project has a use case, some people believe in it, there is a kind of ecosystem. A disadvantage is a large number of audits. Since there is a lot of money in the project, and hackers did not steal it, this is probably not so easy to do. This was written by Andre Cronje - he has been in the cryptocurrency field for a long time and has done a lot of useful things, so people trust him. Motivation The YFI community is currently working with Delphi and Gauntlet to develop an economic model and inflation schedule. Until this process is complete, the project lacks the funds for any operational expenses including, but not exclusive to, security audits, deployment costs, consulting expenses, and compensations. All surplus rewards are directed to the governance pool. How does the protocol make money? There are two sources of income: 0.5% Commission for withdrawing money (this commission is charged in the case of Earn (Lending optimization) and the case of Vaults (Yield farming optimization) The economics simple YFI charges a 5% gas subsidization (performance) fee on the capital it's managing as well a 0.5% withdrawal fee if the user pulls their capital out. The withdrawal fee applies to both its Earn and Vaults products, while the performance fee only applies to its Vaults product. More specified that the treasury should maintain a buffer of $500.000 equivalent, with all surplus rewards distributed YFI staked in the governance pool. Specification 100% of the rewards collected by the system are directed to the multi-sign treasury. Treasury should maintain a buffer of 500,000 USD equivalent, with further rewards distributed to YFI staked in the governance pool. In the July 17 article, Andre Cronje wrote that just because we feel we didn’t stress it enough, 0 value. Don’t buy it. Earn it. In my opinion, this phrase discouraged some people to trade this coin. I think that to a large extent, this is said for the regulator so that they do not touch the project developers. medium.com Best regards EXCAVO
by EXCAVO
13