Yearn.finance Could Slip Lower, Traders Fear<\/strong><\/h2>\nAfter predicting the latest leg of the ongoing YFI prediction to $14,000, a trader asserted<\/a> that the cryptocurrency is on its way to $12,000. As can be seen in the chart he shared below, YFI falling to $14,000 brings it under an important support level that is suggestive of a further decline to $12,000. The cryptocurrency dropping to $12,000 from current levels will mean it will need to correct 18%.<\/p>\n![\"Image\"](\"https:\/\/pbs.twimg.com\/media\/Ejvjy8gXcAEIEbG?format=jpg&name=large\")
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Chart of Yearn.finance's price action over the past four days with analysis by crypto trader TraderSZ (@Trader1sz on Twitter). Chart from TradingView.com<\/a><\/pre>\nRelated Reading:\u00a0Critical On-Chain Signal Predicts That Bitcoin\u2019s Next Move Will Be Upward<\/a><\/h6>\nFundamentals Still Positive<\/strong><\/h2>\nDespite the clear loss of momentum in the price of YFI, analysts remain more optimistic than ever about the project.<\/p>\n
Andrew Kang, the founder of Mechanism Capital, recently noted<\/a> that those that think Yearn.finance is now a valueless project due to declining yields are “missing the forest for the tree. He highlighted that the project’s developers have a series of strategies to roll out that will allow it to generate relative value over other DeFi platforms.<\/p>\n“The argument that YFI \/ Yearn value is dependant on crazy yields is missing the forest for the trees. Yield opportunities continue to grow Future strategies: – 10x-100x leveraged short DAI – Basis\/Funding trades – UNI Farming – BAL Farming – L1\/L2 Liquidity Bridging – etc.”<\/p><\/blockquote>\n
\nThe argument that YFI \/ Yearn value is dependant on crazy yields is missing the forest for the trees. <\/p>\n
Yield opportunities continue to grow<\/p>\n
Future strategies:
– 10x-100x leveraged short DAI
– Basis\/Funding trades
– UNI Farming
– BAL Farming
– L1\/L2 Liquidity Bridging
– etc<\/p>\n
— Andrew Kang (@Rewkang) October 4, 2020<\/a><\/p><\/blockquote>\n
Chart of Yearn.finance's price action over the past four days with analysis by crypto trader TraderSZ (@Trader1sz on Twitter). Chart from TradingView.com<\/a><\/pre>\nRelated Reading:\u00a0Critical On-Chain Signal Predicts That Bitcoin\u2019s Next Move Will Be Upward<\/a><\/h6>\n
Fundamentals Still Positive<\/strong><\/h2>\n
Despite the clear loss of momentum in the price of YFI, analysts remain more optimistic than ever about the project.<\/p>\n
Andrew Kang, the founder of Mechanism Capital, recently noted<\/a> that those that think Yearn.finance is now a valueless project due to declining yields are “missing the forest for the tree. He highlighted that the project’s developers have a series of strategies to roll out that will allow it to generate relative value over other DeFi platforms.<\/p>\n
“The argument that YFI \/ Yearn value is dependant on crazy yields is missing the forest for the trees. Yield opportunities continue to grow Future strategies: – 10x-100x leveraged short DAI – Basis\/Funding trades – UNI Farming – BAL Farming – L1\/L2 Liquidity Bridging – etc.”<\/p><\/blockquote>\n
\nThe argument that YFI \/ Yearn value is dependant on crazy yields is missing the forest for the trees. <\/p>\n
Yield opportunities continue to grow<\/p>\n
Future strategies:
– 10x-100x leveraged short DAI
– Basis\/Funding trades
– UNI Farming
– BAL Farming
– L1\/L2 Liquidity Bridging
– etc<\/p>\n— Andrew Kang (@Rewkang) October 4, 2020<\/a><\/p><\/blockquote>\n