Yearn.Finance (YFI) is one of the most talked-about cryptocurrencies of 2020, both due to its scarce 30,000 token supply and its miraculous price increase to more than 1 BTC in value.
However, the DeFi token could fall to $15,000 or deeper if Bitcoin brings down the rest of the crypto market.
Yearn.Finance, Other DeFi Tokens At Risk Of Getting Dragged Down By BTC
All cryptocurrencies are on thin ice at the moment, watching and waiting in the wind for whatever top crypto assets Bitcoin and Ethereum decide to do next.
Bitcoin has thus far held strong above $10,000 for its longest stretch yet but has been unable to set a higher high from the 2019 peak. The risk of a lower low remains a dark cloud hanging over the market and one that may finally douse out the burning hot flames of the DeFi trend.
Related Reading | Yearn.finance (YFI) On “Life Alert” After Weak Attempt To Hold Support
DeFi tokens are what helped the crypto market rise up from out of the bear market lows and even the Black Thursday carnage. Growth in these tokens, such as Yearn.Finance (YFI) has easily outpaced other major crypto assets such as those mentioned above.
YFI rose from nothing to being far more valuable than even the top-ranked cryptocurrency and most dominant asset in the market, Bitcoin.
But now its at risk of falling back to more on