YF Link is a fork of the popular yearn.finance (YFI) which combines Chainlink’s LINK token with Yearn Finance YFI’s yield farming/liquidity mining mechanics.YFL is a project which can be easily adopted by the Chainlink enthusiasts, known as ‘Link Marines’.
With the growing popularity of ChainLink which surged from $2 to more than $18 which is an all-time high as of now, both the Link Marines and the other crypto enthusiasts become more interested to know more about the YF Link.
Therefore, in this write-up, let us look deep into the unnoticed framework of YFL, its offerings, functions and future predictions.
What is YF LINK (YFL)?
YF Link is a liquidity mining pool that combines the fundamentals behind Chainlink and yearn finance to provide users with a new product. Launched in July 2020, YFL basically collaborates two basic DeFi concepts, yield farming and liquidity mining.
Also Read : Chainlink Price Prediction 2020 – How High Will LINK Reach?
Liquidity mining is nothing but a strategy that allows the user to stake in a liquidity pool so that they could earn governance token as a reward. This helps to keep the platform healthy by securing community participation in the protocol and intensifying user activity.
YF Links operates through its native token, YFL with a total supply of 52,000 YFL. YFL can be used to pay for smart contract fees, as a medium of exchange, staking and governance. As the YFL holders have the whole authority, they can make proposals and cast vote on them.
YFL Price Today
YFL has a pretty good performance since its inception. Currently, at the time of writing, YFL price stands at $430.46 with a massive 24-hour gain of 18.93 percent.
The current market sentiments flow 50 percent bullish towards the digital asset and the current indicators point out a ‘strong buy’ signal.
YFL Technical Analysis
YFL initiated with a pretty good start, the price nearly more than $200 but within a couple of days, it dumped drastically below $100 to touch $56.58. The digital asset further crashed to the lowest possible levels of $12.75 on August 17, 2020.
The DeFi boom that led many tokens to enter a bull run also escorted YFL among the top gainers. The boom led to the price amplification to create a huge spike with the price touching almost $2000 within a small time frame.
It was the same period when Yearn finance(YFI) had entered the initial phase of a major bull run when YFL touched its heights of $1,956.97 on Sep 02, 2020. The DeFi boom which was initiated with YFI soaring above $40,000 led the surge of the majority of the DeFi tokens.
But later dipped below $1000 and still maintains a narrow swing below $500 and expected to swell by the end of 2020. However, the intensified trend is speculated to carry on in the next coming years too.
YFL Price Prediction 2020
YFL price often tends to fluctuate every now and then. The token which jumps at a greater margin also dumps at a greater pace. However, considering the current price surrounding $430, YFL can jump with slight highs by the end of 2020.
By the end of 2020, YFL price can touch $600 mark or might go still higher if any positive announcements or events occur within the crypto space. Else, it could swing in a narrow range between $550 to $650 by December 2020.
YFL Price Prediction 2021
YFL has showcased a rising tendency since it was launched, also the market sentiments also have a bullish trend. Therefore, the token is expected to surge in the coming year. With the start of 2021, the YFL price can touch anywhere in between $600-$800.
In the mid of 2021, the price may shoot up above $1000 to touch anywhere in between $1200-$1400 levels. By the end of 2021, the YFL price can reach to a greater high near $2000 or might even touch $2500.
Also Read : Yearn.Finance Price Prediction 2020. Will YFI Price Reach $20,000?
YFL Price Prediction for the next 5 years
YFL as the other assets is expected to surge with higher levels, forming new All-Time high every year. Considering the present price, the YFL price is expected to touch $2500 by the end of 2021. Moreover, the asset is expected to jump further with soaring prices in the next five years.
The year 2022 will be kick-started with prices near to $2500. However, the prices are expected to soar further to touch $3000 by the mid of 2022 and reach heights of $5000 by the end of 2022.
The token further in 2023 is expected to rise above the levels to touch $7000 but by the end of the year, the price may settle near to $5500 levels. In the next two years, the token can touch above $8000 and entering the major bull run phase, the token might also attain $10000 levels by 2025.
YFL Market Prediction
Many analysts predict a bull run for the token in the coming days and years. Let us know, the price YFL prediction making rounds in the market.
According to the analysts associated with walletinvestor.com, the YFL price is expected to touch $2000 by the end of 2021 and shoot up till $9111 in the next five years.
The digitalcoinprice.com analysts also predict a bull run for the token which may reach $700 by December 2020 and rise up to $2078 in the near future.
The analyst of Gov.capital predicts YFL can surge with a soaring price which might touch $10000 in the long term, by 2025.
Our YF LINK Price Prediction
YFL, however, might enter a bull run in the coming days. As per our analysis, in the short term, YFL can touch $650-$700 by the end of 2020. However, by 2021 the price may go up by adding $1000 to reach around $1500-$1600.
Considering the price forecast for the next five years, our analysis also predicts good growth with the token in the crypto space that can push the prices to greater levels in the coming five years.
- What is YFL token?
YFL is a token that combines the fundamentals of Chainlink and Yearn.finance.
- How much is the total and circulating supply?
The total supply of YFL is 52000 out which 49,613 is in circulating supply.
- What is the price forecast for 2021?
YFL is expected to reach $2000 by the end of 2021.