Recently bitcoin has been dethroned from its top spot by a new crypto-asset Yearn.finance (YFI). The DeFi token YFI has surged by more than 100,000% in early autumn. YFI started trading at just $35 per token, while now its price has soared to $38,000. The results are truly impressive for a newcomer as it has become the first digital asset to reach such a value. Even the world's leading cryptocurrency bitcoin is currently trading at $10,500. In December 2017, when all cryptocurrencies rallied, bitcoin’s all-time high did not exceed $20,000. However, its initial price was much less than $35 per token. Market participants agree that YFI has definitely beaten bitcoin in this price race and has officially become the first altcoin in the world to surpass BTC. By the way, the term altcoin refers to all cryptocurrencies other than bitcoin. Analysts believe that YFI success is explained by its limited supply of just 30,000 coins. At the same time, the crypto-asset is listed on all major exchanges. The new altcoin was launched in July on yEarn Finance platform which is based on the so called “profitable farming” strategy. As we can see, this type of “farming” is really rewarding.
