The world’s leading digital currency Bitcoin (BTC) is not anymore the most valuable digital currency in the market as a token from the decentralized finance (DeFi) market has overtaken Bitcoin. The governance token of yEarn.finance YFI is now worth more than one Bitcoin. The price value of YFI has surpassed that of Bitcoin for the first time. And it is the first time ever that an altcoin has taken over Bitcoin.
YFI’s Price is Trading Higher than that of Bitcoin
As the top-ranked digital currency is continuously struggling with the $12k zone, the decentralized finance token YFI has found an opportunity to take over Bitcoin. By recording a price increase of 35% in the last 24 hours, the governance token YFI’s price has climbed high than the price value of Bitcoin. Currently, the price value of YFI is standing at $14,775 at the moment while on the other hand, the price of BTC is trading at $11,816 at the time of writing. So there is a difference of over $2959 between these two cryptocurrencies.
This means that YFI’s price is now trading higher in the market than that of Bitcoin’s price value. With this, yEarn.finance’s native cryptocurrency has become the most valuable digital currency in the market while Bitcoin, on the other hand, is the second-most valuable cryptocurrency. So far now, this is the first time ever Bitcoin (BTC) has seen any altcoin surpassing the leading digital currency.
Launched only a few weeks ago, YFI has shown an impressive growth within the duration of this short time span. Some believe that the DeFi token is going to see further growth in its price value in the coming days while on the other hand, some believe that the price may retrieve back.
Now we have to see whether Bitcoin, being the largest cryptocurrency by market cap in the world, can once again become the most valuable asset in the market by leaving behind the DeFi token YFI in price value or not. However, the trend line for Bitcoin is in the downward direction at the moment.