this is a "governance" token, with a paralyzingly high per unit value ($20,000 and up)
the team has no regard for establishing traits to justify the YFI token to have any non-speculative value.
solutions may involve: 1. revenue payments to YFI holders 2. token split - to normalize per unit price in context of other altcoin crypto assets 3. compensation of revenue per participation in governance decisions
the software team building yearn finance are world class however the tokens are at face value nothing but monopoly bucks
i see a massive dead cat bounce rally happening soon, followed by a very slow and painful 2022, and price never returning to the doorstep for $100,000
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price has responded, the YFI team will be taking revenue and using it for buybacks. this will make the token price bullish. this is the massive dead cat bounce rally
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dead cat rally looks to be fading
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markets off bad, now is the next few weeks of gut checking
is crypto still macro bullish? or are the bears here
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Dead Cat Bounce completed, now we're in the slow and painful 2022. the $100,000 doorstop doesn't look probable for a long time. However, YFI as mentioned above did implement a token buyback mechanism.
The outcome will be a mitigation against extreme downside.
my low target for 2022 is 15,000 - 17,000
this is all conditional to the bitcoin price remaining above $30,000 for all of 2022