In retrospect it was inevitable11/3/2022 ![]() ![]() Additionally, the total number of smallholders is also increasing quite substantially. If you have been following me recently, you will know I am a big fan of the Santiment metrics.įirst of all, it seems that both small farmers and whales are holding and stacking up their dear $FARM tokens Īlthough the smaller whales holding between 1000 and 10,000 $FARM might be stagnating, whales that hold between 10,000 and 100,000 $FARM is on the rise - a very strong bullish signal. It can grow almost 10 times until they hit parity with each other. This means that there is currently much more liquidity locked into the farming strategies than the actual market cap itself - indicating that the market cap has room to grow much higher, along with the price of $FARM. In Comparison, the Mcap/TVL ratio for Harvest Finance is currently at just 0.18 The market cap is much higher than the liquidity locked inside the farming strategies. This shows that the market cap is 1.81 times greater than the total value locked in the protocol. ![]() The Mcap/TVL for Yearn Finance currently sits at 1.81 It can help show if a project is undervalued or not, judging by if there is more value locked in the protocol itself than the entire market cap of the project. Mcap/TVL Ratio Reveals How Much Room to Grow is there for $FARMĪnother fantastic Metric that I like to keep my eyes on is the Market Cap/TVL ratio. It even has strategies that go as high as 1100% in DAI-BSG and 575% in MUC-USDT. In comparison, we can see that most of the Harvest Finance strategies are above 30% as a baseline. It not only has more strategies, but it is also offering a higher APY return on all of their strategies when compared with Yearn Finance.įor example, the two highest-earning strategies on Yearn are the crvGUSD vault (49%) and cvrCOMP vault (33.6%). Yearn is doing very well itself it has over 25 different strategies to choose from īut Harvest Finance is much further ahead as it has a total of over 43 strategies that you can currently farm with However, it seems that Harvest has a wider range of farming strategies for farmers to choose from than Yearn. They are both in the same niche as they provide consistent yields to their farmers that deposit assets into their respective strategiesies. ![]() Harvest has 2x Strategies than YFIĬontinuing with Yearn Finance’s comparison, Harvest Finance has almost double the number of strategies than its closest competition in Yearn. However, the truth shows that the TVL is officially much higher. I admit that I fell into the DeFi Pulse trap by showing that TVL in my last piece. Overall, looking at the official stats from the Harvest Finance homepage would provide the most accurate reading of TVL. This means that the TVL for Harvest Finance is almost $100 million greater than that of Yearn Finance (assuming DeFi Pulse has Yearn’s TVL correct) They have their TVL at $615 million at the moment of writing this However, the most accurate TVL statistic has to be from the Harvest Finance homepage itself. Looking at the TVL stats from CoinGecko, they have it closer to $612 million The first thing that I need to mention is that the TVL that DeFiPulse seems to be wrong. Now, the question I am sure that most of you have is Is it over yet? Let's examine: 1. It seemed that the price was only lagging behind the fundamentals, and it was just a short amount of time before the price eventually caught up. The fundamentals that I outlined in the last piece were so strong behind $FARM. $FARM was barely $119 at that time.Īs Elon said It was Inevitable. 13 days ago, I released this piece detailing how $FARM was set for a rebound. ![]()
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