Yield farming platforms and protocols are up 8% in the last 24 hours, with the sector’s total market cap now exceeding $10 billion.
What are Yield Farming Coins?
The yield farming token sector refers to a subset of the decentralized finance (DeFi) ecosystem that focuses on incentivizing users to provide liquidity to various DeFi protocols.
Yield farming tokens are typically governance tokens that give holders voting rights and a share of the fees generated by the protocol. These tokens can be earned by staking or providing liquidity to various DeFi platforms, which in turn allows users to earn a return on their investment.
The rally has benefited mid-cap tokens like Uniswap and Aave, up 3.7% and 4.3% respectively, but it didn’t necessarily come from them.
Much higher are tokens with lower caps like Landshare.
House flip on chain
The sector rally seems to be mostly led by the newly launched project Landshare, a token fully integrated with the Binance Smart Chain that is up +44% in the last 24 hours.
The project enables on-chain mirroring of tokenized real estate assets, a platform that brings together the capabilities of DeFi and real estate investing, a platform that offers direct access to on-chain assets such as tokenized assets and crowdfunded house flipping.
(Source: Coin Market Cap)
Badger DAO accelerated
Another low-cap token that has surged sharply over the past 24 hours is Badger DAO, a project that aims to build products and infrastructure needed to accelerate Bitcoin as collaterally across other blockchains.
Badger is up +6.75% in price in the last 24 hours, with a market cap of $72 million, Badger’s token price is now $3.79.
On February 22, Badger DAO introduced an eBTC, a decentralized bitcoin powered by Ethereum staking.
(Source: Coin Market Cap)
(Source: Coin Market Cap)Uniswap increases
Uniswap is a decentralized cryptocurrency exchange that operates on the Ethereum blockchain and uses an automated market-making system. It has its own governance token called UNI and is considered a prominent player in the world of decentralized exchanges.
The current trading price for Uniswap is $6.81, the token is up 3.31% in the last 24 hours and currently holds the 18th position on CoinMarketCap with a live market cap of $5 billion.
(Source: Coin Market Cap)
(Source: Coin Market Cap)Aave also wins
Another yield farming token, Aave, is also available today. Aave is a decentralized finance protocol that allows users to lend and borrow cryptocurrencies by depositing their digital assets into liquidity pools, allowing borrowers to use crypto as collateral to obtain flash loans.
Aave’s current trading price is USD 82.32, with a 24-hour trading volume of USD 82,338,720. The token has seen a 4.26% surge in the past 24 hours.
(Source: Coin Market Cap)
(Source: Coin Market Cap)Yearn Finance sees modest gains
yEarn.finance is a DeFi lending protocol built on top of Ethereum as an aggregator service built for investors in DeFi, using automation to help them maximize their profits from yield farming. The platform aims to simplify the complex DeFi landscape for less tech-savvy investors or those seeking a less intensive approach than that of professional traders.
yearn.finance current price is USD 9,735.50, it has gained 2.86% in the last 24 hours. Its current market cap is $356 million, making it the 116th most popular token on Coin Market Cap.
(Source: Coin Market Cap) Posted in: Analysis, Research
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