Harvest Finance, also known as farm coin, is a decentralized finance (DeFi) protocol, as the name suggests. This protocol aims to collect yields from other leading DeFi platforms. So, it works as an automated yield farming platform. In this article, we will answer the question “What is a farm coin”. Next, we will review the latest expert reviews and price predictions for Farm coin. Now let’s move on to our topic.
What is Farmcoin?
cryptocoin.com As we reported, Harvest Finance (FARM) is a DeFi protocol that offers users more than 100 farming pools. This automated yield farming platform was launched in September 2020 and has grown continuously since then. According to the platform’s website, it has reached 34,654 users since its launch. These users saved $211 million in gas fees within the platform. In other words, Harvest Finance, besides the yield farming features it offers, also works as a cheap platform.
The basis of the platform is the local Farm coin. In this Harvest Finance crypto price prediction, we look at the key features of the platform and Farm coin, the latest price action and the forecasters’ Farm token price predictions. In fact, Harvest Finance is currently managed without a team. However, Farm’s max supply of 690.42 units may give some indication for the asset. Currently, Farm is used as a governance token. In other words, users who participate in the management of the platform have to have this crypto money.
What does Harvest Finance (FARM) do?
Besides governance, Farmcoin also has a number of DeFi use cases within the platform. In essence, it is used for staking on the Harvest Finance platform. Users who stake their tokens receive a varying amount of annual percentage yield (APY) return depending on the particular asset. In other words, they earn passively through an interest-like mechanism. Currently, the platform provides 17% APY per annum for its own asset, Farm. According to available data, Harvest Finance has a TVL of $206 million. It also has a 52.96% price-to-earnings ratio in the pools it offers.
What is the price of cryptocurrency?
We answered the question of what is farm coin. Let’s take a look at the current price action. According to CoinMarketCap data, Farm made $285 ATH in the last months of 2021. However, the bear market that emerged with 2022 caused the price to drop. Having dropped to $88.20 on January 22, Farm enjoyed a steeper rise on February 4. It then rose to $114.31 on March 20. However, it fell in parallel with the market in the following months and was trading at $ 38.94 on November 3, the date of writing.
Farm coin reviews and price predictions
According to PricePrediction data, Farm coin will rise 21 times from its current price by 2030. Accordingly, the platform predicts that the token will reach $2,387. There is also a bullish prospect in a shorter-term perspective. Harvest Finance price forecasts show $141.98 in 2022 and $440.65 in 2025. Other predictions of analysis platforms and experts are as follows:
- According to TechNewsLeader’s Farm price estimate, the token has the potential to reach $170.99 in 12 months and $524.48 in five years.
- DigitalCoinPrice’s Harvest Finance price forecast predicts that the coin will average $216.72 for 2025 and reach 460.43 for 2029.
- Gov.capital’s Farm coin comments show a 12-month price target of $370. But the platform offers a negative view of its five-year forecast. Accordingly, Farm may drop to $83.37 in the coming years.
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