Yearn Finance: Q1 Earnings Up And Ready To Outperform Bitcoin’s Value

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Last Updated on 6 November 2023 by CryptoTips.eu

Back in November of last year, when Bitcoin traded at around $20k, Andre Cronje’s DeFi project Yearn Finance looked ready to flippen the price of Bitcoin for a second time, after having achieved the feat for a first time during the summer months of 2020.

Now, as DeFi has matured and Yearn Finance is making more money in a month than it previously did in a quarter, Yearn Finance is ready to flippen the Bitcoin price again.

Only difference is that both Yearn Finance and Bitcoin are now trading at around $50K. Back in November, we already assumed that:

Andre Cronje’s team just might have created a winner there.

Now some six months later, this might be right.

Advertentie.

Q1 report

Yearn Finance indeed presents itself as a professional company as of late, with a notice a week ago that they had released a Q1 report, audited by a licensed accounting firm.

The report showed that the platform had earnings of $4.88 million for the first quarter of 2021.

This surprised many onlookers as Andre had taken a different approach than most other crypto developers in the past six months, and seemed to have headed on a spending spree.

His ecosystem has expanded, with entities like Pickle and C.R.E.A.M. joining his company. In the end, it all seems to work fine thought.

By now, it looks like Yearn Finance is an established company paying salaries (in crypto) to some 15 employees. If Wall Street is indeed looking for a trustworthy name to invest in outside of the CoinMarketCap top 10 of best known cryptocurrencies, looks like Yearn Finance is a company that aims to present itself as a serious future bet.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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