As new protocols are introduced, the DeFi space becomes increasingly complicated. Harvest Finance promises to assist less-experienced users in yield farming and obtaining the most significant DeFi yield while saving time and money.
Harvest Finance was created by an unnamed group of programmers. Only a few community managers who donate their time provide visibility to the team.
The governance token of Harvest Finance, FARM, allows token holders to have a say in Harvest’s treasury and future development protocol. Holders of FARM tokens are eligible for a 30% discount on protocol costs.
Harvest Finance collects cash from a variety of yield farmers in order to let users do yield farming more efficiently, saving resources like money and time.
Continue reading to understand what is FARM coin and Harvest Finance Price Prediction 2021 and for the next five years.
What is the Harvest Finance (FARM)?
Harvest Finance is a yield optimizer that distributes funds across the decentralized finance (DeFi) ecosystem in order to create yields. FARM token is an Ethereum token that powers Harvest Finance, which can be used for staking and yield farming.
Users can earn staking rewards when the protocol executes yield farming strategies (to allow users to stake their assets). Staking, governance, and Liquidity mining are the critical functions of the FARM coin.
Users that invest in the profit-sharing pools with FARM are eligible for a performance fee based on the yield farming tactics. To improve their returns, users’ FARM tokens are automatically collected and re-staked in the profit-sharing pool.
Last year, hackers launched a massive attack on Harvest Finance crypto (FARM). The Decentralized Finance (DeFi) system was depleted of $34 million on 26 October 2020. The hackers obtained a large sum of USDC and USDT stablecoins from the Harvest Finance pool.
The news did not go unnoticed by investors. As a result, Harvest Finance crypto lost 60% of its value as investors sold their holdings. Additionally, the platform lost $400 million in liquidity due to liquidity sources fleeing the platform. GRAIN tokens were distributed to users who were impacted by the attack on a pro-rata basis based on their deposits.
FARM plummeted below $100 per token after reaching a peak value of over $320 per token as word spread. On the other hand, Harvest Finance bitcoin was able to ride the upsurge at the start of 2021, and it was only a few days ago that it was trading well below $100.
Harvest Finance’s efforts as a yield optimizer are powered by an Ethereum-based token, and its Coinbase listing has proven to be a big accelerator.
Let’s understand the FARM price prediction now.
Price Analysis of the Harvest Finance Protocol
Flashback: Historical analysis of FARM
With a live market cap of $83,754,868, the current CoinMarketCap ranking of FRAX is 428. FRAX has a circulating supply of 16,209,405 FXS coins, and its maximum supply is limited to 16,209,405 FXS coins.
Harvest Finance (FARM) Price Prediction 2021
FARM token will hit a high of $166 in November 2021, before falling to $159 by the end of December 2021.
Harvest Finance (FARM) Price Prediction 2022
FARM’s price projection for the beginning of January 2022 is $167.34, whereas it will suddenly plummet to $27.4 by the end of March 2022. However, on 8 June 2022, the price of the FARM coin will rise to $151.
Harvest Finance (FARM) Price Prediction 2023
The minimum price of a FARM coin during 2024 is expected to be $642.9, and a maximum price of $763.2. The average price of a FARM token will be $661.2.
Harvest Finance (FARM) Price Prediction 2024
FARM currency is anticipated to reach a maximum price of $1106 in 2024, with a minimum price of $937. A FARM token will be priced around $970 on average.
Harvest Finance (FARM) Price Prediction 2025
By the end of 2025, the FARM coin will be valued at $675.31, representing a 270.18% change in the FARM coin’s price.
Harvest Finance (FARM) Price Prediction: Market Sentiment
Let’s review the FARM token’s price projection by popular media portals in the following section.
Harvest Finance’s price is expected to drop from $243.6 to $224.9 by the end of 2021, according to WalletInvestor. It has a long-term earning potential of -7.65%, making it a poor investment for a portfolio.
Digital Coin Price
The price of Harvest Finance cryptocurrency will climb by 2025 from $243.7 to $998.3, according to DigitalCoin’s price analysis of the token.
The maximum FARM token price for the month of December 2021 is $243.4. In November 2023, FARM investors can get $370.56 for each FARM coin, and in December 2025, they can earn $949.50 for every FARM coin.
Coin to Buy
By the end of 2021, Coin to Buy predicts that the FARM tokens will be worth $250. representing $10.66 change since August 2021.
Due to the popularity of the FARM token, Gov Capital predicts that the FARM coin will be worth $159.3 on 29 October 2021. However, the coin’s price will dwindle to $151.3 on 30 November 2021, whereas the year-end price of the FARM coin will be $159.8.
10 June 2022 will be doomsday for FARM token holders as they are expected to lose their money since the coin will be priced at $1.22.
The maximum Harvest Finance price in the next three years could be $5355.4, and the lowest Harvest Finance price could be $130.2.
According to coin codex, the price of FARM will reach $245.58 by the end of December 2021. The FARM coin, on the other hand, may approach $900 in the next five years.
Our Harvest Finance (FARM) Price Prediction
Investing is all about putting your money to work for you, and that is precisely what the Harvest Finance cryptocurrency initiative was created to accomplish. So it is no surprise that investors flocked to the coin after it was listed on Coinbase.
The hack does lead to a dire fate for the FARM token; however, its developers are working very hard to make Harvest Finance a secure platform.
Harvest Finance’s price has dropped by -75.40 percent in the last year. However, since last month, it has had green days, i.e., it is up by 40 percent. As a result, Harvest Finance is now profitable to invest in, based on its historical statistics.
We expect that the price of the FARM coin will reach at least $249 by the end of 2021, and in the next five years, it may reach $1000.
Despite the current rally, it is still trading at a significant discount to its year-to-date highs. Any asset that more than doubles is likely to see a sell-off. Therefore, the FARM coin is still a good investment.
Although the expectations are optimistic, we suggest you invest carefully due to high volatility in the crypto space.
Harvest Finance is a protocol that offers yield farming opportunities and is designed for users who want to invest their assets in high-yielding farming prospects.
Harvest will appeal to those who are unable to handle their decentralized finance (DeFi) positions 24 hours a day, seven days a week – which is the majority of people these days.
The fundamental rationale for using Harvest Finance is that manual farming takes too much time for the typical person. Even if you have the time, rising gas prices can make most yield farming tactics unaffordable for most traders.
Harvest, on the other hand, can save money on gas costs by pooling cash. Yield farming is not going away, even with the recent slowdown. It is also unlikely that gas prices will fall any time soon. As a result, Harvest Finance provides a simple and cost-effective option to get involved in yield farming.
Based on Harvest Finance (FARM) price prediction, the FARM coin is expected to lie between $248 and $250 by the end of 2021. However, one must be cautious before making any investments. With lots of funds injecting across different DeFi protocols, smart-contract knowledgeable hackers will always be on the lookout for an exploit. Invest rationally!
The author’s views are their own and do not necessarily reflect those of Cryptoknowmics or the Harvest Finance Protocol’s founders and other affiliates. This post is meant to provide basic information about FARM tokens only and should not be perceived as investment advice.