FARM is a token powering Harvest Finance — an aggregator platform designed to help its users maximize their yield farming profits. Harvest Finance was launched in September 2020.
As DeFi space grows, so does the popularity of yield farming — the way for crypto investors to earn passive income on their funds after locking them into smart contracts. For example, one may become a liquidity provider (LP) by lending their money to a DeFi entity, which pays interest on those deposits.
Yield farming can provide handsome rewards, but there are some complications, too: to get the best interest rates and account for losses, yield farmers have to use increasingly elaborate schemes of taking profits, closing out their positions, reinvesting, and so forth. Also, as with all crypto, all transactions have associated fees and gas costs, which are not always feasible for small investors. Harvest Finance solves these issues by:
- Gathering large pools of currency from its users and investing them in bulk to spread out the costs;
- Automating the farming process by reselling, compounding, and staking users’ funds.
70% of the profits generated by Harvest go back into farming pools to get more yield. Another 20% get distributed as rewards for farmers who staked their FARM tokens into the Rewards pool (also denominated in FARM). The remaining 10% is used to increase the value of iFarm — Harvest’s yield-bearing token.
Harvest Finance Price Chart
In October 2020, soon after its launch, Harvest Finance went through a flash loan attack that seriously breached the trust in the project, bringing Harvest’s native token price down more than 3x, to around $100. As the Bitcoin bull run gained momentum in early 2021, however, FARM price managed to recover, hitting upwards of $425 at one point in February. Harvest Finance’s price lost some steam after that, slowly declining to the levels just above $100 before the May market crash, then going further down and trading at $50–$60 throughout the first half of the summer. The end of July brought some very good news for the FARM bulls — the Harvest token was listed on Coinbase, which is often interpreted as a vote of confidence. At the beginning of August, FARM was trading above $250 again; with the market on the upswing, this could be a sign for some to get into farming.
Harvest Finance Technical Analysis
Despite the fact that 100% accurate technical analysis for Harvest Finance cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated FARM buy-and-sell rating for selected timeframe. The summary for FARM/USD is based on the most popular technical indicators — Moving Averages, Oscillators, and Pivots.
Harvest Finance Price Prediction
Below we have collected the most reliable price projections for Harvest Finance (FARM) from popular forecast platforms.
#1. WalletInvestor FARM Price Prediction for 2021, 2023, 2025
According to WalletInvestor, Harvest Finance's price will drop from $307.1 to $161.268 in one year, which makes FARM a poor investment option. The long-term earning potential is -47.49%.
#2. TradingBeasts FARM Price Prediction for 2022
Answering the question about if Harvest Finance is a good investment, TradingBeasts say a resounding no. In the 2021 perspective, this coin price is predicted to reach $156.035 with a growth to $289.977 by the end of 2022.
#3. DigitalCoin FARM Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of Harvest Finance cryptocurrency will rise in the next 5 years starting from $279.179 as of today’s price to $1143.5197385. It will go up to $455.3890571 by 2022 and continue its growth in 2023–2024. Based on this forecast, Harvest Finance is a profitable long-term investment.
Summary
As it can be clear from the analysis cited above, Harvest Finance (FARM) projections are rather contradictory. There is no universal consensus either about positive or negative future FARM price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Harvest Finance projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
How to buy Harvest Finance?
Just go to SwapSpace and follow these easy steps:
- Choose the exchange pair and the amount for your exchange and press the “View offers” button.
- Select the best exchange offer. You can sort them by better rates, exchange trust rate or fixed and floating exchange options.
- Provide the recipient address to which the coins will be transferred.
- Transfer your money to the exchange service.
- Just wait until you'll see FARM in your wallet!
About SwapSpace
SwapSpace is a cryptocurrency exchange aggregator that allows to swap over 700 cryptos with both fixed and floating rates. We gather the rates of major crypto exchanges on the market onscreen and let our users compare and choose whatever option they like the most. We don’t add any fees over the partners’ rates, which makes the exchanges via SwapSpace profitable. The exchange time is no longer than at any of our integrated services starting from 10 minutes. SwapSpace support works 24/7.
Passionate about crypto and want to get more news and price predictions daily? Join SwapSpace’s blog!
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
Latest articles:
Dash price prediction
Smooth Love Potion price prediction
