What is Farm and iFarm?
Farm is the Governance token of Harvest which is a Decentralized Finance protocols. Since it is a governance token that means the holders can participate into voting process which happens in the harvest.finance.
iFarm is the ERC-20 token which works like Farm and it is as a result of owning Farm or i can see its just proof of owning Farm tokens.
How did Farm Token emerge?
Farm was launched in September 2020 and it was trading at a price of which was high. Considering it was supposed to maintain that price and continue pumping but the unfortunate happened, it was hacked and millions worth of Farm tokens were stolen and the market responded and it fell hard.
It lost more than 50% of its value that day. Currently its Return on Investment is down 96.8% and the price is trading at $69.85.
It is creating a W formation and it is on the second leg, if it manages to trade above $100 then it will be a sign of higher chances of going to the moon. Of course a lot of work has to be done for it to jump start and i think it should be listed on more liquid exchange platforms like BINANCE so that the daily volumes and capitalization will increase.
Is the Current price good?
To those who bough it above $100 its a bad price as they are holding loses now, but if you are someone who is looking for investment then this is the time to look for buy opportunities then buy and hold. This token will be the next yearn.finance as it has a perfect supply.
Conclusion
I would b happy if the price stay at these levels for the next few months until i accumulate more Fam tokens at lower prices. So for those who are looking for investment opportunities this is another opportunity.
