Price Analysis: Litecoin, Yearn Finance, Uniswap And SushiSwap
A prominent cryptocurrency analyst Josh Olszewicz ran technical analysis on four popular altcoins: Litecoin (LTC), Yearn.Finance (YFI), Uniswap (UNI) and SushiSwap (SUSHI).
Litecoin (LTC)
Litecoin (LTC) is a Bitcoin fork created by Charlie Lee in 2011. The network has a target block time of two minutes and 30 seconds, as opposed to 10 minutes for BTC. LTC also has a four-fold increase in the maximum total supply, and uses a different Proof of Work consensus algorithm called Scrypt.
Yearn.Finance (YFI)
Yearn.Finance (YFI) is a decentralized finance (DeFi) platform with a native governance token used for voting rights and staking rewards to holders. The network is underpinned by the Yearn protocol, a yield optimizer that aims to maximize yields for a user’s crypto holdings by automatically switching funds across a range of lending protocols.
Developer Andre Cronje built the protocol in early 2020 after looking for a way to automate the process of finding the highest possible yields on his stablecoin holdings. Stablecoins like DAI (DAI), Tether (USDT), USD-Coin (USDC) can be deposited in return for yields on a number of platforms like Compound, Aave, Fulcrum, or dYdX, with each offering unique APY’s.
Uniswap (UNI)
Uniswap is a Decentralized Exchange (DEX) protocol founded by Hayden Adams in 2018. The DEX enables the trading of ERC-20 tokens, in a non-custodial manner, through a software or hardware wallet. Uniswap released a governance token (UNI) via airdrop on September 16th, 2020
SushiSwap (SUSHI)
Sushiswap is a fork of the Decentralized Exchange (DEX) Uniswap, created by the anonymous Chef Nomi. Both are built on Ethereum and enable the trading of ERC-20 tokens in a non-custodial manner. Sushiswap released a governance token (SUSHI) via airdrop on August 28th, 2020.
