DeFi Project, yAxis (YAX) Could Follow YFI’s Parabolic Rise – Popular Ethereum Whale

  • Ethereum whale says unpopular crypto yAxis (AXIS) would become the next yearn.finance YFI
  • The Ethereum whale with the user name, 0x_b1, holds over $1.9 million in Ethereum, and over $429 million in other DeFi assets
  • yAxis is up by over 1,600 percent in the last four months, YAX now trades at $35 per token

A well known Ethereum whale has recently named an unfamiliar decentralized finance (DeFi) crypto as the next in the industry that would surge.

The Ethereum whale known as 0x_b1 who joined social media seemingly as an experiment made his claims known in response to questions from other users seeking to know the next big thing after Yearn.finance’s (YFI) parabolic rise.

The portfolio of 0x_b1 holds the largest known tokenized versions of BTC, ETH, and LINK earnings on DeFi protocols. 0x_b1 Tweeted;

yAxis is easy 2x to 4y from here. news isn't even out, new UI on standby & we're donating another 5000 $YAX to the next epoch of YAX-ETH LP to bolster plans of @yaxis_project and @transferAndCall.

$YAX highest likely compared to what the $YFI ecosystem looks like. more community dev driven

The Ethereum Whale 0x_b1

Although very little is known about the Ethereum whale, his address currently holds 1,240.78 ETH, which is worth over $1.9 million going by the current value of the asset. His address also holds over $429 million worth of various ERC-20 tokens.

The user, 0x_b1, has signed its address on the blockchain to confirm his holdings and that they are who they claim they are. He takes to the microblogging site, Twitter to discuss and analyze crypto projects, especially DeFi projects.

What is yAxis (YAX)?

yAxis is a meta yield aggregator, designed to help passive investors generate maximum income from the DeFi ecosystem with little effort.

The project uses a unique decentralized autonomous organization (DAO) that chooses the best APYs for a user. It also accounts for factors that include withdrawal fees, market sentiment, and price slippage when converting assets.

The experimental DAO technology used by yAxis would be the advisor for using ‘robo-advisors.’ It would also be responsible for the voting of the best yield while pooling gas fees.

On the Flipside

  • After a week where the Reddit Army silenced Wall street, a number of the popular shares backed by the Redditors have begun to plummet
  • Gamestop shares dropped over 60 percent on Tuesday, while AMC dropped more than 49 percent
  • Crypto advocates believe the only true way to beat the bankers and Wall Street is to leverage digital assets like Bitcoin

Market Performance of yAxis (YAX)

The native governance token YAX is intended to have no value. However, the protocol’s DAO can vote to have YAX holders take a share from user profits.

At the time of this writing, a YAX token is trading for $35.41. A YAX token traded for $4.03 at the start of the year. In October 2020 when tracking for the yAxis (YAX) started, the token traded for $2.5; more than 1,600 percent growth in the last four months.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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