Yearn.finance mergers and sideways Bitcoin price propel DeFi tokens higher
Select DeFi tokens have outperformed Bitcoin and altcoins as investors cheer the news of mutually beneficial partnerships. Yearn.finance has been busy announcing a slew of mergers in the past week, and these have the decentralized finance space buzzing once again. Just after the Yearn and Pickle Finance merger, Yearn has announced a partnership with Cream to launch Cream v2.Some of the key takeaways are that teams from both protocols will merge their development resources and Yearn vault shares can be kept as a collateral to borrow on Cream. Yield farmers might also benefit as Yearn vault....
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Yearn Finance looks like it could assemble the Amazon of DeFi. If it does it, it will get there like everything else in crypto: way faster.
Yearn.Finance (YFI) is one of the most talked-about cryptocurrencies of 2020, both due to its scarce 30,000 token supply and its miraculous price increase to more than 1 BTC in value. However, the DeFi token could fall to $15,000 or deeper if Bitcoin brings down the rest of the crypto market. Yearn.Finance, Other DeFi Tokens […]
One of the fastest growing DeFi projects, Yearn.finance has spawned a range of core products that provide passive earnings on crypto assets. Launched in July 2020, Yearn.finance has emerged as one of the major players in the emerging decentralized finance (DeFi) space that provides services such as staking, lending aggregation and yield generation on the Ethereum blockchain. Boasting the most user-friendly crypto trading services that are being meted out autonomously, the project uses its native ERC-20 Yearn Finance (YFI) cryptocurrency to incentivize those who lock their crypto tokens in....
Yearn.finance (YFI) price surged by 58% in the last few days as three key factors suggest investors expect further upside. In the past 72 hours, Yearn.finance (YFI) surged by 58% after dropping to as low as $12,260 at a few exchanges. Three factors that may have catalyzed the sharp rebound are: YFI had become deeply oversold, lead developer Andre Cronje’s deep commitment to the project and the ever expanding use cases for YFI within a large ecosystem.YFI was deeply oversoldOver the past month DeFi tokens endured a brutal correction which saw the value of many DeFi tokens drop by 40%-70%.....
Yearn “acquisitions” dominated headlines this week. The biggest events in DeFi this week all involved Yearn.finance, the yield farming optimization protocol. I covered the first, Pickle Finance, in my last installment.Since then, we’ve seen integrations with Cream Finance, a lending protocol similar to Compound; Cover Protocol, an insurance provider that recently paid out users for the Pickle hack; Akropolis, another protocol primarily dealing with yield optimization; and as the most significant of all, SushiSwap, the decentralized exchange born as a Uniswap parasite.The Yearn ecosystem....