Yearn.finance (YFI) gains 36% as DeFi tokens follow Bitcoin’s bullish trend

Yearn.finance (YFI) gains 36% as DeFi tokens follow Bitcoin’s bullish trend

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%.....


Related News

Yearn.finance (YFI) Tests Key Support as Funding Rates Flip Negative

Yearn.finance’s YFI token has been facing some intense selling pressure today as the focus shifts back to Bitcoin. YFI and other blue-chip DeFi tokens have posted some massive gains throughout the past few days, with the Yearn ecosystem’s token rallying from lows of $7,500 to highs of $18,000 over the course of an hour. Other […]

What is Yearn.finance (YFI) and how does it work?

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) Invalidates Bullish Market Structure; Analysts Eye Furthe...

Yearn.finance used to be the darling of the DeFi sector, with investors pouring massive sums of capital into the YFI token while largely looking towards it to become one of the largest and most widely used platforms within the decentralized finance ecosystem. The sentiment surrounding the Yearn project began to shift a few weeks ago, […]

Yearn.Finance (YFI) Could Fall To $15K “If” Bitcoin Brings Down Crypto

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 […]

DeFi Tokens Are The Winners Of The Recovery Trend With Double-Digit Gains

The decentralized finance (DeFi) space has not been left out of the relief rally that has been rocking the crypto market. While other top coins are doing well, the DeFi tokens seem to have taken this one step further as they make a splash across the charts. With Ethereum leading the charge, these DeFi tokens […]