![]() ![]() ![]() The DeFi project of Yearn Finance was officially released around the 17th of July. Having arrived in the crypto scene in mid-July, Yearn Finance has had a meteoritic rise since the digital asset of YFI was listed on the popular crypto exchanges of Binance, Poloniex, FTX and Gate.io. A Brief History of Yearn Finance (YFI) in the Crypto Markets However, as with the COMP token a few days back, YFI risks experiencing a hard correction with the 200 MA on the 1hr chart serving as strong support around $8,200. ![]() From the 1-hour chart below, it can be observed that there is still considerable buying interest that could propel YFI back to around its all-time high value in the right market environment. A Brief Technical Analysis of Yearn Finance (YFI)īeing a relatively new token in the crypto-verse, the YFI/USDT chart can only be analyzed using low time frames such as the 1hr and 6hr. At the time of writing, YFI is trading at $14,675 having posted an all-time high value of $16,700 – Binance Rate – only yesterday, August 20th. YFI is the sole governance token of Yearn Finance and is distributed to users who provide liquidity on the platform.Īs Bitcoin traders are busy analyzing the possibility of BTC breaking and maintaining $12k, another digital asset by the name of Yearn Finance (YFI) is trading above BTC’s current price levels.YFI has a very low circulating supply of 29,962 making it very responsive to demand.The popularity of DeFi is one reason YFI is gaining in the market.Yearn Finance (YFI) has eclipsed Bitcoin’s value and posted a new all-time high of $16,700. ![]()
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