Finance

Yearn finance (YFI) positive aspects 36% as DeFi tokens observe Bitcoin’s bullish development

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

In the past 72 hours, Yearnfinance (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/USDT daily chart. Source: TradingView.comRevenue change versus token price change of major DeFi networks. Source: Twitter.comTotal value locked in Yearn.finance. Source: Stats.finance

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Steven Gregory