Yearn Finance’s YFI Plunges 10% On Profit-Taking; Crash Ahead?

Yearn Finance’s YFI Plunges 10% On Profit-Taking; Crash Ahead?


An overnight pump that pushed popular decentralized finance token, YFI, up by 23 percent, has entered a bull trap.

The Yearn Finance governance cryptocurrency fell 10 percent this Friday from its intraday top at $36,043. Its plunge appeared as a part of formal downside correction that typically follows price rallies. Traders apprehensively bought spot YFI at its session low, only to sell the token later at an excellent high.

YFI, yearn finance, cryptocurrency, YFIUSD, YFIUSDT, YFIBTC

Trending: Chris Wallace Gets Backlash from Fox News Colleagues over Debate Moderator Performance

YFI/USDT plunges lower on profit-taking sentiment. Source: TradingView.com YFI/USDT plunges lower on profit-taking sentiment. Source: TradingView.com

While the pump-and-dump was purely technical, what transpired the YFI price rally stood firm. Coinbase Pro, one of the world’s leading crypto firms, announced Thursday that it is going to list YFI-enabled trading pairs on its platform from next

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!