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$407.71 -0.44321
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BNB (BNB)
$407.71 -0.44321
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Solana
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$133.88 1.25465
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$0.5928130 -1.53848
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Shiba Inu
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$0.0000133 -3.59915
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Pepe
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$0.0000036 22.67879
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El Hippo
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$0.0000239 4.84969
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$3,440.84 -1.19881
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$407.71 -0.44321
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$133.88 1.25465
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$0.5928130 -1.53848
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Shiba Inu
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$0.0000133 -3.59915
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Pepe
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$0.0000036 22.67879
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El Hippo
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$0.0000000057990 -1.46
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$0.0000239 4.84969
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Bitcoin
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$3,440.84 -1.19881
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$407.71 -0.44321
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Solana
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$133.88 1.25465
Solana price
XRP
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$0.5928130 -1.53848
XRP price
Shiba Inu
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$0.0000133 -3.59915
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Pepe
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$0.0000036 22.67879
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$0.0000000057990 -1.46
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$60m of YFI posted on Yearn Finance, analysts say this could shift prices

60m-of-yfi-posted-on-yearn-finance-analysts-say-this-could-shift-prices
Edited by
News
$60m of YFI posted on Yearn Finance, analysts say this could shift prices

Two transactions worth nearly $60m in YFI, the native governance token of Yearn Finance, a DeFi protocol, have been posted on the platform, Santiment data on Feb. 8 shows.

It is the first notable multi-million dollar transfer in three months, according to the on-chain intelligence and data platform Santiment. 

https://twitter.com/santimentfeed/status/1623415665859379200

The two transactions are worth 3.9 times more than “any others in the past three months.” Each was worth $29.8m in YFI, totaling $59.6m by the time of transfer.

The assets were sent to “known proxy and whale address, respectively.” The on-chain intelligence platform believes these transactions could indicate that price trends are beginning to shift.

YFI has recovered from $5,100 at the start of 2023 to roughly $7,600 at the time of writing, according to CoinMarketCap (CMC) data. In May 2021, the token rallied to reach an all-time high of $93,435 with a market cap of over $3 billion.

When Andre Cronje, Yearn Finance’s founder, announced his exit from the DeFi and crypto space, YFI’s price started to plunge. The token’s price dropped to a 52-week-low of nearly $4,000 from the tip of the $27,000 mark, per CMC data.

On Jan.9, 2023, the DeFi platform introduced yVault for users to create permissionless vaults for their assets.

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