If this sudden huge interest in this type of token turns out to be only a temporary trend, many of the gains made in the last few days could sooner or later be lost. It should be noted that, after the enormous success of Dogecoin, tokens inspired more or less directly by dogs have been proliferating for a few days now, and WUFFY is no exception.

However, the initiative does not please everyone and has even been criticized by some. WUFFY is said to be merely a means of renaming YFI holdings for the new Woofy Finance interface that offers two-way conversions from YFI to WUFFY at a ratio of 1 to 1,000,000. The almost 20 surge represents a significant deviation from the price movements of other cryptocurrency assets. In less than two hours the YFI went from trading at around 29,000 to more than 34,500. Rumours of a new project and a new token, called WUFFY, have been circulating recently and this may have triggered the buying spree. YFI Surges By 20 Following Coinbases Announcement In the hours following the announcement, YFI token saw a steep price increase. The yearn.finance is an ecosystem of different protocols that aggregates funds and diverts liquidity to different DeFi applications in order to find the best returns. The new project that pushed Yearn Finance to an all-time high YFI is the governance token that governs the yearn.finance ecosystem. In mid-January, Yearn V2 was launched, and in the following months, the total value locked in Yearn Finance’s pools reached $4.2 billion, more than doubling since last month. Since then, the price has increased a hundredfold in about 10 months.īy September it had already surpassed $40,000, but by November it had fallen back to around $8,000.

YFI only made its debut on the crypto markets in July of last year, at a price of around $800. The increase is 70% over the past two weeks and 268% since the beginning of the year. With only 36,000 tokens in circulation, its total market capitalization is still less than $3 billion, which is not even enough to enter the top 50 cryptocurrencies by market cap, but the 23% increase in the last 24 hours alone makes it one of the best performing cryptocurrencies today. The summary of YFI is based on the most popular technical indicators, such as Moving Averages, Oscillators and Pivots. Today, the price of the Yearn Finance (YFI) token hit a new all-time high of $90,000. This gauge displays a real-time technical analysis overview for your selected timeframe.

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