NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Yearn Finance’s YFI Hits All-Time High as Its TVL Reaches $676M

Yashu Gola
Yashu Gola
4 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

YFI reached an all-time high this Thursday as the total value locked on its parent protocol, Yearn Finance, grew to over $676 million.

Investors continue to pour capital into the yEarn, a smart contract that allocates those funds into the lending projects with the most attractive yields. Meanwhile, YFI acts as a governance token for the Yearn Finance protocol. The token works as a staking asset that enable its holders to vote on the Yearn project’s overall direction.

YFI Ballistic

The YFI/USD exchange rate opened in mid-July at a humble $38. Nevertheless, the pair’s sudden jump to above $1,000 in early August started a new wave of buying sentiment. As of Thursday, it had hit $13,767, its record peak to this date.

yfi, yfiusd, yearn finance, yfibtc

Yearn Finance chart on TradingView.com shows YFIUSD in a parabolic upside move.

According to the most common theories, the surge in the YFI token followed a hype surrounding the emerging decentralized finance projects. Traders who are looking to cash on the so-called DeFi craze spot cheaper tokens and pump them. A crowd follows the upside action to buy the same cryptocurrencies at higher highs.

Almost all the DeFi tokens that entered trading before YFI are sitting atop humongous profits. The Yearn Finance cryptocurrency, therefore, is merely cashing on the wild craze.

Part of traders’ overly bullish bias towards YFI also comes from their love for scarce tokens. YFI’s total supply stands at 30,000. At the same time, the DeFi hype ensures a mindlessly booming demand, leading the price of YFI exponentially higher.

yfi, yfiusd, yearn finance, yfibtc

Total value locked inside the Yearn Finance smart contract. Source: DeFi Pulse

That is despite the Yearn Finance founder’s warning about the YFI’s lack of value. Andre Cronje stated in his introductory post that the token is “completely valueless.” But the advice so far has fallen on deaf ears. YFI continues to break records, even as it becomes the first altcoin to beat the benchmark cryptocurrency Bitcoin in terms of market pricing.

More Gains Ahead

Trading circles are already predicting an extended bullish move in the YFI market. Major holders include Framework Ventures, which is now in the Yearn Finance to earn staking rewards. A notable cryptocurrency analyst tweeted earlier Thursday that he sees YFI at $15,000 based on the supply-demand factor alone.

“Imagine buying Bitcoin a month ago at $2k and it shooting up to its current $12k value,” said Josh Rager. “Everyone would die for that opportunity.”

There’s also a word of caution against Yearn Finance’s unaudited status as a smart contract that is holding hundreds of millions of dollars worth of cryptocurrency tokens. The project last week fell victim to a bug that put its $750 million TVL at risk.

“If the bug had put that TVL at risk it would’ve been extremely detrimental to DeFi and the Ethereum ecosystem on a similar scale to the DAO hack,” noted data aggregator firm Messari.

Investors are venturing far out on the risk spectrum, willing to put millions into an untested project to capture maximum returns, it added.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

DOGE

DOGE Bulls Hold The Line At $0.15 — Is The Rally Still Alive?

Dogecoin (DOGE) prices have crashed by over 4% in the past month indicating a slightly dominant bearish influence in recent...

Semilore Faleti 5 hours ago
Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Een top crypto analist heeft op Tradingview zijn licht laten schijnen op de Dogecoin koers. Volgens SwallowAcademy kunnen we binnenkort...

Lars Diederiksen 7 hours ago
Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum Wyckoff Accumulation Hints At Explosive Q3 – $4K Level In Sight

Ethereum is trading just above the $2,500 mark following days of volatility, choppy price action, and uncertainty across crypto markets....

Sebastian Villafuerte 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Must Hold $106,000 And $98,000 To Avoid Breakdown

Scott Matherson 24 minutes ago
Bitcoin

Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

Christian Encila 1 hour ago
Bitcoin

Bitcoin Consolidation Continues: 2 Key Support Levels To Watch

Semilore Faleti 3 hours ago

Premium Sponsors

Press Releases

  • Cryptocurrency is the best way to get rich quickly, easily...

    12 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    19 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    23 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    23 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.