YFI, the governance token of the DeFi yearn.finance platform, has just jumped to 40k, here I show you why.
In the last 24 hours the DeFi YFI token has jumped up almost 15%, leading to a current price of $ 38,000. There is a fundamental reason behind this rise, and it is the one I indicate below.
DeFi yearn.finance platform launches Vaults v2, pushing its YFI token higher
Finally the decentralized protocol yearn.finance released the long awaited update of its Vaults. Despite the fact that the details are still scarce, the platform's governance token took the opportunity to jump 15%.
Yearn.finance announced the update from its official Twitter profile.
https://twitter.com/iearnfinance/status/1350957740680736771
- iearnfinance
Lately the platform had been showing inconspicuous returns. Because of this, a good deal of liquidity began to flow out of the Vaults.
Since yearn they hope that the update that will bring with it new yield strategies, will attract farmers again.
For now, the yearn.finance page continues to show Vaults v1, where the one that offers the highest yield is curve.fi/BUSD with approximately 20% per year.
The new list of Vaults to arrive with the update was recently leaked, where at first glance there does not seem to be much difference.
https://twitter.com/calamenium/status/1350977819183108101
- calamenium
Technical analysis of the yearn.finance token
The weekly chart of YFI vs USD shows us a good performance, indicating that the rise should be lasting longer in the near future.
After a week of decline that ended leaving rejection of bearish intentions, this week with the jump that we are seeing the DeFi YFI token is resuming the medium-term trend, and should soon be looking for its previous all-time high.
Short term trend
In the time frame with daily candles we also observe an upward trend, in this case in the short term, being resumed at this time.
Currently a momentum of this trend is developing, being hampered by the immediate resistance zone. The odds are on the bullish side, the barrier should be crossed in the next few hours.
At the time of publishing the post, yearn.finance is listed at around 37,800 on the ProBit exchange .