Yearn.finance Price Reaches $20.000 during DeFi Boom

by in Cryptocurrency News

YFI price 11.11.2020

Yearn.finance is one of the projects that profited most in the last 24 hours after a huge rally. It is up about 27% to price at $18,790. YFI has a market cap of $549.9M with a 24-hour volume of $783.95M.

Lately, the decline beat a market lower at $8,000, enabling bulls to move their focus higher. Moreover, the token was immensely oversold, requiring a restoration. The DeFi industry experienced challenges due to the selling tension in the last few months. As BTC surged to new yearly highs, tokens in this comparatively new ecosystem found themselves in a tough situation. Yet, a look at these tokens displays an impressive return this week.

Aave, UniSwap, Compound, and other tokens made progress.

Trending: Crypto market cap hit a new high reaching $1.7 trillion

YFI seems to be securely in the hands of the bulls despite the unexpected increase from $8,000. The opposition was met under $20,000, provisionally stopping the breakout. Some analysts believe that Yearn.finance is likely to reach higher levels, possibly $30,000.