Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details Token Reaches $90k Price

CryptocurrencyMay 14, 2021 01:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items Token Reaches $90k Price

  • Altcoins are performing brilliantly in the market, with values skyrocketing.
  •’s token YFN reached an astonishing high of $90,000 in the early hours today.
  • The crypto asset management platform has recovered from its earlier business issues and looks set to dominate the market.
  • is performing strongly in the YFN/USD and YFN/BTC exchange pairs as more money flows into its platform.

The rise in the value of decentralized finance solutions has reached, with its native token YFI surging in recent weeks. The price rose above the $90,000 mark, recovering from poor months in the past.

Earlier this week, the asset traded high, with the YFI/USD pair trading at over $68,000 and the YFI/USD trading at 1.192 BTC. Though Yearn has been weaker than other assets this year, it joined the highest gainers this week as popular assets like Dogecoin, Bitcoin, Litecoin, and Polkadot struggled. The additional inflow of collateral is primary to the recent surge in the price of Yearn.

What is is a DeFi solution that allows users to enjoy an advanced way of managing their cryptocurrency and digital assets to make a profit through trading and lending. has proven to be a high-yield farming platform.

Operating on the Ethereum blockchain, eliminates the need for intermediaries and uses codes and smart contracts to make the process seamless and provide incentives.

Users earn YFI tokens by locking up their cryptocurrency in contracts which run on the Balancer and Curve trading platforms. The more assets users lock on the platform, the more YFI tokens they get as yield. operates with several protocols to give its users the best liquidity, providing an avenue for them to earn more cryptocurrency.

On the Flipside

  • will suffer in the market if users reduce locked-up assets as a result of a bearish market in the future.
  • With lots of competition and increased annual percentage yield, APY.Finance may make users switch to other platforms.

Recent Developments And The Reasons For The Spike has been struggling in the past months for reasons that ran deep into its inflow of liquidity. The major problem was a lack of funding as there were no reserves, which limited it from gaining exposure.

The creator of even went so far as expressing his displeasure through a blog titled, “Building DeFi sucks.” In recent weeks the community-initiated and passed two proposals that have turned the tide. The “buy-back and build program” made more YFI available for redistribution and the second proposal, “Build Yearn’s Future,” led to the minting of 6,666 YFI tokens to fund more contributors.

Another reason for the rise in its value is the upgrade to Yearn v2 following numerous criticisms of the previous version. Yearn v2 offers users multi-strategy vaults, a new fee structure, and a new partnership with Cream. Frax Finance has also added its stablecoin to the Yearn platform.

As a result of these events, the collateral locked on’s platform has more than doubled since April, to over $4 billion. The future of looks very bright, as the community seems determined to strengthen its platform, thereby attracting more locked collateral.


Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin Token Reaches $90k Price

Related Articles

US Senator Cynthia Lummis: I Am All on Bitcoin
US Senator Cynthia Lummis: I Am All on Bitcoin By CoinQuora - Jun 17, 2021

According to the Reason Podcast, US Senator Cynthia Lummis is all on Bitcoin Also, she praised BTC’s privacy features. According to the Reason Podcast, US Senator Cynthia...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email