Will Yearn Finance favor bulls in the coming days? Look at YFI’s history first
On 3 March, most cryptocurrencies reported losses, but Yearn Finance (YFI) appears to have broken free from the general trend. The price movement indicated that it was trading profitably, adding to the days when it had closed trades profitably.
Realistic or not, here’s YFI’s market cap in BTC’s terms
On a daily time frame chart, Yearn Finance (YFI), at press time, was trading at roughly $10,900. It was trading at a profit of more than 2%, marking the third consecutive day it had done so.
Except for one day, it had traded profitably for the previous six days, bringing its overall gain to approximately 18%.
Source: TradingView
YFI had entered the overbought area due to the enormous price spike it was experiencing. Yearn Finance’s Relative Strength Index (RSI) line was over 70, suggesting a strong bull trend (YFI). As seen by the On Balance Volume, there was also a hint of price and volume convergence (OBV).
The 24-hour active address measure revealed that Yearn Finance (YFI) had seen a high activity level consistent with the pricing.
There appeared to be a rise on the daily chart, and as of this writing, there were 578 active addresses.
It was also possible to observe that the levels reached over the previous two days were the highest in over a year.
Source: Santiment
The announcement made by Yearn Finance last week is among the more plausible explanations for the sustained rise of YFI.
Yearn Finance revealed in a post in February that it would introduce Ethereum Liquid Staking Derivative (LSD).
As it aids in risk reduction and diversification, this kind of investment has been increasing in popularity.
Even when other assets are on a downward trend, this announcement has kept the token rising and created enough
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