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- 1 Yearn Finance TVL has not seen any significant changes since July 2022.
- 2 YFI is currently at a halt near a crucial support in the daily chart. It has seen a gain of 9% in the intraday session.
Yearn Finance is a great platform for DeFi investors who want to maximize their returns in the future. Their goal is to expand the DeFi space to the investors who are less tech savvy. It was initially launched in 2020 and was called iEarn back then.
Yearn Finance is the brainchild of Andre Conje who has a vast experience in the blockchain industry. The projects simplify yield farming for the investors and provide better return to them. Yearn Finance has a TVL of $454 Million which has remained stagnant since the start of this year. The median APY of the project is around 2.45% which has declined in the last three months. Meanwhile, the treasury of the YFI is around $44 Million as per defilama. YFI has a fixed supply of 36,666 coins in which 100% of the supply is circulating in the market. Yearn Finance protocol is currently seeing a strong adaptability and can see a new high in the future.
Yearn Finance has a market cap of $238 Million and is ranked 124th in the CMC. The volume of the asset price has observed a surge of over 271% in the intraday session. Volume to market cap ratio of YFI suggests a consolidated trend in price.
Are YFI Bulls Ready For A Strong Move?
Yearn Finance is currently seeing a weak bearish momentum on the weekly technical chart. On coming to the daily chart, the asset price is seeing a strong upside recovery. YFI is currently trading near the value of $7235 with a gain of 9% in the intraday session. The upside trend of YFI can see a halt near the value of $8000. Meanwhile, the support of the asset price can be seen near $7000. YFI price is currently between 100 and 200 EMA. If the price surges beyond 200 EMA, then a strong upside trend can be seen in the future.
The RSI of asset price is near 67 with a strong positive slope in it. The overall sentiment of the indicator is neutral.
Summary
Yearn Finance TVL has been consolidating since the last one year. YFI asset price is currently in a consolidated trend and can see a new high in the future.
Technical Levels
Major Support:$7000
Major Resistance:$8000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
