Yearn.Finance (YFI) Owners Don’t Make Some Profit
Despite a 65,867 percent rally, less than a third of Yearn.finance (YFI) holders are making a profit.According to data provided by cryptocurrency intelligence firm IntoTheBlock, only 26 percent of all yearn.finance ( YFI ) addresses were able to get money. This fact is pretty surprising considering that the token still has a noticeable increase of 65,867 percent since its launch in mid-July.
Most YFI Owners in the Red Zone
YFI, the management token of the DeFi project yearn.finance, was launched on July 17 without pre-mining. As Yearn.finance founder Andre Cronje explains, the token could only be earned using the protocol. Moreover, Cronje emphasized that YFI is a “totally worthless” token:
“In our efforts to let go of this control (mostly because we are lazy and don’t want to do that), we’ve released YFI, a completely worthless token. Again, it has 0 financial value. ”
His cautious remarks did not prevent DeFi speculators from pushing the YFI market value of the token to $ 100 million in a week. Its massive rally was quickly gaining the attention of the wider cryptocurrency industry and absorbing FOMO-driven owners.
In just over a month, YFI has risen from $ 34.53 to $ 20,000, repeating Bitcoin’s nine-year bull run. With its current peak of $ 42,164, reached on September 12, BTC managed to surpass its all-time high.
Despite these massive gains, 67 percent of YFI owners are colored red after today’s 18-hundred retreat, meaning that many joined the party from the top.
LEND Gives You
As reported by the US, the best DeFi tokens today are falling behind during a multi-directional correction in markets triggered by the dollar’s rise. Still, 92 percent of Aave (LEND) owners are green, despite the recent economic downturn.