Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»YFI withdraws $20,000 as Yearn Finance governance approves token buyback.
EXCHANGE NEWS

YFI withdraws $20,000 as Yearn Finance governance approves token buyback.

By Crypto FlexsDecember 2, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
YFI withdraws ,000 as Yearn Finance governance approves token buyback.
Share
Facebook Twitter LinkedIn Pinterest Email

Year Finance beat Bitcoin in the race to claim back $20,000.

The protocol’s governance token YFI surged to $20,770 during the early trading session on Tuesday. The gains pushed the price up 178.42% from its early November low, confirming the start of a strong rebound following an 83% plunge.

Yearn Finance is trading nearly 50% below its all-time high. Source: YFIUSD on TradingView.com
Yearn Finance is trading almost 50 percent lower than its record high. Source: YFIUSD on TradingView.com

YFI’s resurgence rally follows the decision of cryptocurrency-based hedge fund PolyChain Capital to purchase nearly 2% of new YFI supply in two transactions. This comes even after Yearn Finance approved new improvement proposals following three days of voting.

YIP-54

According to Year Improvement Proposal 54 (YIP-54) listed on the official website, the upgrade will allow community members to audit costs related to hackathons, security audits, grants, bug bounties, and wages on a quarterly basis.

YIP-54 also allows a newly formed “operating fund” to “buy back YFI or other assets at its discretion.” This proposal is intended to assign more utility functions to YFI, making it an attractive investment as ETH on Ethereum. Angel investor Choi J. I left a comment.:

“(In my honest opinion) (YIP-54) 1) introduces real purchasing demand for the tokens, tying the value of the platform to the value of the tokens, and 2) skins in the game for contributors, who are part of the operating funds, now have native tokens. “It is provided.”

Yearn earned about $3.4 million in fees over the past four months.

YFI, Year Financial, YFIUSD, YFIBTC, YFIUSDT, DEFI
Yearn Finance Compensation Distribution Plan. Source: Official website
Yearn Finance reward distribution plan. Source: Official Website

Governance also proposed launching a long-term vesting scheme for investors who wish to store their YFI tokens in the Yearn vault for a long period of time. This feature may be included in the next improvement proposal.

What’s next for YFI?

The prospect of more use cases combined with a long-term return strategy could increase investor preference for YFI. Meanwhile, about $1.1 billion of ETH could leave UniSwap liquidity pools and enter Yearn Finance vaults on Tuesday.

“It looks like most ETH being withdrawn is being converted to stablecoins, so we could see other protocols getting some love. $OVER, $GHOST, $CRV, $REN) as money moves,” said market analyst Jacob Canfield. “Look at TVL (Total Value Locked? Increase over next 48 hours).”

As many analysts agree, YFI’s technical commentary is showing bullish results so far.

$OVER It looks like this perfect ascending triangle is about to explode. ?⬆️? pic.twitter.com/2SWiXyvldb

— Alex Saunders ???‍? (@AlexSaundersAU) November 17, 2020

At press time, the YFI/USD exchange rate was $20,220.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ethereum Price at Risk – Bears Lose Momentum Ahead of New Lows

October 9, 2025

Bitcoin Steadies at Rally -Is another powerful brake out just in the future?

October 6, 2025

If this happens, you can see a huge price of $ 1.9.

October 3, 2025
Add A Comment

Comments are closed.

Recent Posts

Pepeto Advances Presale With Staking Rewards And Live Exchange Demo

October 11, 2025

Foundry vs Echidna vs Wake: Fuzz Reduction Comparison

October 11, 2025

Phemex Launches Market Confidence Campaign To Support Traders Through Volatility

October 11, 2025

How SJMine Transforms Daily Crypto News Into Passive Profits

October 11, 2025

Ethereum price plunge creates opportunity for 13% rebound

October 11, 2025

Eightco Holdings Inc. ($ORBS) Expands Its Strategic Vision Into The Enterprise

October 10, 2025

Whale.io Launches Battlepass Season 3, Featuring $77,000 In Crypto Casino Rewards

October 10, 2025

Strengthening the AI ​​Agent Economy

October 10, 2025

‘OG’ Whale Attracts Over $400 Million in Bearish BTC Bet

October 10, 2025

Rhuna Raises $2M Seed Round Led by Aptos Labs to Build Stablecoin Payment Infrastructure for Entertainment

October 10, 2025

Mobile App Change Log 7.17.0

October 9, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Pepeto Advances Presale With Staking Rewards And Live Exchange Demo

October 11, 2025

Foundry vs Echidna vs Wake: Fuzz Reduction Comparison

October 11, 2025

Phemex Launches Market Confidence Campaign To Support Traders Through Volatility

October 11, 2025
Most Popular

Bybit Tomorrowland Brasil 2025-26 exclusive payment partner, card holder Free Sale launch

March 23, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Bitcoin price hovered around $41,000 as traders weighed in on the Fed interest rate decision.

December 13, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.