Share this article
DeFi-Yield-Hunting Token YFI Explodes to $11K From $32 in One Month
A governance token for DeFi investment protocol yEarn Finance has shot up to over $11,000 despite barely being a month old.
By Paddy Baker
Updated Mar 6, 2023, 2:50 p.m. Published Aug 18, 2020, 4:25 p.m.
The governance token for has shot up over 32,000% since mid-July as investors have poured hundreds of millions into its protocol, which identifies and exploits some of the best opportunities in the white-hot decentralized finance (DeFi) space.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- CoinGecko data shows YFI tokens shot up to nearly $11,250 on Tuesday before giving back some gains: they were just $32 when they started trading on July 18.
- As the graph below shows, YFI soared past $1,000 the day after launching and was already worth $4,000 by the start of August.
- Investors have poured hundreds of millions into yEarn since it launched mid-May. On July 18, the protocol had $9.3 million in total value locked; at press time there were over $600 million, according to DeFi Pulse.
- After a relative lull, the token doubled from $5,500 on Sunday to over $11,000 earlier Tuesday before dropping over $1,500 to $9,800 as this article was going to press.
- In yEarn, investors deposit digital assets into the protocol which identifies and executes various DeFi trading strategies, offering ROIs of up to 95% on their holdings – the platform taking 5% of total yield as fees.
- As a governance token, users can stake YFI in order to determine the overall direction of the protocol along with other token holders.
- Helping drive demand is the scarcity of the tokens. There are only 30,000 YFI tokens – a $300 million market cap – with the vast majority already circulating in the ecosystem.
- yEarn founder Andre Cronje told CoinDesk the price rise likely came from a combination of scarcity and the fact traders were using YFI in some of the other DeFi protocols.
- Many big holders, such as Framework Ventures, are now hoarding YFI tokens for the staking rewards – increasing supply pressures still further, he said.
See also: YAM’s Market Cap Falls From $60M to Zero in 35 Minutes
Більше для вас
Що варто знати:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Більше для вас
Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure
Downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods, said one analyst.
Що варто знати:
- Bitcoin rebounded from a sharp early selloff on Thursday to trade above $93,000 shortly after the close of U.S. stocks.
- The late-day gain in bitcoin came alongside a rebound in the Nasdaq from big morning losses; the tech index closed with just a 0.25% loss.
- Downward pressure on bitcoin is losing steam, said one analyst, but the market is not yet out of the woods.
Top Stories
