Share this article
DeFi Token YFI Rises Above $50K for the First Time Since February
A "Buy Back and Build" proposal approved in January aims to bolster the project's treasury and generate value for all stakeholders.
Updated Sep 14, 2021, 12:41 p.m. Published Apr 15, 2021, 8:59 a.m.
Decentralized finance (DeFi) protocol Yearn Finance's governance token YFI is trading above $50,000 for the first time in two months, driven by a planned buyback and an increase in the total value locked (TVL) in the protocol.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The token has surged by 16% in the past 24 hours to trade near $51,250 – the level last seen on Feb. 12, according to data source Messari. Prices have risen by nearly 70% from $29,000 in the past three weeks.
- According to Alex Svanevik, the CEO of blockchain data company Nansen, yearn finance's buyback plan and the explosive growth of the total value locked into the protocol are powering YFI higher.
- "Yearn treasury will be conducting a Gnosis auction to purchase additional YF as part of our Buy Back and Build (BABY) YIP. We have earmarked 300,000 USDC for this auction to purchase YFI under $45,000," the protocol tweeted on Wednesday.
- The buyback and build proposal approved in January aims to bolster the project's treasury and generate value for all stakeholders.
- The total value locked (TVL) in the protocol has nearly doubled to a record $3.024 billion in the past four weeks, as per data provided by yearn.science.
- "Many people have not been aware of a sharp rise in the TVL because several websites incorrectly reported it not that long ago," Svanevik said. "The team has started reporting the TLV themselves, and it's about $3 billion now."
More For You
What to know:
- 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.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
