Massive gains for DFI Money while crypto markets crumble
Amid this week’s shocking market collapse, in which Bitcoin lost a tenth of its value before hitting a two-year low, few cryptocurrencies escaped dramatic losses.
One, however, mysteriously triumphed in the face of a tidal wave of losses.
DFI Money (YFII) – a fork of Yearn Finance – gained more than 30 per cent in the 24-hour aftermath of Tuesday’s token tumble, triggered by Binance buying up FTX. This evening it was trading at $1,891 – up by 50 per cent across seven days, and 94 per cent over the month.
Even with a 24-hour trading volume of 372 per cent and a trading activity of 86 per cent ‘buy’, the $73.8 million market cap Ethereum-based token still has some way to go before reaching its all-time high of $9,405 set in September 2020.