When did yfi coins come out?

YFI coin was launched on July 17, 2020. It is a DeFi token with main functions such as governance rights, revenue sharing and liquidity. Its limited supply provides support for its value.

YFI coin birth time

YFI coin, also known as Yearn Finance, was born on July 17, 2020 Launched.

Detailed introduction

YFI coin is a decentralized finance (DeFi) token created by the Yearn Finance protocol. Yearn Finance is a revenue aggregator that integrates various DeFi platform revenue maximization strategies.

YFI currency has the following main functions:

• Governance rights: YFI currency holders can make governance proposals on the Yearn Finance protocol vote.
• Revenue Sharing: YFI coin holders can earn income from the fees generated by the Yearn Finance protocol.
• Liquidity: YFI coins can be traded on various decentralized exchanges (DEX), providing liquidity.

The supply of YFI coins is limited, only 30,000. This makes it a scarce asset, helping to drive up its value.

Since its launch, the value of YFI coin has increased significantly, making it one of the best performing tokens in the DeFi ecosystem. Its popularity is attributed to its unique governance model, revenue sharing mechanism, and limited supply.

Yearn.finance (YFI) continues its decline amid heavy volatility and is currently trading at $5567.48. Its value has plunged 8.73% since yesterday, with daily trading volume reaching $26.19 million. As prices continue to move lower, investors are keeping a close eye on where YFI will go next.

From a technical perspective, YFI’s downtrend is clearly visible. Its 200-day moving average (MA) at $6,200 is currently acting as strong resistance, hampering any rebound attempts. Additionally, the 100-day moving average (MA) at $5,800 is also providing resistance to the price.

In terms of support, YFI’s 50-day moving average is $4,800, and if it falls below this level, further losses are likely. However, losses are expected to be limited due to strong support near $4,200.

Overall, YFI’s technical indicators suggest that it is currently in a bear trend. Failure to rebound above $6,200 may continue the decline to $4,800. It is crucial to be patient and monitor price action for signs of a reversal of the trend.

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