Polychain Capital Invests in DeFi Token YFI

The cryptocurrency fund Polychain Capital bought 141 yEarn Finance (YFI) tokens. This drew the attention of Messari analyst Mason Nystrom.

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Polychain Capital doubled down and purchased another 141 $YFI this week.

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Polychain is now the 10th largest holder with 470 YFI (~8.5m) or 1.6% of the total supply. https://t.co/QakHgbPmQC pic.twitter.com/SeFXDOUIfO

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— Mason Nystrom (@masonnystrom) November 11, 2020

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According to Nystrom, Polychain Capital has purchased a total of 470 YFI ($7.5 million at the time of writing). The DeFi token joined the fund’s assets alongside Bitcoin, Ethereum, Polkadot, Tezos, Filecoin and Maker.

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Data: Messari.

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In the last 24 hours, YFI’s price fell 6.1%. The token trades around $16,000.

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Data: CoinGecko.

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In October Polychain Capital led a round of financing for the Polymarket prediction platform with automated market maker technology. The project raised a total of $4 million.

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