On Monday, August 10, the price of the DeFi platform token yEarn Finance (YFI) rose above $6,500. The catalyst was the listing of the asset on the Binance exchange.
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At one point, YFI quotes reached $6,941, after which they corrected somewhat. As of writing, the daily gain was about 50%.
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Data: CoinGecko
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The exchange has begun accepting deposits and will open trading of the YFI token at 12:00 UTC (15:00 MSK). Traders will have access to YFI/BNB, YFI/BTC, YFI/BUSD and YFI/USDT pairs.
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yEarn Finance does not have a foundation backing the project’s development or venture investors. The project did not conduct a presale, and its governance is run by YFI holders who receive the token in exchange for providing liquidity on the yEarn platform.
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There had been speculation that Binance was accumulating large YFI volumes.
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