Alleged Exit Scam Hits Yearn Finance YFI, Tanking 42% from $15k to $8k

Coin Edition
Coin Edition

18 Nov 2023 12:29 PM

Yearn Finance's native token YFI experiences a dramatic downturn, losing over 42% following an alleged exit scam. Read more on CE....

  • The native token of Yearn Finance, YFI, experienced a significant downturn, losing over 42% in 24 hours.
  • YFI liquidations reached $4.99 million, with long positions accounting for $3.5 million of the losses.
  • The downturn may have been triggered by an alleged exit scam by significant investors.
  • YFI's market decline has had implications for crypto traders, resulting in substantial losses.
  • The liquidation observed in the last 24 hours is the largest loss recorded in the last three months.

The article discusses a dramatic downturn in the performance of YFI, the native token of Yearn Finance. This has resulted in significant losses for crypto traders, potentially due to an alleged exit scam. The sentiment is negative.

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You May Ask

What caused the dramatic downturn in YFI's performance?How much did YFI liquidations reach in 24 hours?What percentage of the losses were from long positions?Which wallets hold a significant portion of YFI's total supply?How does the recent liquidation compare to previous losses in the last three months?

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