Yearn Finance price crashes 40%, undoes five-day gains in five hours

FXstreet
FXstreet

18 Nov 2023 6:20 AM

Yearn Finance (YFI) price has dropped a massive 43% in the last five hours and shows no signs of stopping. ...

  • The recent rise in crypto prices was mainly due to the anticipation of ETF approval.
  • The SEC has delayed the decision, leading to potential profit-taking and a market correction.
  • Yearn Finance's YFI token experienced a significant rally followed by a crash.
  • The token's price has dropped by 43% in the last five hours.
  • The article contains forward-looking statements and emphasizes the need for thorough research before making investment decisions.
  • The author and FXStreet do not provide personalized recommendations or investment advice.

The sentiment of the article is negative, as it highlights potential market correction and warns about the risks associated with investing in cryptocurrencies.

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You May Ask

What was the main reason for the recent rise in crypto prices?Why has the SEC delayed the ETF approval decision?How much did Yearn Finance's YFI token rally in just nine days?What has been the recent price movement of the YFI token?What cautionary advice does the article provide for investors?

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