YFI Token in Freefall: 37% Drop and $4.7 Million Liquidations in 24 Hours
YFI token plummets over 37% in a day, triggering $4.7 million in liquidations. Trading data shows divided investor sentiment with fluctuating long and...
- YFI token has experienced a significant market downturn, with its value plunging over 37% in the last 24 hours.
- The sharp decline resulted in over $4.7 million worth of liquidations, highlighting the volatility of the crypto market.
- YFI had reached a high of $91,000 during the bull market but dropped to a yearly low of $4,500 before this recent decline.
- Trading activity surrounding YFI has been intense, with a mix of long and short positions, indicating divided sentiment among traders.
- Binance and OKX reported varying long/short ratios for YFI, suggesting traders' differing views on the token's future.
- The 24-hour period saw $5.04 million in YFI liquidations, with long positions bearing the majority of the impact.
- The current market situation for YFI is complex, with the token facing strong bearish control and undoing previous progress.
The sentiment in the article is negative, as it highlights the significant decline in the value of the YFI token and the risks and volatility associated with the crypto market.