DeFi Mania Continues As Yearn.Finance (YFI) Will Be Listed on Coinbase Pro

Community favorite YFI is looking for new highs as Coinbase Pro announces listing. The third biggest DeFi protocol, Yearn.Finance has a TVL of $772 million which continues to bring new treats.

Coinbase is riding the DeFi mania all the way.

This, however, shouldn’t come as a surprise, given that the San Francisco-based cryptocurrency exchange likened DeFi extravaganza with that of the early days of Bitcoin when people didn’t understand it. Still, its price action was driving them to the crypto king.

Yesterday, as we reported, Coinbase announced UMA’s launch on Coinbase.com and both of its apps iOS and Android, along with Loopring to start trading on Coinbase Pro.

Another announcement came from Coinbase on Thursday in the form of a YFI DeFi token listing.

Coinbase Pro will start the deposits for YFI ahead of trading on Monday, which will be available on all the exchange’s supported jurisdictions, except for New York State.

The trading for YFI will begin on Sept. 15, if liquidation conditions are met.

For now, YFI won’t be available on Coinbase.com or its mobile apps.

YFI, the governance token of decentralized finance platform Yearn.Finance is a community favorite that is currently trading at $32,700. Users can earn this 24th largest cryptocurrency by a market cap of $990 million by contributing liquidity to yEarn’s liquidity pool.

The token is famous and loved by the crypto community because of its fair launch. Following a decentralized approach, in mid-July, YFI came to birth as a zero supply, zero value token without any VC funding or team allocation.

According to the trader and economist Alex Kruger, “Unlike most crypto pet rocks it adds value and produces cash flows.”

That’s why he believes YFI can easily reach $50,000 within a month.

The trader has been extremely vocal about his love for the token much like many in the community, and attributed the reason to the project creator Andre Cronje. He said,

“The reason I like yearn.finance so much is that it is a cash flows generation machine driven by a team of innovators, mainly @AndreCronjeTech,”

“Even traditional finance investors who dislike bitcoin can see value in YFI.”

As we reported, Yearn.Finance introduced StableCredit yesterday, an attempt to completely decentralize the lending ecosystem. This latest move came after the project recently formed a team and announced vaults, tokenized debt, and tokenized insurance.

This third biggest DeFi protocol has a TVL (total value locked) of $772 million, which performs a host of functions including aggregated liquidity and automated market-making.

yearn.finance Live Price

1 YFI/USD =10,945.5590 change ~ 10.58

Coin Market Cap

328.01 Million

24 Hour Volume

343.25 Million

24 Hour Change

10.58

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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