{"id":24593,"date":"2023-11-19T13:16:11","date_gmt":"2023-11-19T13:16:11","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/yearn-finance-yfi-price-dives-45-in-hours-what-happened\/"},"modified":"2023-11-19T13:16:11","modified_gmt":"2023-11-19T13:16:11","slug":"yearn-finance-yfi-price-dives-45-in-hours-what-happened","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/yearn-finance-yfi-price-dives-45-in-hours-what-happened\/","title":{"rendered":"Yearn Finance (YFI) price dives 45% in hours\u2013 what happened?"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2021\/12\/1639852791881-8aa25ba4-b7f5-4e22-88ba-ed6ca81fb036-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2021\/12\/1639852791881-8aa25ba4-b7f5-4e22-88ba-ed6ca81fb036-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2021\/12\/1639852791881-8aa25ba4-b7f5-4e22-88ba-ed6ca81fb036-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2021\/12\/1639852791881-8aa25ba4-b7f5-4e22-88ba-ed6ca81fb036-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Yearn Finance (YFI) price fell more than 45% to below $9k on November 18.<\/li>\n<li dir=\"ltr\">The decline occurred amid market manipulation claims, including from the dYdX team.<\/li>\n<li dir=\"ltr\">YFI price was around $9,260 on Sunday morning.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/yearn-finance\/\">Yearn Finance (YFI)<\/a> is changing hands just above $9,260 on Sunday morning, November 19.<\/p>\n<p dir=\"ltr\">The YFI token\u2019s 45% slump from highs of $15,548 to lows of $8,918 on Saturday wiped out all of last week\u2019s gains. YFI\/USD had climbed by over 170% over the past month.<\/p>\n<h2 dir=\"ltr\">YFI price nosedives \u2013 what happened?<\/h2>\n<p dir=\"ltr\">Yearn Finance\u2019s steep price decline came as negative sentiment hit the market amid allegations of potential market population.\u00a0<\/p>\n<p dir=\"ltr\">Amid this, YFI saw huge deposits to exchanges and on-chain data shared by market platform Lookonchain shows one whale selling as prices plummeted. \u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Why did <a href=\"https:\/\/twitter.com\/search?q=%24YFI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$YFI<\/a> suddenly plummet more than 40%?<\/p>\n<p>Wallet &#8220;0x48f9&#8221; transferred 446 <a href=\"https:\/\/twitter.com\/search?q=%24YFI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$YFI<\/a>($5.8M) out, most of which was deposited to exchanges.<a href=\"https:\/\/t.co\/Scw2wsE7lK\">https:\/\/t.co\/Scw2wsE7lK<\/a> <a href=\"https:\/\/t.co\/mrikh2dviO\">pic.twitter.com\/mrikh2dviO<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1725802679971324222?ref_src=twsrc%5Etfw\">November 18, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Alleged market manipulation was pointed out by the dYdX team, which revealed it had used $9 million from its v3 insurance fund to plug liquidation gaps in the YFI market.<\/p>\n<p dir=\"ltr\">\u201c<em>This was pretty clearly a targeted attack against dYdX, including market manipulation of the entire $YFI market<\/em>,\u201d dYdX founder Antonio Juliano stated in a post on X.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This was pretty clearly a targeted attack against dYdX, including market manipulation of the entire <a href=\"https:\/\/twitter.com\/search?q=%24YFI&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$YFI<\/a> market<\/p>\n<p>We are investigating alongside several partners and will be transparent with what we discover <a href=\"https:\/\/t.co\/djWHaaPIua\">https:\/\/t.co\/djWHaaPIua<\/a><\/p>\n<p>\u2014 Antonio | dYdX (@AntonioMJuliano) <a href=\"https:\/\/twitter.com\/AntonioMJuliano\/status\/1725926693440045389?ref_src=twsrc%5Etfw\">November 18, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">The FUD surrounding YFI price on November 18 saw an increase in liquidations. Data from <a href=\"https:\/\/www.coinglass.com\/currencies\/YFI\" rel=\"noopener noreferrer\" target=\"_blank\">Coinglass<\/a> shows a total of $4.55 million liquidated in 24 hours, with longs accounting for over $3.07 million.<\/p>\n<h2 dir=\"ltr\">What is Yearn Finance?<\/h2>\n<p dir=\"ltr\">YFI is the governance token of Yearn Finance, one of the leading yield farming protocols in the decentralized finance (DeFi) ecosystem.\u00a0<\/p>\n<p dir=\"ltr\">The platform\u2019s suite of products that include lending aggregation, yield generation, and insurance are integrated by some of the top DeFi players, including Aave, dYdX and Compound.<\/p>\n<p dir=\"ltr\">The price of its token had seen a significant spike in recent weeks amid a resurgence across the crypto market. In reaching highs of $15,548, YFI was trading at a peak last seen in May 2022. Profit deals are therefore likely to have been a possible factor.<\/p>\n<p dir=\"ltr\">As \u00a0of writing, YFI has cut weekly gains to just over 2% and 30-day performance is down to +85%.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/yearn-finance-yfi-price-nosedives-amid-alleged-market-manipulation\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Yearn Finance (YFI) price fell more than 45% to below $9k on November 18. The decline occurred amid market manipulation claims, including from the dYdX team. YFI price was around $9,260 on Sunday morning. Yearn Finance (YFI) is changing hands just above $9,260 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24593"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24593"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24594"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}