YFI, the native mark of the decentralized financial giant (DeFi), hit a new all-time high. In the last 12 hours it rose 30% from $ 14,017 to $ 18,169 and was used in pricing.
YFI price chart from yearn.finance for the last two weeks. Source: TradingView.com
The term pricing refers to when an asset hits a new high and the markets are looking for a new high. YFI entered pricing for the first time in 8 days after hitting its previous high at $ 16,666.
An indication of a new partnership, the inclusion in Aave, strong techniques
Three factors likely drove the YFI rally to a new all-time high They were a potentially new association, an inclusion in Aave, and a powerful technique.
August 28th the Aave Money Market Protocol (LEND) included to YFI on your list. Aave is the largest DeFi protocol in the world market with a total insurance value of more than $ 1.52 billion.
As Cointelegraph previously reported, Aave has received approval from the UK Financial Conduct Authority to further secure Aave’s dominance in the DeFi market. Jordan Lázaro Gustave, Aave’s Chief Operating Officer, told Cointelegraph:
“Aave will also enable the transfer of credit, whereby party A can delegate its credit line to party B, who can take out credit in return. All of this will be possible thanks to a legal agreement through OpenLaw. For example, a loan officer could be a party that wants to accumulate more loans, and a borrower could be a company, NGO, government, institution, etc. “
Although yearn.finance was an important DeFi protocol with a locked-in value of nearly $ 1 billion, A listing could further boost YFI’s price.
At the top of the new list: Yearn.finance developer Andre Cronje said he was working with FTX CEO Sam Bankman-Fried.
FTX, one of the leading cryptocurrency derivatives exchanges, has had several partnerships over the past few weeks. It helped launch a decentralized exchange (DEX) called Serum and acquired Blockfolio.
A possible collaboration between FTX and the developer of yearn.finance, Cronje, is in line with FTX’s activities in the DeFi and DEX market..
“I suppose the cat is out of the bag, but to get expectations under control this is a long plan that we are working on. So soon there will be nothing more. But in the future there will be something very sexy. “
It can be said that Yearn.finance is also cheaper when compared to other major DeFi protocols valued at $ 1 billion in storage space. For example, Synthetix is worth more than $ 600 million but has an insurance value less than yearn.finance.
Yearn.finance’s active product launches catalyze the dynamism of YFI
Over the past month yearn.finance and its main developer Cronje have released many products that range from safes to decentralized insurance.
As an example, Yearn.finance announced the launch of yinsure.finance, one of the first tokenized insurance services in the DeFi area.together with Nexus Mutual.
Well-known venture capitalists like Kelvin Koh from Spartan Black and Fred Ehrsam from Paradigm, they said as DeFi insurance has the potential to become a billion-dollar market.