фото показано с : invezz.com

Yearn Finance (YFI/USD) has been making notable gains during the past few days. The coin is currently on a 33% uptrend, with the gains bringing the coin closer to a major price recovery after weeks of recession.

The YFI uptrend comes amidst a major decision by the Yearn Finance team to boost the network’s growth.

With YFI experiencing a major price boost, the coin has been attracting buyers. Currently, buyers in the market are looking for some price action, and YFI is among the rare coins that are still performing.

YFI rallied buyers between the $18,000 and $20,000 levels in the recent downtrend. The coin now appears to make a price rebound past $40,000 if it holds the current buying trend.

If YFI holds above the $30,000 to $35,000 range, it could also rise above $38,500. From here, the next upper target will be $40,000, a level that could coincide with a strong bullish rally.

Some analysts have also stated that YFI has reached a fully-diluted valuation (FDV) of below $1 billion. These numbers could represent major gains for YFI, and the altcoin could be headed towards major gains during the first quarter.

The recent gains made by YFI have been attributed to the recent announcement that the Yearn Finance development team has been buying back tokens since November. The team’s intentions for this buyback stem from a community vote to boost YFI’s tokenomics.

The decentralized team behind YFI has bought 282.40 tokens at an average price of $26,651 for each. This buyback is valued at more than $7.50 million.

Additionally, Yearn Finance said that it holds over $45 million in its treasury. Its total earnings have also increased significantly. Therefore, the team could invest more in buying additional YFI tokens in the future.

One of the greatest earnings platforms for Yearn Finance is the vaults that generate around $100 million annually from fees. The platform has a flagship smart savings account that increases the value accrued from the deposited digital assets.

Another crucial attribute for Yearn Finance is that the protocol had attracted over $5 billion in total value locked (TVL). This shows that the decentralized finance (DeFi) business of the network is making notable gains compared to the number of YFI holders, as the coin’s market capitalization stands at $781 million. The Yearn Finance network has ample liquidity compared to most networks in the DeFi sector because it generates some of the highest fees per TVL. Hence, it has ample revenues to boost the token buyback initiative.

The post Yearn Finance (YFI) makes a 33% gain amidst a $7.5M buyback appeared first on Invezz.

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