{"id":31007,"date":"2020-10-30T17:28:13","date_gmt":"2020-10-30T15:28:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31007"},"modified":"2025-08-28T01:04:21","modified_gmt":"2025-08-27T22:04:21","slug":"yearn-finance-token-fell-below-10000-amid-slowdown-in-defi-activity","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/yearn-finance-token-fell-below-10000-amid-slowdown-in-defi-activity\/","title":{"rendered":"yEarn Finance token fell below $10,000 amid slowdown in DeFi activity"},"content":{"rendered":"<p>The end of the month was not favorable for leading DeFi tokens. On Friday, October 30, the price of yEarn Finance (YFI) fell below $10,000, with new lows set by Uniswap (UNI), Compound (COMP) and other assets in the DeFi space.<\/p>\n<p><!--more--><\/p>\n<p>Following September&#8217;s <a href=\"https:\/\/u1f987.com\/en\/news\/defi-bulletin-sushiswap-in-the-spotlight-as-yearn-price-surges-to-40000\">growth<\/a>, YFI rose to $43,000 before a correction \u2014 the asset briefly dropped below $9,900. At the time of writing, the token was trading around $11,000.<\/p>\n<div id=\"attachment_114900\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-114900\" class=\"size-large wp-image-114900\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/00000000000-1024x514.jpg\" alt=\"Token yEarn Finance fell below $10,000 amid DeFi activity slowdown\" width=\"1024\" height=\"514\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/00000000000-1024x514.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/00000000000-300x151.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/00000000000-768x385.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/00000000000.jpg 1329w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p id=\"caption-attachment-114900\" class=\"wp-caption-text\">Four-hour chart of <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3AYFIUSDT\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">YFI\/USDT<\/a> on Binance from TradingView.<\/p>\n<\/div>\n<p>Over 30 days, YFI fell by 55.5%, over the week by 18.2%, and in the last 24 hours by 3.7%.<\/p>\n<div id=\"attachment_114902\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-114902\" class=\"size-large wp-image-114902\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-337-1024x71.png\" alt=\"Token yEarn Finance fell below $10,000 amid DeFi activity slowdown\" width=\"1024\" height=\"71\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-337-1024x71.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-337-300x21.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-337-768x53.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-337.png 1287w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p id=\"caption-attachment-114902\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.coingecko.com\/en\/coins\/all\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">CoinGecko<\/a>.<\/p>\n<\/div>\n<p>Analyst Cantering Clark said that YFI has become a leading indicator for the entire DeFi sector.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24YFI&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$YFI<\/a> IMO is the confidence index and forward indicator for Defi.<\/p>\n<p>Yields across the board are going to dry up more, and yet still new traders are jumping into pairs now not realizing how many got in a poor position higher and are begging for a relief rally to sell. <a href=\"https:\/\/t.co\/NmkqjTjAKe\">pic.twitter.com\/NmkqjTjAKe<\/a><\/p>\n<p>\u2014 Cantering Clark (@CanteringClark) <a href=\"https:\/\/twitter.com\/CanteringClark\/status\/1322004064868118530?ref_src=twsrc%5Etfw\">October 30, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>\u201cReturns across the entire sector will continue to decline. Yet new traders are still jumping into trading pairs, not realizing how many others entered positions at higher prices,\u201d he wrote.<\/p>\n<\/blockquote>\n<p>At the time of writing, the market capitalization of DeFi tokens stood at $14.6 billion. In the red zone are assets from the top ten, with the exception of WBTC and Aave.<\/p>\n<div id=\"attachment_114903\" style=\"width: 893px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-114903\" class=\"size-full wp-image-114903\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-193.png\" alt=\"Token yEarn Finance fell below $10,000 amid DeFi activity slowdown\" width=\"883\" height=\"414\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-193.png 883w, https:\/\/u1f987.com\/wp-content\/uploads\/3-193-300x141.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/3-193-768x360.png 768w\" sizes=\"auto, (max-width: 883px) 100vw, 883px\" \/><\/p>\n<p id=\"caption-attachment-114903\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/defimarketcap.io\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">DeFiMarketCap<\/a>.<\/p>\n<\/div>\n<p>The volume of assets locked in DeFi protocols over four days fell from $12.41 billion to $10.94 billion.<\/p>\n<div id=\"attachment_114904\" style=\"width: 1023px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-114904\" class=\"size-full wp-image-114904\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/5555.png\" alt=\"Token yEarn Finance fell below $10,000 amid DeFi activity slowdown\" width=\"1013\" height=\"486\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/5555.png 1013w, https:\/\/u1f987.com\/wp-content\/uploads\/5555-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/5555-768x368.png 768w\" sizes=\"auto, (max-width: 1013px) 100vw, 1013px\" \/><\/p>\n<p id=\"caption-attachment-114904\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/defipulse.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">DeFi Pulse<\/a>.<\/p>\n<\/div>\n<p>Analysts at ConsenSys <a href=\"https:\/\/u1f987.com\/en\/news\/opinion-high-defi-yields-threaten-ethereum-2-0-staking\">dubbed<\/a> the growing popularity of the DeFi sector a threat to staking in Ethereum 2.0. In their view, developers will begin offering liquidity tokens with a value equivalent to ETH that is locked up.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The end of the month was not a good one for leading DeFi tokens. On Friday, October 30, the price of yEarn Finance (YFI) slipped below $10,000, with new lows reached by Uniswap (UNI), Compound (COMP) and other assets in the DeFi sector.<\/p>\n","protected":false},"author":1,"featured_media":31008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1869],"class_list":["post-31007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-yearn-finance"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31007"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31007\/revisions"}],"predecessor-version":[{"id":31009,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31007\/revisions\/31009"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31008"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}