Timing when to buy in crypto or any market is a difficult task. Eager DeFi investors learned this the hard way if they rushed to buy Yearn.Finance (YFI) the moment it was listed on Coinbase. From that moment on, its been almost nothing but downside since, leaving anyone who bought that “top” with a $25K paper loss on hand.
Will YFI recover and soften the sting of such a dramatic fall from grace, or will investors continue to yearn for their money back?
How A Coinbase Listing Has Become The Crypto Industry Kiss Of Death
Once upon a time in the cryptocurrency market, a Coinbase listing meant big gains. Even just rumors of a potential listing sent XRP soaring in early 2018 from $1 to more than $3.50 at its peak.
Related Reading | Yearn.Finance (YFI) On “Life Alert” After Weak Attempt To Hold Support
These days, it is more like a kiss of death than getting a spin on the wheel of fortune. Take Yearn.Finance for example. From the moment the digitally scarce DeFi token made its debut on the exchange, its fallen 65% or more high to low.
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