It is day six and YFI has not stopped falling from its all-time high above $44,000.
The Yearn Finance’s governance token remains among the best-performing crypto-assets in 2020, with lifetime gains near 2,000 percent. Nevertheless, its higher-than-expected price has also reduced its bids in the open market. That has resulted in a sharper decline.
YFI/USD dropped another 15 percent during the Monday session, marking $22,495 as its intraday low. That brought the pair down by almost 48 percent from its all-time high. At the same time, the total value locked inside the pools of Yearn Finance moved towards $950 million. It is now on the verge of hitting a record level.
Total value locked in the Yearn Finance pool. Source: DeFi Pulse
The ballooning liquidity pool and falling prices expressed conflict between YFI’s fundamental and technical aspects. While a $950 million worth capital reserves showed that more users were choosing Yearn Finance for its lending aggregator services, the demand for the product failed to excite