What you need to know about YFII massive dump price
What is YFII Coin and what happened?
YFII is the community governance token and the key to diverse DeFi systems’ farming returns. Voting and revenue allocation in the YFII DAO are carried out using this token.
On May 25, at approximately 11:15 AM, the price of this token on major exchanges experienced an abrupt and significant drop. The price dropped from 1,212 USD to as low as 320 USD in just 15 minutes, which is equivalent to a loss of nearly 74 percent of the value.
The majority of that decline occurred within the span of an hour; ever since then, the price of DFI.Money (YFII) has increased to a high of $940, and it is currently trading in the range of $700 and $750.
The daily candle opened the following day, on the 26th of May, at the price of $755.
It is not entirely obvious why the price of YFII has plummeted by such a significant amount; however, the majority of theories at this time attribute it to the DFI. The judgment was thrown out of the window by the money development team’s decision.
The preceding argument is based on the fact that DFI.Money has, for a considerable amount of time now, not been subject to any discernible progression. In spite of the fact that the token was dumped and a significant amount of evidence was discharged, the project’s communication channels have, up until this point, remained “quiet.” This demonstrates that a company or organization needs to possess a substantial quantity of tokens in order to generate interest in the sale.
Conclusion
Investing in DeFi coins or other cryptocurrencies at a time when the market is experiencing extreme volatility is fraught with danger.
The cryptocurrency market is notorious for its high degree of volatility, and some investors will continue to sit on the sidelines until they have more information on the true cause of the recent decline.
About RoboFi
RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
About VICS
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
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I'm Carina, a passionate crypto trader, analyst, and enthusiast. With years of experience in the thrilling world of cryptocurrency, I have dedicated my time to understanding the complexities and trends of this ever-evolving industry.
Through my expertise, I strive to empower individuals with the knowledge and tools they need to navigate the exciting realm of digital assets. Whether you're a seasoned investor or a curious beginner, I'm here to share valuable insights, practical tips, and comprehensive analyses to help you make informed decisions in the crypto space.
