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.
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.
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