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YFI price gains 46% in just four days after Yearn Finance's $7.5M buyback

Published 12/17/2021, 10:33 AM
Updated 12/17/2021, 12:20 PM
YFI/USD
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Yearn Finance (YFI) emerged as one of the best performers in the crypto market this week, rallying by over 46% in just four days to reach a two-week high above $29,100.

YFI/USD daily price chart featuring its four-day bull run. Source: TradingView

The gains surfaced primarily as Yearn Finance revealed that it has been buying back YFI en masse since November in response to a community vote to improve the YFI token's economics. The decentralized asset management platform purchased 282.40 YFI at an average price of $26,651 per token — a total of over $7.50 million.

The total value locked inside Yearn Finance vaults. Source: DeFi Llama
YFI/USD three-day price chart featuring Fakeout range. Source: TradingView

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