DFI.Money (YFII) Price Plunges by 70% – Should you buy the dip?
On May 25th, the exchange rate of DFI.money (YFII) fell by 70%, the biggest decline of the year. This has surprised YFII investors if there is another dive down the road or if they can turn their fortunes around with crypto.
The end for Binance is uncertain. The cryptocurrency exchange warned YFII investors that “the price of this token is high volatility”. Now anyone who wants to invest in crypto should understand this statement and the risks involved before starting work.
Cause of YFII accident
There are a lot of crypto currencies that have been dragged from the previous levels to the lower levels this year. This is a sharp 2021 contract, most of the signs are old pumps. In the case of YFII, investors saw a 400% increase by the end of August 2021. Then it took the direction of normal rebounds and then the exchange rate fell - it reached its lowest point in May 2022, occurring even before the conflict.
This year's YFII Prize took place on May 25, falling from $ 1,213 to $ 396 - a 70% discount.
Most accidents occur when the price returns to $ 940 per hour. However, three days have passed since the incident and the price has taken another drop - the current YFII price is $ 546.
Binance Futures YFII is listed.
This is not the only time DFI.Money has been in the news. In April of this year, Binance announced that it would list the excluded YFII / USDT contracts. The news sent the crypto market to an end - which reduced the price of the YFII by more than half - from $ 2,300 to $ 1,189.
This negative judgment comes in the wake of the DFI Financial Group's promise to investors - a higher annual return (API). With claims that YFII investors could be victims of carpet dragging, some believe the developers have abandoned the project.
The cause of the clash is still unknown. Prices have changed dramatically since the first diver, and it has jumped 300% instantly and has met some buyers' expectations.
DFI.Financial Analysis
YFII broke the most important support it had had in several months in early May 2022 - it dropped to $ 860 before crossing the $ 1500 range.
Advances YFII to meet a new level of resistance and fails to break it. On May 15, the YFII price could not exceed $ 1,500, leading to the formation of a starlight on the daily table.
The crypto public warned that the YFII threshold could not be broken and that the candle it held could reach new levels. YFII went from $ 1,200 to $ 330 an hour, making it the biggest hit of the year. It came a little later - probably because some investors or buyers were too short to enter the market. On May 26, 2022, DFI.Money became one of the largest crypto revenue generators of the day.
Buyers should remember that investing in DeFi Coins is risky when there is high market volatility.
At the same time, volatility and crypto markets have existed since the beginning of the blockchain. Some investors are still reluctant to find out the cause of the disaster. But now we have only speculative questions. Was flexibility a way to get rid of courage?
DFI is the source. Money explained
DFI.Money is a Defy platform by Yarn.Finance: deposit ERC-20 tokens and earn daily rewards.
DFI is the source. The Money platform develops products in leveraged trading. The leader of the platform is YFII, an ERC-20 token that optimizes the storage performance of DFI.money.
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