CoinShares: Ethereum, Cardano, XRP Are the Investment Products with Largest Inflows
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A barely known cryptocurrency in the crypto space is winning the attention of thousands of investors after experiencing a 10,000% rise in value in just a few days after it’s officially launched.

Santiment, the crypto-analysis platform is keeping a tab on the performance of YFI, the governance token of decentralized finance (DeFi) protocol,

An analyst at Santiment explains via a YouTube video that the token serves as a means to generate passive income for investors by utilizing platforms that offer the most profitable yields.

“In a nutshell, YFI is something that makes you money, good ton of money. It is the only thing right now in the DeFi market that gives you the highest yield…

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How it does that is by taking whatever you deposit, and it actually goes around and searches all the other platforms, whatever protocols are out there, and finds the best yields in the area and then deposits over there, ensuring that you get the best yields. Think of it as an automated yield aggregator.”

The Stance of YFI’s Creator

According to the creator of YFI, Andre Cronje, the cryptocurrency has no financial value. But the attention of investors it has caught due to the significant increase it has experienced makes it a point for discussion.

According to CoinGecko, on 18th July, YFI, the native token of, was priced at $31.65 before its notable surge to record its all-time high of $3,458.31 on 25th July 2020, a drastic rise of 10,828.6%.

A New Crypto That Surged By 10,000% a Few Days After It Launched
Courtesy of CoinGecko

Despite the fact that decentralized finance (DeFi) tokens are garnering most attention at the moment, the crypto-analysis platform, Santiment warns that gains are never guaranteed due to the high volatility of the market.

“It’s important to note that DeFi is pretty nascent. There are very real inherent risks involved: Smart contract exploits/bugs/hacks, collateral getting liquidated, Stablecoin de-pegging.”

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.