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<p>According to on-chain analytics firm <a href="https://twitter.com/santimentfeed/status/1724211939352727995" target="_blank" rel="noopener noreferrer nofollow">Santiment</a>, decentralized finance protocol YearnFinance has seen a resurgence in whale activity and user growth, powering a 60% increase in YFI token’s market capitalization over the past week.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="606" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-1024x606.png" alt="" class="wp-image-376556" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-1024x606.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-300x178.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-767x454.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-1536x909.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-2048x1213.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-540x320.png 540w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-253x150.png 253w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-100x59.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-591x350.png 591w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332-788x466.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-332.png 679w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<p>In a recent thread, Santiment noted that large transactions by whales are occurring at 15-month high levels. The number of new addresses holding YFI has also been “exponentially increasing.”</p>
<p>This growing engagement by both whales and smaller holders has driven YFI’s market cap to over $300 million.</p>
<p>YearnFinance is focused on providing optimized yields across various DeFi platforms, allowing users to seamlessly earn passive income on holdings. Its developer team continues innovating with new vaults and strategies.</p>
<p>The live price of the Yearn.Finance (YFI) governance token currently sits at $9835 after surging nearly 2% over the last 24 hours.</p>
<p>According to CoinMarketCap, YFI’s 24-hour trading volume exceeded $250 million as the token saw renewed interest. Yearn.Finance’s market capitalization now stands at over $350 million, placing it within the top 115 cryptocurrencies.</p>
<p>The return of whale activity combined with a surge in new users provides a positive signal for YearnFinance’s ecosystem growth. As a bellwether for DeFi adoption, YFI’s resurgence indicates renewed interest in decentralized services amid the ongoing bear market.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/tellor-whales-trigger-33-trb-freefall-who-dumped-and-how-much-did-they-make/" target="_blank" rel="noopener noreferrer nofollow">Tellor Whales Trigger 33% TRB Freefall: Who Dumped, and How Much Did They Make?</a></li>
 <li><a href="https://captainaltcoin.com/analyst-compares-kaspa-to-cardano-revealing-his-kas-strategy-while-the-coin-trades-in-red/" target="_blank" rel="noopener noreferrer nofollow">Analyst Compares Kaspa to Cardano, Revealing His KAS Strategy While the Coin Trades in Red</a></li>
 <li><a href="https://captainaltcoin.com/uncovering-hidden-crypto-treasures-the-growth-potential-of-neo-rblz-and-egld/" target="_blank" rel="noopener noreferrer nofollow">Uncovering Hidden Crypto Treasures: The Growth Potential of NEO, $RBLZ, and EGLD</a></li>
</ul>
<p>However, the fickle nature of cryptocurrencies means that market conditions could change quickly. YearnFinance faces stiff competition from protocols like Aave and Lido. For now, YFI appears to be benefiting from its pole position in DeFi’s yield generation race.</p>
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<p>The post <a href="https://captainaltcoin.com/yearn-finance-yfi-market-cap-witnesses-a-60-surge-analyst-shares-what-triggered-the-sudden-upswing/" rel="noopener noreferrer nofollow">Yearn Finance (YFI) Market Cap Witnesses a +60% Surge: Analyst Shares What Triggered the Sudden Upswing</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Yearn Finance (YFI) Market Cap Witnesses a +60% Surge: Analyst Shares What Triggered the Sudden Upswing

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