Future

<p>The post <a href="https://coinpedia.org/price-analysis/yearn-finance-experiences-bullish-surge-amid-altcoin-awakening-faces-allegations-of-price-manipulation/">Yearn.Finance’s Bullish Run: Is Price Manipulation at Work?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The world of decentralized finance (DeFi) is certainly an interesting and dynamic one!</p> 
<p><a href="https://coinpedia.org/price-analysis/popular-defi-platform-yearn-finance-yfi-is-deep-trouble-it-is-rugged/">Yearn.finance (YFI)</a> has recently stolen the spotlight, impressing investors with its outstanding performance in yield farming. This mid-sized altcoin, boasting a total value locked (TVL) of about $332 million, has surged by a whopping 75% in the last four weeks. As of Monday’s London session kick-off, YFI confidently traded at $8,952, signaling a bullish trend during the ongoing altcoin resurgence.</p> 
<h2 class="wp-block-heading" id="h-yfi-s-skyrocketing-success">YFI’s Skyrocketing Success </h2> 
<p>Despite the market’s positive vibes, recent data analyses have thrown shade on YFI’s climb. Lookonchain, a key player in on-chain intelligence, highlighted potential price manipulation, mainly through the open interest (OI) market on the dYdX exchange. Adding to the intrigue is a crypto whale, previously linked to <a href="https://coinpedia.org/decentralized-exchange/sushiswap-exchange-review/">Sushi (SUSHI)</a> price swings, now suspected of pulling strings behind YFI’s valuation through dYdX.</p> 
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   <p lang="en" dir="ltr">3/ On Nov 14 and Nov 15, wallet"0xCCb6" and wallet"0xB017" deposited a large amount of <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> into <a href="https://twitter.com/hashtag/dydx?src=hash&amp;ref_src=twsrc%5Etfw">#dydx</a> via multiple addresses, possibly to go long <a href="https://twitter.com/search?q=%24YFI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$YFI</a>.<br><br>After that, the price of <a href="https://twitter.com/search?q=%24YFI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$YFI</a> started to rise. <a href="https://t.co/hFJSTPBbCa">https://t.co/hFJSTPBbCa</a><a href="https://t.co/Pf7Y2fCS4V">https://t.co/Pf7Y2fCS4V</a> <a href="https://t.co/M2PUbrwh4R">pic.twitter.com/M2PUbrwh4R</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1726248479645921701?ref_src=twsrc%5Etfw">November 19, 2023</a>
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<p><strong>Manipulation on the horizon?</strong></p> 
<p>Antonio, dYdX’s founder, reports a significant spike in YFI’s open interest—from roughly $0.8 million to a staggering $67 million. This surge, attributed to a lone whale, is believed to be a strategic move to impact the company’s insurance pool.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/popular-defi-platform-yearn-finance-yfi-is-deep-trouble-it-is-rugged/">Popular DeFi Platform, Yearn Finance (YFI) is in Deep Trouble: It is Rugged?</a></p> 
<h2 class="wp-block-heading" id="h-yfi-s-technical-wins-and-challenges">YFI’s Technical Wins and Challenges</h2> 
<p>Despite manipulation concerns, YFI’s price trajectory stays bullish, driven by key technical indicators. A notable event is the daily golden cross between the 50 and 200 Moving Averages (MA)—a positive signal for seasoned traders. However, since November 17, the altcoin has seen a 37% decline, hinting at limited room for further corrections if it wants to keep its bullish momentum.</p> 
<p>The daily Relative Strength Index (RSI) is currently retesting the crucial region around 50, a make-or-break level for YFI bulls. According to the Elliott wave perspective, YFI seems ready for its third wave after the ongoing correction.</p> 
<h2 class="wp-block-heading" id="h-looking-ahead-the-future-of-yfi"><strong>Looking Ahead: The Future of YFI</strong></h2> 
<p>In the current scenario, optimism and caution surround YFI. While the altcoin showcases solid technical fundamentals for growth, allegations of market manipulation cast a shadow on its recent success. Investors and observers will be watching closely, eager to see how these factors influence YFI’s future price action.</p> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/yearn-finance-price-surges-will-yfi-price-repeat-history-in-the-upcoming-bull-run/">Yearn Finance Price Surges! Will YFI Price Repeat History In The Upcoming Bull Run?</a></p> 
<p>Yearn.finance’s story unfolds as a captivating journey—a tale of successes, suspicions, and the delicate dance between market forces.</p>

Yearn.Finance’s Bullish Run: Is Price Manipulation at Work?

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