While the volatility in the cryptocurrency sector is nothing new, price surges are still newsworthy, as well as shocking when they jump beyond expectation. The yEarn.finance (YFI) token has surprised the market and spiked consistently, hitting a new all-time high.
Currently trading at $13,048, the YFI token hit an impressive record high of $16,700 on Thursday the 20th of August. Although still a new token with its launch just over a month ago, the token is easily the asset currently most talked about in the cryptocurrency sector today.
Because the token is still quite fresh in the market there is no long-term chart to use in analyzing the token and its trajectory. However, the short time frames of 1 hour and 6 hours show impressive results for the token.
YFI’s movement is also being consistently compared with that of Bitcoin. Bitcoin is currently trading at $11,717 and has been struggling to break the $12,000 for a minute now. This feat, still unachieved, has been significantly dwarfed by YFI which has now surpassed the Bitcoin price.
YFI interestingly jumped from $3 and scaled the $13,000 mark in about a month after its launch on the 18th of July. Just about 24 hours after YFI launched, it had jumped over $1,000.