Yearn.Finance token tumbles 43%, community speculates on exit scam

Yearn.Finance’s governance token (YFI) plummeted over 43% in just five hours on Nov. 18 after rallying almost 170% early in the month, stirring fears about a possible exit scam. 

During the dramatic drop in value, over $300 million was wiped out in market capitalization from November’s gains, according to data from CoinMarketCap. At the time of writing, the YFI token is trading at $9,069 from $14,185 a day before. However, the token is still up 83% over the past 30 days.

The sell-off has triggered another weekend of fear, uncertainty and doubt (FUD) within the crypto community. On X (formerly Twitter), some users claim that 50% of the token supply was held in 10 wallets controlled by…

Read more on Cointelegraph

37.1K Reads