cryptomines

cryptomines

Coinbase Pro is listing popular DeFi token; Yearn.Finance (YFI)

Spread the love

Coinbase Pro has announced another token listing that surprised the crypto industry. That token is one of the biggest and most important tokens in the DeFi sector, Yearn.Finance (YFI).
Yearn.Finance (YFI) has seen quite an impressive price performance recently. The coin’s price climbe by more than 110,377% in the last two months since its launch.
At the time of launch, its price was already quite impressive, being twice as high as the price of ETH. By September 1st, the coin reached its ATH and became the most valuable coin in the history of the cryptocurrency sector.
Back in December 2017, Bitcoin made history by hitting $20,000 per coin. On September 1st, 2020, YFI outperformed it by becoming the most valuable coin ever, with a price of $33.981.
The performance clearly impressed Coinbase, which now aims to start a four-phase launch of the coin, paired against USD. The launch will start in three days, on Monday, September 14th.
Coinbase will start by accepting inbound transfers. As soon as Coinbase gets a functional YFI supply. official trading is ready to commence. As said, there will be four phrases, including transfer-only, post-only, limit-only, and full trading.
The importance of Coinbase listing
YFI has been doing very well in the last two months. However, getting listed on Coinbase will be pretty significant for any altcoin, and especially a DeFi one that has just seen such a meteoric surge.
Another reason why this is so important for YFI is the fact that its listing means that Coinbase doesn’t consider it a security. Coinbase has been extremely cautious about the coins it lists, and any coin that get on the exchange is almost certainly not a security.
Coinbase did recently start adding quite a few coins, and so YFI’s addition is not a unique development. Still, this doesn’t reduce its significance, nor the importance of the token itself.
 

Leave a Reply

Your email address will not be published.