Home Business Yearn.finance token tumbles 43%, community speculates on exit scam By Cointelegraph

Yearn.finance token tumbles 43%, community speculates on exit scam By Cointelegraph

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Yearn.finance token tumbles 43%, community speculates on exit scam By Cointelegraph

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Yearn.finance’s (YFI) governance token 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.

YFI token holders on Nov. 18, 2023. Source: Etherscan