Market Wrap: DeFi Token Yearn.Finance Pops 76% as Bitcoin, Ether Make Double-Digit Gains – CoinDesk – CoinDesk

Market Wrap: DeFi Token Yearn.Finance Pops 76% as Bitcoin, Ether Make Double-Digit Gains – CoinDesk – CoinDesk

Cryptocurrencies opened the week jumping big, a reversal from a weekend market dive.

  • Yearn.Finance (YFI) trading around $50,951 as of 21:00 UTC (4 p.m. ET). Jumping 76% over the previous 24 hours.
  • Ether (ETH) trading around $2,668 as of 21:00 UTC (4 p.m. ET). In the green 34% over the previous 24 hours.
  • Ether’s 24-hour range: $1,970-$2,668 (CoinDesk 20)
  • Bitcoin (BTC) trading around $39,801 as of 21:00 UTC (4 p.m. ET). Gaining 19% over the previous 24 hours.
  • Bitcoin’s 24-hour range: $33,141-$39,801 (CoinDesk 20)

DeFi tokens explode

Yearn.finance (purple) and uniswap (yellow) performance so far in 2021.
Source: TradingView

The decentralized finance, or DeFi, sector of the cryptocurrency market is making major performance jumps Monday. The token of lending protocol Yearn.Finance is up over 76% as of press time. In addition, UNI, the token of the leading decentralized exchange by volume, Uniswap, has climbed 54% as of press time. 

According to charting software TradingView, so far in 2021 both yearn
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