We have already mentioned in the Arab Bitcoin YFI currency and how it achieved a record high in a short time.

This growth continued overnight after news emerged of the coin being listed for trading on the cryptocurrency exchange Binance.

The listing will certainly help YFI to expand and increase the currency’s circulation and will ease concerns about the downtrend caused by reports that the founder of Yearn.finance is likely to leave the project.

YFI coin price and its impact on the news of the listing on Binance:

At the time of writing this report, trade The YFI coin is down at just over $6000, which is a whopping 41 percent up from its daily lows.

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The cryptocurrency has experienced massive growth over the past two weeks, which started to slow once news reports started circulating about the possible departure of Yearn.finance founder and lead developer Andrei Kong.

It is possible that the official departure of the founder of the YFI project could lead to a sharp sell-off of the currency.

But at the moment, the currency is excited by the news of its listing on Binance, recording a 34% increase in the last 24 hours.

Binance announced the listing process yesterday, as the announcement came as follows:

Binance will list trading pairs (YFI) and trading will be open to the following pairs:

YFI/BNB, YFI/BTC, YFI/BUSD, YFI/USDT

On 08/10/2020 12:00 PM (UTC) users can start depositing YFI in preparation for trading.

Immediately after the announcement, YFI coin added $80 million to its market cap, and the coin price reached as high as $7,100 before facing selling pressure and falling back to the $6000 level at the moment.

Yearn.finance continues to show signs of positive growth:

YFI’s recent growth has occurred in the absence of any regulated investment from venture capital.

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This resulted in a large community that helped incubate the growth of both the protocol and its cryptocurrency.

Spencer Nunn, president of DTC Captial, spoke about the strength of the YFI community, noting that he was impressed by the way they handled the situation surrounding Kong’s possible exit from the protocol, stating:

I’m still amazed at the YFI community, it has proven to be one of the best active communities in decentralized finance, but how the community rallied around the founder the day before yesterday including behind the scenes was something I wouldn’t have expected.

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The confluence of the growing closed value of the Year.finance project, the large community, and the upward trajectory of the YFI coin price all indicate that the future of the project is bright.

The yearn.finance project is currently ranked 64th in terms of market capitalization, increasing by 34% in the past 24 hours.

The yearn.finance project has a market capitalization of $180.22 million with a trading volume of $50.29 million in the last 24 hours.

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