The price of YFI (Yearn Finance) rose by 30% in a single day!

News • 2021/12/17 • by Remitano

Key Takeways

Last week, Yearn Finance said in a tweet that they bought $7,526,343 worth of YFI on the open market for an average price of $26,651.
CNBC's poll partner, Spectrem, says that wealth managers might have a hard time because of the generational divide in investing.
It sold for $187,500 at Christie's auction that was all about Wikipedia. Wales used an iMac to start Wikipedia and it sold for that amount.

Yearn bought $7,526,343 worth of YFI on the open market. Every time we got 282.4 YFI, it cost us $26,651. (0.77 percent of the entire supply.) This year, less YFI is being sold than last year at this point.

Because Yearn has been making more money than ever before, the company's treasury "had more than $45 million in savings," they say.

Analyst Adam Cochran talked about the move and said that Yearn is working on more projects, including a new tokenomics system that will "distribute fees to holders, now looking at veCRV model xSushi models."

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This all seems to have had a big impact on the price of YFI, the token that runs the platform. YFI is now trading for about $27,000. The price of the token was about $19,000 last week.

There has been a 41% rise in the last three days, 30% of which happened in the last 24 hours.

In a new study, 83% of millennial millionaires possess cryptocurrency

When it comes to cryptocurrency, 2021 has been a big year for institutional crypto investments and young people who have made a lot of money with it.

If you look at a recent report from CNBC, most millennial millionaires have invested a lot of money in cryptocurrency and plan to keep doing so through 2022. More than $1 million in assets were asked about, and 83 percent of young millionaires said they had invested in cryptocurrencies.

More than half of the people who were asked said they had at least 50% of their assets in cryptocurrency. One-third of the people who took the survey said that they have at least three-quarters of their money in crypto assets.

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People who invested in meme currencies on TikTok made millions of dollars in 2021, no matter what the poll said.

Christie's sold NFT's first Wikipedia edit for $750K

The auction house Christie's sold Wikipedia's first non-fungible token (NFT) in January, and now the site is making more history by selling its first NFT.

Christie's auctioned off two items related to Wikipedia on Wednesday. Jimmy Wales, the co-founder of Wikipedia, put them up for sale.

An NFT of Wikipedia's first change sold for $750,000 at an online auction called "The Birth of Wikipedia." A Strawberry iMac used by Wales to start Wikipedia sold for $187,500.

Wales wrote "Hello, World!" when the site opened on January 15, 2001. It was the first message the site's co-founder put on the NFT lot in 2001.

It uses code from 2001 to keep the look and feel of Wikipedia's home page the same. When you go to the NFT's page, there is also a button you can use that lets you change the page, which can be done again at any time.

A Christie's senior expert says that the auction's outcome "indicates that collectors are becoming more interested in the history of the internet."