YFI behind the scene of a DeFi rally
Assets covered: Yearn Finance (YFI)
Metrics used: Exchange Inflow, MVRV, Mean Coin Age, Mean Dollar Invested Age, Active Addresses, Holders Distribution
YFI has been looking quite good just a couple of weeks ago, as we covered. But despite many DeFi tokens surging, Yearn Finance went sideways and even down. Any chances today in YFI?
Signs of potential holder capitulation: last two spikes marked bottoms. And there's also a spike yesterday right in the middle of correction. May be it's too early and too small, we would probably like a price drop to get sharper.
YFI is relatively young token, so we are applying 180 and 90 days time bound MVRV:
What we see here is that long term holders are still in profit. Both MVRV charts are above zero but far from highest toppish levels. Ideally
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