Crypto News (YFI) Just Surged 20% Due to Coveted Coinbase Listing

In what has to be one of the fastest turnarounds ever,’s YFI token is being listed on Coinbase just two months after its launch.

The leading decentralized finance coin, which is currently the only one with a market capitalization over $1 billion, was just revealed to have garnered a coveted Coinbase listing.

On September 10th, the official Twitter account of Coinbase Pro wrote:

“On Monday September 14, our YFI-USD order book will enter transfer-only mode, accepting inbound transfers in supported regions. Orders cannot be placed or filled. Trading will begin on or after 9AM (PT) Tuesday Sept 15, if liquidity conditions are met.”

As the announcement notes, Coinbase’s order books/trading pairs for the Ethereum-based coin are not yet activated. They will be activated once there is enough liquidity in the books.’

Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000

YFI Surges 20% On Announcement

YFI has surged over 20% off the announcement. In the past thirty minutes alone, the coin is up by over 14%. But in the past day, it has gained over 20% despite stagnation in the prices of Bitcoin and Ethereum.

Chart of YFI's price action over the past few days from
Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million

The Ethereum DeFi Coin Has Room to Rally

Analysts think the coin will rally further than it already has. is getting into decentralized insurance, which is a trend that analysts say is worth billions of dollars. On the potential that decentralized insurance has, Fred Ehrsam, partner at Paradigm, said:

“Crypto-native insurance – on-chain insurance covering protocols and DAOs – has the potential to be the next big financial primitive in DeFi. The market size could be enormous and the initial wedge is credible.”

Santiment reported last week that these following on-chain trends signal that YFI is likely to move higher in the weeks ahead:

  • YFI is being deposited into Aave’s lending pool.
  •’s social media volume has maintained despite recent price action.
  • YFI is being withdrawn from centralized exchanges and put to work in DeFi.
Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000
Photo by Jason Leung on Unsplash
Price tags: yfiusd, yfibtc
Charts from (YFI) Just Surged 20% Due to Coveted Coinbase Listing

How useful was this post?

Click on a star to rate it!

As you found this post useful...

Follow us on social media!

Inline Feedbacks
View all comments

Related Crypto News

The great unbanking: How DeFi is completing the job Bitcoin started
While most of us will prefer to forget the horrors of 2020, DeFi may well prove to be the...
US Banks Can Now Hold Reserves for Stablecoin Issuers, Says Federal Banking Regulator
The U.S. Office of the Comptroller of the Currency (OCC) on Monday published a letter clarifying that national banks...
Equilibrium receives Web3 grant to develop its universal DeFi module
Web3 Foundation has an established history of offering grants of up to $100,000 for groundbreaking technologies. Decentralized finance startup...
Earth needs Bitcoin as economy hits ‘debt saturation point’ — Keiser
Earth is reaching a historic “inflection point,” Keiser warns after Singapore’s central bank admits that more debt is not...
Global Hashpower Exchange Launches World’s First Exchange Dedicated to Hashpower Futures –
September 22, 2020 – Global Hash Power Exchange today announced the launch of, the world’s first crypto exchange...
Canada’s first regulated crypto exchange Wealthsimple Crypto goes live
Winklevoss brothers-founded Gemini powers the first regulated crypto exchange in Canada. Wealthsimple Crypto, the first regulated cryptocurrency exchange in...

Featured Crypto News

This On-Chain Indicator Looks As It Did Prior to Bitcoin’s 2017 Rally
On a macro scale, Bitcoin has yet to break out. Despite surging around 20% in the past 1.5 months,...
Daily Ethereum transactions hit a new historical high amid DeFi boom
The previous all-time high in daily transactions was recorded in 2018. Daily transactions on the Ethereum blockchain have just...
Ripple (XRP) Above 100 SMA Signals Fresh Increase: The Big Picture
Ripple is slowly moving into a positive zone above the $0.2480 support zone against the US Dollar. XRP price...
Technicals Suggest Bitcoin Looks Ready For Another Leg Higher Over $11K
Bitcoin price corrected lower, but it found support near the $10,750 zone against the US Dollar. BTC is currently...
Tether market cap increases almost 4X in 2020 to $15 billion
Tether supply surges to $15 billion but it could still be a house of cards The surging DeFi sector...
Scarily Accurate Analyst Thinks Bitcoin Will Hold $10,000, Triggering Strong Growth
Bitcoin has flirted with falling under $10,000 multiple times over the past week. If you take a look at...