![]() ![]() ![]() ![]() This stability in the OBV could potentially indicate a gradual shift in market sentiment, although a clear trend reversal has yet to materialize. Despite this, the OBV maintained a relatively stable movement throughout the period, suggesting that the selling pressure was not overwhelming. Unfortunately, these bullish periods were short-lived, and the RSI returned to bearish territory shortly after, hovering closer to the neutral 50 line.Ī similar pattern was followed by the On-Balance Volume (OBV), with some ascending movement during the August and November 2022 price increases. However, as the price made upward movements in August and November 2022, the RSI climbed above the 50 line, suggesting temporary bullish momentum. The Relative Strength Index (RSI) remained below the neutral 50 line for the majority of the analyzed period, signaling a bearish sentiment among market participants. Both $1857.2 and $1363.2 were tested thrice as resistance during the period, indicating their significance in the market. The current support was established at $1095.3, which was also tested earlier in the period.Īs the bullish forces tried to enter the market, the price tested its peak resistance at $2355.3, which held itself up for the entire period. $860.9 was tested from August to October 2022, after which the price managed to climb upwards, signaling a bullish rally. These volume spikes indicated periods of increased market interest.ĭuring the observed period, three key support levels emerged $350.1 marked the lowest point and remained unbroken throughout the analyzed period, indicating strong buying interest at this level. A slight increase in volume also appeared as the price rose upward in November 2022. However, two notable surges in volume were observed in May 2022 and again in June 2022. Trading volume remained low for the majority of the analyzed period, signifying a lack of strong buying or selling pressure. Although there were moments of upward movement, these were short-lived and did not shift the overall bearish sentiment in the market. Throughout the analyzed period, the dominant trend for YFII was bearish. In March 2021, DFI.Money announced its partnership with BonFi.In February 2021, DFI.Money partnered with Flux.In February 2021, YFII partnered with Orbits Finance.In February 2021, SakeSwap merged with DFI.Money.In January 2021, DFI.Money partnered with FNX and SIL.In January 2021, DFI.Money introduced Yield Stable Dollar (YSD).Here are some of DFI.Money's major developments: Interestingly, YFII is seen as the eastern while YFI the western version of yearn.finance since it garnered much attention among Chinese users.ĭespite only being launched in 2020, DFI.Money has achieved a lot within a short period.The CRV and BAL pools opened on July 27 and July 28, 2020. Moreover, there is a total supply of 40,000 YFII with 20,000 tokens in each pool.As per the YFII documentation, there were no ICO, pre-mining, or developer team rewards for the token.After the rejection, the Yearn Finance II (YFII/DFI.Money) fork was created by the proposal's supporters to safeguard the idea of its initiator, Cronje, from being manipulated by other traders.The YIP-8 proposal was rejected because some critics felt that Bitcoin's deflationary model was not ideal for yearn.finance and that the community should've rather created its own mechanism to deal with inflation and issue new tokens.This aimed at reducing the YFI issuance rate every week to decrease inflation. Unlike its previous protocol at yearn.finance, YIP-8 proposed a different token emission model, which was similar to the Bitcoin halving model.Cronje was also involved with yearn.finance before founding DFI.Money. Launched in July 2020, DFI.Money (YFII) was founded by Andre Cronje and Lucky Uwakwe. YFII is the native token of DFI.Money used for governance over the network and distributed via voting participation and liquidity provision on Curve or Balancer.ĭFI.Money's journey: The fork Like yearn.finance and its YFI token, DFI.Money is an aggregator with many lending protocols automatically directing user deposits toward lending pools generating the highest yield. The YIP-8 implementation for yearn.finance was previously rejected by YFI holders, which is where DFI.Money came into play. The DeFi-farming aggregator aims to develop products on leveraged trading, automated marketing making, aggregated liquidity provision, etc. DFI.Money, a fork of yearn.finance (YFI), is a Decentralized Finance ( DeFi) platform built on the Ethereum blockchain. ![]()
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