Cryptocurrency giant Binance has released an announcement today that will delight Yearn Finance (YFI) users. According to this announcement; The YFI coin, which was recently listed on OKEx, will now appear on Binance Futures. In this way, users will be able to make futures YFI transactions on Binance Futures.
Binance, the industry leader in terms of trade volume and site traffic, released an announcement today in the morning. Taking a step towards the DeFi industry, Binance announced that it will now support futures transactions with Yearn Finance.
Binance users will be able to open YFI contracts with leverage of up to 50x starting August 31. These contracts, where USDT will be used as collateral, will offer investors the opportunity to earn more profits while also bearing more risks.
YFI Left Even Bitcoin Behind
Yearn Finance (YFI) has been one of the most popular coins in the cryptocurrency world since mid-July. YFI, which most people use for yield farming, rapidly gained value as a result of this popularity.
The price of YFI, defined as “worthless” by the founder of Yearn Finance; It increased from 0 to 2 thousand dollars in the first day of its release. YFI continued this rise in the following days and started trading at tens of thousands of dollars. YFI price increased to 37 thousand dollars the other day thanks to the rapidly growing user base. Thus, YFI broke the $ 20,000 price record that Bitcoin established in December 2017 and became the most valuable crypto currency of all time.