Polychain Capital Controls 1.6% of Yearn Finance Supply

0

Mutual fund Polychain Capital raised its total investment to $ 8.1 million by allocating its budget for Yearn Finance (YFI). YFI token, an Ethereum-based DeFi project and developed by Andre Cronje, is currently trading at $ 17,300.

Polychain Capital, a San Francisco-based investment fund, continues to invest in Yearn Finance (YFI), which is more expensive than Bitcoin (BTC). Polychain Capital, which received 329 YFI in the last week of October, increased its budget for YFI this week and received 141 more YFI tokens.

Almost 2 percent of the supply is in his hands

Yearn Finance token, developed by Andre Cronje, has a maximum supply of 30 thousand units. This is the reason why the YFI token is currently being traded at even a higher price than Bitcoin. Polychain Capital has received a total of almost $ 8.5 million worth of YFI tokens with its investment in recent weeks and currently controls 1.6 percent of the total supply.

According to CoinGecko data, the first Yearn Finance (yEarn) users could buy it for a fee of $ 30. This token climbed to over $ 40,000 in mid-September, and doubled Bitcoin’s record of $ 20,000. This indicates that the YFI token price has increased by more than 55 thousand percent. While YFI has become one of the most popular tokens in the industry with this chart, according to Messari researcher Mason Nystrom, Polychain Capital currently controls the 10th address that contains the largest amount of YFI tokens.

See Also
Yearn.Finance (YFI) Owners Don't Make Some Profit

LEAVE A REPLY

Please enter your comment!
Please enter your name here