At present, Yearn.finance is experiencing a surge in its price in recent days. The data from TradingView shows that on December 15, 2021, the price of YFI was at a unit price of $18,844 per YFI, a low price for the DeFi aggregator.
However, by December 17, 2021, the price of YFI experienced 56.48%, which brought its price all the way up to $29,488. The data shows that YFI managed to hit the mentioned price in a matter of 48-hours.
The data shows that even the trading volume for YFI ended up being spiked. The trading volume experienced a 220% surge in its trading volume, bringing it all the way up to $844 million from December 15 to December 17.
The reason behind the surge in YFI’s unit price and trading volume was an announcement it made recently. Just recently, the team behind the Yearn.finance protocol revealed to the entire YFI community what they had been up to.
They revealed that they had been buying back the YFI tokens. They confirmed that they had been involved in this activity since the month of November.
The team has announced that as of now, they have a total of 282.4 YFI in their possession, and they managed to acquire each YFI at an average price of $26,651. The team has confirmed that they will continue with their buying back activities and have allocated a particular fund worth $40 million for the purpose.
Then there is Hxro that has also experienced an uptrend in its price. This time, it was the VORTECS graph from Cointelegraph Markets Pro that started showing prediction of gains on Hxro. It was on December 14, when the VORTECS graph showed a bullish trend.
The graph showed that the price of HXRO was in the green zone, making it all the way up to a 77 score. Surprisingly, right after 45 hours of the bullish line, the price of HXRO ended up experiencing 13.2%.
The surge was observed right after the founder of Hxro appeared at one of the podcasts where he discussed the future of the project. He also went ahead and discussed the future of Bitcoin.
The cryptocurrency getting the third mention is Arweave that reportedly experienced a surge in its price from December 15 to December 16.
The data from VORTECS showed that the price of Arweave was to grow up to the score of 77. It was 24-hours before Arweave actually started picking up on its price. In the next couple (December 15 & December 16), the price of Arweave surged by 40.78%.
The network experienced the rally right after the protocol developers announced the achievement of achieving 2.19 million transactions on their Bundlr Network.