YFI plunged 43% in five hours, and its market value evaporated by more than US$300 million, which may cause concern in the community

Bitget App

Trade smarter

Cointime2023/11/19 00:24

By:Cointime

After rising nearly 170% earlier this month, YFI fell more than 43% within 5 hours on November 18, causing concerns in the community about the possibility of an exit scam. According to Coinmarketcap data, during the YFI downturn, its market value evaporated more than $300 million. Some Twitter users claimed that 50% of the token supply is held by 10 wallets controlled by developers. However, Etherscan data shows that some of the holders may be cryptocurrency exchange wallets. In addition, some Twitter users pointed out that short selling may have triggered the crash. Coinglass data shows that open short positions in YFI have increased significantly, indicating that traders began to short the token after the YFI surge in November. (Cointelegraph)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14