YFI skyrocketed, US authorities went hunting
The last week might have been stressful for you (not very, we hope), but the cryptocurrency market was quiet and calm, as if all the borders had already been opened, and the assets went on a long-awaited vacation: BTC slowed down its decline and traded in a narrow range, and ETH slightly strengthened. And while the ‘tycoon’ of the digital market lounged on the beach, lazily sipping cocktails, other assets did not miss the chance to prove themselves.
Last week, the largest cryptocurrency exchange Coinbase announced the listing of the YFI token and the upcoming yearn.finance coin trading on Coinbase.pro platform. Amid this, YFI rallied by $6000, which is more than half of the current bitcoin price!
The exchange started taking incoming deposits on Monday, September 14, and launched trading on Tuesday. It is worth noting that YFI, which initially cost only $35, gained more than 100,000% in September, reached the $38,000 mark and continues its move north. The yearn.finance asset became the first cryptocurrency that managed to outperform BTC.
Meanwhile, US authorities declared open season on Monero, promising to pay $625,000 to anyone who can hack the untraceable XMR coin. The thing is that this “private” asset allows users to make transactions with a high degree of confidentiality and opacity, which the authorities don’t like much. The IRS said that they will be satisfied with any hacking options: from analyzing the data of users of XMR wallets to more complex methods that are able to predict future transactions.
This hype around the coin has fueled traders’ interest: despite the intraday corrective decline, the asset has raised over the week and is likely to continue an active bullish trend. By the way, you can submit an application for developing a hacking project until September 16, so you still have a chance to earn more than half a million US dollars.