Cryptocurrencies are known for their crazy ups and downs, and Yearn Finance’s $YFI token recently proved that it is no exception. After an incredible rally that had everybody convinced that it was the best crypto to buy in 2023, $YFI took a sudden 50% nosedive in just a few hours. Now, investors are swiftly eyeing safer options, and one name that keeps popping up is Galaxy Fox ($GFOX).
Let’s dig deeper into why $YFI’s value has plummeted and why $GFOX is the best alternative for investors seeking safer options.
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The Yearn Finance Plunge
On November 18, Yearn Finance’s $YFI token plummeted by more than 43% in just 5 hours, leaving investors scratching their heads and scrambling to make sense of it all. More than $300 million of the coin’s market capitalization was wiped out in this dramatic event.
Yearn Finance is a popular DeFi player that has been doing pretty well in the crypto market. Before the plunge, $YFI rallied from $9,000 to $15,00
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