Coinbase announces the listing Yearn.Finance (YFI)

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  • Coinbase Pro recently announced the listing of Yearn.Finance, the most expensive crypto in history.
  • Since its launch in mid-July, the coin surged by 110,377%, reaching the price of nearly $34,000.
  • Now, the coin got listed on Coinbase, which is a huge thing as it confirms that it is not a security.

Coinbase Pro announced another token listing that shook the crypto industry. The token in question is one of the biggest and most popular tokens in the entire DeFi sector — Yearn.Finance.

A new addition to Coinbase Pro

Yearn.Finance (YFI) recently saw quite an impressive price performance. The coin’s price went up by more than 110,377% in the last two months since its launch.

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At the time of its launch, the coin’s price was already quite impressive, being twice as high as the price of Ethereum. By September 1st, the coin reached its ATH, becoming the most valuable coin in the history of the cryptocurrency sector.

Back in December 2017, Bitcoin made history by hitting $20,000 per coin. On September 1st, 2020, YFI outperformed it by becoming the most valuable coin ever, with a price of $33.981.

The performance clearly impressed Coinbase, which now intents to start a four-phase launch of the coin, paired against USD. The launch will start in three days, on Monday, September 14th.

Coinbase will start by accepting inbound transfers. However, as soon as the platform gets a functional YFI supply. official trading will be ready to commence. As mentioned, there will be four phrases, including transfer-only, post-only, limit-only, and full trading.

The significance of Coinbase listing

As mentioned, YFI has been doing extremely well in the last two months. However, getting listed on Coinbase will be extremely significant for any altcoin, and especially a DeFi one that has just seen such a meteoric rise.

Another reason why this is a big deal for YFI is the fact that its listing means that Coinbase doesn’t consider it a security. Coinbase has been extremely picky about the coins it lists, and any coin that does get on the exchange is almost certainly not a security.

Of course, Coinbase did recently start adding quite a few coins, and so YFI’s addition is not a unique development. Even so, this doesn’t reduce its importance, nor the importance of the token itself.