Yearn finance gains 36% as DeFi tokens follow Bitcoin's bullish trend

Over the past month DeFi tokens endured a brutal correction which saw the value of many DeFi tokens drop by 40%-70%. The sell-off appears to be primarily led by corrections in Bitcoin and Ether but now that BTC has turned $11K to support, traders are watching to see if YFI and other tokens will continue to rise higher.

Typically, major product launches and updates would cause the underlying token to rise but the overall weakness in the DeFi market caused YFI price to drop lower throughout September and October.

In the past week there have been rumors that lead developer, Andre Cronje, is leaving the Yearn.

Finance project after hackers managed to siphon all the funds from an unreleased project he was working on.

In a recent statement, Cronje said that he is not leaving Yearn.

Finance is important to the long-term trend of YFI, especially considering he has been the brains behind most of Yearn's product development since its inception.

Finance team officially confirmed that Yearn v2 Vaults are under active development.

Any major progress involving Yearn vaults are likely to have a positive impact on the value of YFI. Most of the capital locked in Yearn.

Finance is stored in vaults, which enable investors to earn yields.

The confluence of a highly anticipated new product launch and the overall DeFi market-wide recovery are continuously fueling the sentiment around YFI..