{"id":445741,"date":"2020-10-07T17:00:52","date_gmt":"2020-10-07T17:00:52","guid":{"rendered":"https:\/\/ktsl888.com\/?p=445741"},"modified":"2024-06-11T14:06:48","modified_gmt":"2024-06-11T14:06:48","slug":"coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/","title":{"rendered":"Coinbase Users Lose $25K On Yearn.Finance Since DeFi Token&#8217;s Debut"},"content":{"rendered":"<p>Timing when to buy in crypto or any market is a difficult task. Eager DeFi investors learned this the hard way if they rushed to buy Yearn.Finance (YFI) the <a href=\"https:\/\/ktsl888.com\/news\/yfi-reclaims-support-post-coinbase-listing-new-all-time-highs-in-sight\/\">moment it was listed on Coinbase<\/a>. From that moment on, its been almost nothing but downside since, leaving anyone who bought that &#8220;top&#8221; with a $25K paper loss on hand.<\/p>\n<p>Will YFI recover and soften the sting of such a dramatic fall from grace, or will investors continue to yearn for their money back?<\/p>\n<h2>How A Coinbase Listing Has Become The Crypto Industry Kiss Of Death<\/h2>\n<p>Once upon a time in the cryptocurrency market, <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/coinbase-allows-bitcoin-cash-trading\/\">a Coinbase listing meant big gains<\/a>. Even just rumors of a potential listing sent XRP soaring in early 2018 from $1 to more than $3.50 at its peak.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/news\/yfi-on-life-alert-after-weak-attempt-to-hold-support\/\">Yearn.Finance\u00a0(YFI) On \u201cLife Alert\u201d After Weak Attempt To Hold Support<\/a><\/strong><\/em><\/p>\n<p>These days, it is more like a kiss of death than getting a spin on the wheel of fortune. Take Yearn.Finance for example. From the moment the digitally scarce DeFi token made its debut on the exchange, <a href=\"https:\/\/ktsl888.com\/news\/yfi-reclaims-support-post-coinbase-listing-new-all-time-highs-in-sight\/\">its fallen 65% or more high to low<\/a>.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-445762 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/10\/yearn.finance-yfiusd-coinbase.png?fit=860%2C860\" alt=\"\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">YFIUSD Daily Coinbase Death Spiral | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/YFIUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p>The nasty-looking chart above is the Yearn.Finance YFIUSD daily chart from Coinbase, showing how <a href=\"https:\/\/ktsl888.com\/analysis\/calls-for-yfi-crash-grows-as-it-confirms-traditionally-bearish-setup\/\">devastating the descent<\/a> has been for anyone who bought just 23 days earlier. Any investors who bought one of the 30,000 YFI tokens to ever exist are now out a full $25K or more at the time of this writing.<\/p>\n<h2>Yearn.Finance (YFI) Head And Shoulders Target Lies Deeper Below<\/h2>\n<p>The Coinbase chart, however, is only just part of the story. Switching to the charts of platforms where the token was listed for much longer, shows the rest.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/all\/defi-token-yearn-finance-yfi-breaks-massive-pattern-neckline-whats-next\/\">DeFi Token Yearn.Finance (YFI) Breaks Massive Pattern Neckline, What\u2019s Next?<\/a><\/strong><\/em><\/p>\n<p>From the moment the DeFi token made its debut on Coinbase, began the &#8220;head&#8221; in a <a href=\"https:\/\/ktsl888.com\/courses\/intermediate-crypto-trading-101\/lessons\/chart-patterns\/topic\/tops-and-bottoms\/\">head and shoulders<\/a> chart formation on YFIUSD charts. The bounce you can see above formed the right shoulder and led to a breakdown of the neckline from such strong downward momentum.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-445761 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/10\/yearn.finance-yfiusdt-binance.png?fit=860%2C860\" alt=\"\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">YFIUSDT Daily Head And Shoulders Reversal Pattern | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/YFIUSDT\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p>YFIUSD has fallen a full 65% from the peak of the reversal pattern, with a target closer to the cost of <a href=\"https:\/\/ktsl888.com\/news\/yfi-on-life-alert-after-weak-attempt-to-hold-support\/\">just one BTC<\/a>. At its peak, it was worth over four times the price per Bitcoin.<\/p>\n<p>It isn&#8217;t clear why a listing on Coinbase led to such fallout in an asset that had seen nothing but upside, but perhaps adding another fiat gateway created a flood gate for <a href=\"https:\/\/ktsl888.com\/analysis\/bitcoin-plunges-on-profit-taking-losses-limited-by-coronavirus-outbreak\/\">profit-taking<\/a>.<\/p>\n<p>Eventually, funds will flow back into the low supply DeFi token, easily causing its valuation to increase once again. But as investors learned at the top, timing markets isn&#8217;t an easy task.<\/p>\n<p>Buying the bottom of YFI wherever that may be is likely to be a lucrative position, but attempt to knife-catch this runaway train could prove disastrous.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Timing when to buy in crypto or any market is a difficult task. Eager DeFi investors learned this the hard way if they rushed to buy Yearn.Finance (YFI) the moment it was listed on Coinbase. From that moment on, its been almost nothing but downside since, leaving anyone who bought that &#8220;top&#8221; with a $25K paper loss on hand. Will YFI recover and soften the sting of such a dramatic fall from grace, or will investors continue to yearn for their money back? How A Coinbase Listing Has Become The Crypto Industry Kiss Of Death Once upon a time in the cryptocurrency market, a Coinbase listing meant big gains. Even just rumors of a potential listing sent XRP soaring in early 2018 from $1 to more than $3.50 at its peak. Related Reading | Yearn.Finance\u00a0(YFI) On \u201cLife Alert\u201d After Weak Attempt To Hold Support These days, it is more like a kiss of death than getting a spin on the wheel of fortune. Take Yearn.Finance for example. From the moment the digitally scarce DeFi token made its debut on the exchange, its fallen 65% or more high to low. YFIUSD Daily Coinbase Death Spiral | Source: TradingView The nasty-looking chart above is the Yearn.Finance YFIUSD daily chart from Coinbase, showing how devastating the descent has been for anyone who bought just 23 days earlier. Any investors who bought one of the 30,000 YFI tokens to ever exist are now out a full $25K or more at the time of this writing. Yearn.Finance (YFI) Head And Shoulders Target Lies Deeper Below The Coinbase chart, however, is only just part of the story. Switching to the charts of platforms where the token was listed for much longer, shows the rest. Related Reading | DeFi Token Yearn.Finance (YFI) Breaks Massive Pattern Neckline, What\u2019s Next? From the moment the DeFi token made its debut on Coinbase, began the &#8220;head&#8221; in a head and shoulders chart formation on YFIUSD charts. The bounce you can see above formed the right shoulder and led to a breakdown of the neckline from such strong downward momentum. YFIUSDT Daily Head And Shoulders Reversal Pattern | Source: TradingView YFIUSD has fallen a full 65% from the peak of the reversal pattern, with a target closer to the cost of just one BTC. At its peak, it was worth over four times the price per Bitcoin. It isn&#8217;t clear why a listing on Coinbase led to such fallout in an asset that had seen nothing but upside, but perhaps adding another fiat gateway created a flood gate for profit-taking. Eventually, funds will flow back into the low supply DeFi token, easily causing its valuation to increase once again. But as investors learned at the top, timing markets isn&#8217;t an easy task. Buying the bottom of YFI wherever that may be is likely to be a lucrative position, but attempt to knife-catch this runaway train could prove disastrous.<\/p>\n","protected":false},"author":517,"featured_media":445749,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1393,6664,54512,79663,79664,79667,79666,81710],"class_list":["post-445741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-coinbase","tag-crypto","tag-defi","tag-yearn-finance","tag-yfi","tag-yfibtc","tag-yfiusd","tag-yfiusdt"],"acf":[],"yoast_head":"\n<title>Coinbase Users Lose $25K On Yearn.Finance Since DeFi Token&#039;s Debut<\/title>\n<meta name=\"description\" content=\"Timing when to buy in crypto or any market is a difficult task. 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Eager DeFi investors learned this the hard way if they rushed to buy Yearn.Finance (YFI)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-07T17:00:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T14:06:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/10\/yearn.finance-coinbase-yfi-defi-Depositphotos_58489077_xl-2015-scaled.jpg?fit=2560%2C1706\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1706\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&quot; Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony &quot;The Bull&quot; Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/\"},\"author\":{\"name\":\"Tony \\\"The Bull\\\" Severino\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Coinbase Users Lose $25K On Yearn.Finance Since DeFi Token&#8217;s Debut\",\"datePublished\":\"2020-10-07T17:00:52+00:00\",\"dateModified\":\"2024-06-11T14:06:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/\"},\"wordCount\":481,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/10\/yearn.finance-coinbase-yfi-defi-Depositphotos_58489077_xl-2015-scaled.jpg?fit=2560%2C1706\",\"keywords\":[\"coinbase\",\"crypto\",\"DeFi\",\"yearn finance\",\"yfi\",\"yfibtc\",\"yfiusd\",\"yfiusdt\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/\",\"url\":\"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/\",\"name\":\"Coinbase Users Lose $25K On Yearn.Finance Since DeFi Token's Debut\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/coinbase-users-lose-25k-on-yearn-finance-since-defi-tokens-debut\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/10\/yearn.finance-coinbase-yfi-defi-Depositphotos_58489077_xl-2015-scaled.jpg?fit=2560%2C1706\",\"datePublished\":\"2020-10-07T17:00:52+00:00\",\"dateModified\":\"2024-06-11T14:06:48+00:00\",\"description\":\"Timing when to buy in crypto or any market is a difficult task. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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