Yearn. Finance has surpassed the price of bitcoin. Grayscale may open a separate trust for him

The DeFi project's own yearn.finance (YFI) token is growing this Friday. At the time of publication, it is trading at historical highs around $49,500, surpassing bitcoin, which today also updated records near this mark. However, YFI occupies only the 50th place in the market, since at a comparable price, the number of its coins and capitalization is 600 times lower than that of bitcoin.

YFI, being one of the most well-known representatives of the decentralized finance space, at the last stage showed a noticeable lag behind related tokens. Last week, the project lost $11 million as a result of an exploit of one of its pools, but the developers subsequently made up for the loss. YFI has outperformed bitcoin in the past, rising to $43,000 in September, but then trading below the first cryptocurrency.

In perpetual contracts on Binance, the price of YFI rose above $55,000 on volumes of 3.8 million USDT, indicating a relatively low occupancy of the order books.

The world's largest digital asset management company Grayscale Investments, meanwhile, has issued new cryptocurrency trusts to invest in YFI and some other DeFi tokens. The relevant entries were entered into the Delaware Register of Legal Entities on behalf of the Delaware Trust Company representing Grayscale. At the same time, the number of registered but not launched Grayscale trusts continued to grow. In total, Grayscale now has 33 trusts, but only nine are operating.

Earlier, the company, for example, issued funds for Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Tezos (XTZ) and Filecoin (FIL), which are not yet officially conducting investment activities. Thus, the registration of Grayscale trusts can be considered not as a recognition of the value of individual projects by the company, but as evidence of the presence of market interest in them.

"Grayscale is always looking for opportunities to offer products in line with investor demand. From time to time, we will form such trusts for the purpose of reserving, but this does not mean that we will bring the product to market. Grayscale announces new products when they become available to investors, " Grayscale CEO Michael Sonnenschein said earlier.