Ethereum, Tezos & Yearn.Finance – American Wrap: 12/10/2020

Ethereum Price Aiming For $800 As Institutional Investors Buy The Dip

The largest cryptocurrency trust fund, Grayscale, has recently purchased around 131,254 Ethereum pushing its total to $1.66 billion at current prices. Ethereum has managed to defend a critical support level on the daily chart and it’s aiming for higher highs.

Tezos Price Shows Severe Signs Of A Potential Pullback Towards $1.7

Tezos has been trading inside a descending wedge on the daily chart since June 2020. Unlike other cryptocurrencies, Tezos hit its 2020-high of $4.49 on August 13 and has been consolidating since then. 

Yearn.Finance Price About To Rebound As The DeFi Protocol Reports Net Income Of $3.8 million

Yearn.Finance (YFI) attempted a recovery above $32,00 on December 2 only to retreat below $25,000 at the time of writing. The popular DeFi-token lost over 16% on a week-to-week basis and moved back to the 31st position in the global cryptocurrency market rating. With the current market capitalization of $748 million, YFI goes right after IOTA and Uniswap in the ranking. 

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