YAM Token Holders ‘Burnt the Hardest’ After Price Plunges to Zero

Cointelegraph

Published Aug 13, 2020 07:33AM ET

Updated Aug 13, 2020 10:20AM ET

Yam Finance, an experiential Decentralized Finance (DeFi) protocol, saw its market cap crash down to zero within minutes on Aug. 13. With it, major DeFi tokens, including Compound, Yearn Finance and Balancer, plunged as well.

Compound, the second-biggest DeFi protocol in the global market, saw its market cap drop by nearly $100 million. Yearn and Balancer, which saw strong momentum in recent weeks, dropped by 7% to 13%.

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