YFI prices continue to hit highs of $ 18,000 after partnering with FTX

* Note that this is not an investment recommendation, all information should only be referenced *

Yearn.finance's YFI token has hit an all-time high following the announcement of a partnership with FTX.

YFI prices have risen 30% in the past 12 hours from $ 14,017 to $ 18,169, beginning price discovery.

YFI price

The term "price discovery" is when the digital asset hits a new record high or its market test a new high.

YFI initiated price discovery for the first time in 8 days, having hit a previous high of $ 16,666.

A few factors could trigger YFI's bullish momentum but the most prominent may be its partnership with FTX.

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Yearn.finance developer, Andre Cronje, said he is partnering with FTX CEO Sam Bankman-Fried.

FTX - one of the top cryptocurrency derivatives exchanges, has had many partnerships with DeFi projects in recent weeks.

Recently, FTX supported the launch of a decentralized exchange (DEX) named Serum and acquired Blockfolio.

The potential partnership between FTX and yearn.finance matches FTX's activities on both the DeFi and DEX markets.

During the past month, yearn.finance's development team has been rolling out various products. For example they recently announced the launch of yinsure.finance, which is one of the first encrypted insurance services in the DeFi space, alongside the Nexus Mutual.

As predicted by prominent venture capitalists, such as Kelvin Koh of Spartan Black and Fred Ehrsam of Paradigm, "crypto insurance in DeFi has the potential to become a billion dollar market".