CLO (Yei Finance) fell 4.05% in the last 24 hours.

Gate News Bot news, on October 24, according to CoinMarketCap, as of the time of writing, CLO (Yei Finance) is currently priced at 0.32 USD, falling 4.05% in the last 24 hours, with a high of 0.46 USD and a low of 0.30 USD. The current market capitalization is approximately 41.6 million USD.

Yei Finance is a multi-chain DeFi platform that offers lending, trading, and cross-chain bridging services. Its main products include:

1. Pre-stored treasury: Users can make a one-time deposit to earn returns and Clovis points across multiple chains.

2. YeiLend: Provides a high-yield lending market.

3. YeiSwap: A token exchange platform with no idle liquidity, where users can simultaneously earn trading fees, lending interest, and additional rewards.

4. One-click strategy: Automated yield optimization treasury.

Yei Finance is dedicated to providing users with cross-chain DeFi services, achieving the goal of “deposit once, earn everywhere.”

Important news about CLO recently:

1️⃣ Brand rebranding completed, the project has been renamed to Yei Finance Callisto Network has officially been renamed to Yei Finance, while retaining its original CLO token symbol. This strategic adjustment aims to reposition the project and is expected to attract more investors and user attention. Rebranding typically has a significant impact on a project's market recognition and could be one of the important factors influencing the recent fluctuations in CLO prices.

2️⃣ New trading platform launch enhances liquidity Yei Finance (CLO) was launched on a new trading platform on October 14. This move has increased the liquidity and tradability of CLO, bringing more attention and trading volume to the token. The addition of the new platform has opened up new market opportunities for CLO, which may have affected the recent price trends.

3️⃣ Potential airdrop activities trigger market fluctuations With the launch of the new platform, the market expects there might be an airdrop event for CLO tokens. This expectation may have stimulated short-term demand for CLO, but it may also lead to selling pressure after the launch, affecting the short-term price trend of the token, which explains the recent significant fluctuations in the price of CLO.

From a technical perspective, the CLO price has seen a pullback after a previous rise, which may reflect the market's cautious attitude towards the rebranding of Yei Finance and the launch of the new platform. From a fundamental standpoint, Yei Finance's multi-chain DeFi platform positioning and cross-chain service characteristics still hold market potential, but the actual performance after the project's rebranding will require time to validate.

This message is not intended as investment advice, and investors should be aware of market volatility risks.