Here's why Ethereum's Ampleforth is shooting 35% higher today

This strong bounce in the multi-million-dollar asset can be boiled down to one thing: the launch of the latest decentralized finance craze, Yam Finance, whose native token is YAM.Ampleforth jumps 35% as Yam Finance launches.

On Aug. 11, the Ethereum ecosystem was blessed with its latest protocol: Yam Finance.

Add yCRV, a "Meta" or aggregate stablecoin issued by Curve, and YAM to a specific Uniswap pool.

Add one or multiple of the eight following tokens to Yam's stake pools to earn YAM on a per-block basis: Wrapped Ethereum, Yearn.

To obtain the latter token mentioned, the Uniswap Pool Share for ETH-AMPL, one must deposit an equal amount of ETH and AMPL into Uniswap.

Ampleforth is surging because there has been an influx of demand for the cryptocurrency as investors have sought to maximize their YAM returns by obtaining pool shares, then depositing that token into Yam Finance.

AMPL isn't the only token being affected by the YAM craze.

Maker, Aave's LEND, Synthetix Network Token, Compound, and Chainlink have seen serious rallies in the 24 hours since the launch of Yam Finance.

It's important to note that despite pulling in hundreds of millions of dollars worth of value, Yam Finance is entirely unaudited.

From a pure price perspective, the best-performing crypto assets of the past two months have been Synthetix Network Token, Chainlink, Cardano, and a swath of other tokens.