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Origin of the Yellowstone Caldera. Caldera, which lies at the heart of Yellowstone National Park, is the tip of a huge volcano, which is in turn, bound to a hot spot.This is a fixed point within the earth's crust, where hot magma rises to the top. This accumulates below the earth's surface, thereby forming an underground magma chamber.aldera, which lies at the heart of Yellowstone National Park, is the tip of a huge volcano, which is in turn, bound to a hot spot. This is a fixed point within the earth's crust, where hot magma rises to the top.
How the Yellowstone Caldera Formed. The Yellowstone caldera was formed after an explosion of magma nearly 600,000 years ago. Letâs start with some background information. The Earth is made of three layers: the core at the center, surrounded by the mantle, and then the crust.