ETHFI recently hit an all-time high (ATH) of $5.32, generating excitement within the Ethereum community. This surge came after the token was listed on Binance and other major exchanges, indicating growing interest and confidence in ETHFI among Ethereum enthusiasts.
Distribution of the token involves allocation through Binance Launchpad and airdrops, with different vesting schedules for investors and core contributors. Meanwhile, Ether.Fi experiences a significant increase in total value locked (TVL), nearing $3 billion. This underscores the increasing importance and durability of ETHFI within the DeFi sector.
ETHFI Token: From All-Time High to Significant Decline
The ETHFI token recently experienced a remarkable surge in price, reaching an all-time high (ATH) of $5.32. This surge followed the token’s distribution through an airdrop and its participation in a Binance Launchpad round. However, the excitement was short-lived as the token witnessed a significant decline, dropping by over 35%.
As of the latest data, ETHFI is being traded at $3.48 on Binance, with a notable trading volume exceeding $115.2 million. This trading activity underscores the attention and interest ETHFI has garnered from investors and traders alike.
Staking Activity on Binance Launchpad
The Binance Launchpad witnessed substantial staking activity, with over $2 billion worth of the FDUSD stablecoin and 17.3 million BNB ($10 billion) being staked. This influx of staking highlights the confidence and interest in the ETHFI token within the cryptocurrency community.
Despite its impressive fully diluted value (FDV) standing at $3.6 billion, reflecting the potential market value if the entire supply were in circulation, ETHFI’s recent decline in price emphasizes the volatile nature of the cryptocurrency market.
ETHFI Token Distribution: A Detailed Overview
Maximum Supply and Allocation Details: The ETHFI token boasts a maximum supply capped at one billion tokens. Out of this supply, 20 million tokens were earmarked for the Binance Launchpad, while an additional 60 million tokens were reserved for the initial phase of the token airdrop. Subsequently, another 50 million tokens are slated for distribution in the upcoming season two.
Distinct Vesting Schedules for Investors and Core Contributors: Investors and core contributors follow distinct vesting schedules. Investors are set to receive 32.5% of the token’s total supply over a two-year vesting period. Conversely, core contributors will receive 23.26% of the supply over a slightly extended three-year vesting schedule.
Structured Distribution Timeline: The distribution timeline outlines the meticulous process by which participants receive their allocation of ETHFI tokens. This structured approach ensures fairness and transparency in the distribution process, aligning with the principles of decentralization and community engagement inherent in the cryptocurrency space.
Ether.Fi: Driving Growth in DeFi Total Value Locked (TVL)
Recent data from DefiLlama highlights a remarkable surge in the total value locked (TVL) within the Ether.Fi ecosystem. Over the past 30 days, the TVL has surged by an astounding 117%, nearing the $3 billion mark in total deposits. This surge underscores the growing prominence of Ether.Fi within the decentralized finance (DeFi) landscape.
Ether.Fi plays a pivotal role in facilitating restaking, providing stakers with the opportunity to generate additional yield. Stakers receive liquid restaking tokens (LRT) and loyalty points, which can be utilized across various DeFi protocols.
ETHFI serves as the governance token within the Ether.Fi ecosystem, with a live price of $3.4 per token and a market capitalization of $409.8 million. This token plays a crucial role in governing the platform and shaping its future developments.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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