Binance, Others List ETHFI Token, Hits $5.32 ATH

ETHFI token experienced a surge to an ATH of $5.32 following an airdrop and Binance Launchpad round but has dropped by over 35%.

The price of the ETHFI token recently experienced a significant increase, reaching an all-time high (ATH) of $5.32 from its previous level. The price experienced a significant surge immediately after the token’s distribution in an airdrop and participation in a Binance Launchpad round.

However, the joy was short-lived because the token has since collapsed substantially, falling by more than 35 percent. According to the most recent information, the price of ETHFI token on Binance is currently $3.48 and the number of transactions on the platform is significantly higher than $115.2 million.

The trading activity surrounding ETHFI demonstrates the interest it has received from investors and traders alike. Additionally, the Binance Launchpad witnessed a significant amount of staking activity, with almost $2 billion worth of the FDUSD stablecoin and 17.3 million BNB, which no is equivalent to $10 billion being staked.

The recent surge in staking activity demonstrates the widespread confidence and interest in the ETHFI token among members of the cryptocurrency community.

The token’s fully diluted value (FDV) is currently at an impressive $3.6 billion, in addition to its notable performance in the trading market. If the whole quantity of the token were to be in circulation, the FDV would represent the potential market value of the token.

However, despite the initial excitement and high FDV, the price of ETHFI has since decreased, which is indicative of the fickle nature of the cryptocurrency industry. With a maximum quantity of one billion tokens, the ETHFI coin has a maximum potential supply.

The Binance Launchpad designated 20 million tokens for use out of this total quantity. Comparatively, the Binance Launchpad reserved an additional sixty million tokens for the first phase of the token airdrop.

Following this, the second season of the game will distribute an additional 50 million tokens. The vesting schedules for investors and core contributors are different from one another.

Investors anticipate earning 32.5% of the token’s total supply over a two-year vesting period. On the other hand, core donors will earn 23.26 percent of the supply over a slightly extended vesting timeline of three years.

The distribution timeline provides a detailed description of the procedure participants must follow to obtain their allotment of ETHFI tokens.

This organized approach aligns with the fundamental concepts of decentralization and community engagement in the cryptocurrency ecosystem, making the distribution process more equitable and transparent.

Ether.Fi Total Value Locked and Role of ETHFI Token

Recent information obtained from DefiLlama demonstrates that there has been a remarkable increase in the total value locked (TVL) within the Ether-Fi ecosystem. Over the last 30 days, the TVL has experienced a staggering 117% increase, and the total deposits are very close to the $3 billion level.

Ether.Fi is becoming increasingly prominent within the decentralized finance (DeFi) scene, as evidenced by this spike. Restaking is made possible by Ether.Fi, which plays a crucial role in the process and provides stakeholders with the possibility to produce additional returns.

Stakers are rewarded with liquid restaking tokens (LRT) and loyalty points, which can be utilized across various digital finance protocols. ETHFI is the governance token that is used inside the Ether.Fi ecosystem.

It currently has a market capitalization of $409.8 million and a live price of $3.4 per token.