ETHFI once soared past a new high of $8.6! Clear away the haze of plummeting after airdrops

This website offers cryptocurrency investment opportunities, including the option to re-stake the Ether.fi governance token (ETHFI). Currently, the price of ETHFI has soared to a high of $8.66, and investors can consider waiting for a period of time after the price surges before selling to obtain higher returns.

According to OKX quotations, ETHFi has now fallen back to $7.46, but its 24-hour increase is still more than 28%, which is better than Bitcoin and Ethereum, which fell slightly today.

Liquidity re-pledge protocols such as Ether.Fi have become a hot new favorite in the field of decentralized finance (DeFi), allowing pledged Ether to be re-pledged on other protocols and DApps and participate in their verification process.

DeFiLlama data shows that Ether.fi is currently the leader in the field of liquidity re-hypothecation, and since the beginning of this year, the total value locked (TVL) has surged from US$100 million to more than US$3 billion. In addition, competitors such as Kelp DAO, Puffer Finance, Renzo, and Swell have also attracted a large influx of funds, ranging from hundreds of millions of dollars to more than $1 billion.

The first wave of ETHFI airdrops officially started on March 18, and then rose to $5 on Binance. However, the increase was weak and fell below $3 a few days later.

Based on ETHFI’s continued upward trend, DeFi analyst Ignas pointed out that ETHFI’s strong performance may boost the valuations of other Liquidity Crown Tokens (LRT) that are about to be airdropped. Ignas said in the post: The higher the price of ETHFI, the higher the relative valuation of all other LRT governance tokens will be. The higher the ETHFI, the easier it will be to release airdrop bonuses such as Swell, Renzo, Puffer, Kelp and EigenLayer.

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