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The ETHFI token recently saw a remarkable surge in its price, hitting an all-time high (ATH) of $5.32. This surge in price followed the tokens distribution via an airdrop and participation in a Binance Launchpad round. However, the excitement was short-lived as the token has since experienced a significant decline, dropping by over 35%.

As of the latest data, ETHFI is currently being traded at $3.48 on Binance, with a notable trading volume exceeding $115.2 million. The trading activity surrounding ETHFI underscores the attention it has garnered from investors and traders alike.

Furthermore, 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.

In addition to its trading performance, the tokens fully diluted value (FDV) stands at an impressive $3.6 billion. The FDV reflects the potential market value of the token if the entire supply were to be in circulation. However, despite the initial enthusiasm and high FDV, ETHFIs recent decline in price indicates the volatile nature of the cryptocurrency market.

The ETHFI token has a maximum supply capped at one billion tokens. Of this supply, 20 million tokens were allocated to the Binance Launchpad, while an additional 60 million tokens were set aside for the initial phase of the token airdrop. Following this, another 50 million tokens are scheduled for distribution in the upcoming season two.

Investors and core contributors have distinct vesting schedules. Investors are poised to receive 32.5% of the tokens total supply over a two-year vesting period. Meanwhile, core contributors will receive 23.26% of the supply over a slightly extended three-year vesting schedule.

The distribution timeline outlines the meticulous process through 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.

Also Read: Figure Tech Secures $60M Funding To Launch Crypto & Stock Trading Platform

Recent data from DefiLlama reveals an impressive surge in the total value locked (TVL) within the Ether.Fi ecosystem. The TVL has surged by an astounding 117% over the past 30 days, with total deposits nearing the $3 billion mark. This surge underscores the growing prominence of Ether.Fi within the decentralized finance (DeFi) landscape.

Ether.Fi plays a pivotal role in facilitating restaking, offering stakers 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.

Also Read: Solana Price To Rally 70% As SOL Defies Sell Signal, Analyst Predicts

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Binance and Other Exchanges List ETHFI Token, Price Peaks at $5.32 ATH - CoinGape

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