Ether.Fi's ETHFI Jumps 50% to Record, May Boost Valuations for Liquid Restaking Token Airdrops: Analyst
Summary
Ether.fi's governance token (ETHFI) reached a record high, surging 50% in 24 hours to $7.2, outperforming ether (ETH), bitcoin (BTC), and the CoinDesk 20 Index (CD20). This rally follows a price slump after its March 18 airdrop. Ether.Fi, a liquid restaking protocol, has become a leader in its sector within decentralized finance (DeFi), reusing Ethereum's proof-of-stake blockchain to secure other networks through the original restaking platform, EigenLayer. Its total value locked (TVL) has grown from $100 million to over $3 billion since the start of the year. The strong performance of ETHFI could boost valuations of other liquid restaking tokens (LRT) airdropped in the future, according to DeFi analyst Ignas.
