Arthur Hayes, the big name behind BitMEX, is all cheers for ether.fi. This DeFi platform just hit a huge goal. It’s the first liquid restaking token (LRT) to lock in over $1 billion. That’s a big deal in the crypto world.
A Quick Rise of Ether.fi
Starting the year with $103 million, ether.fi’s jump to $1 billion has everyone talking. Hayes couldn’t hide his excitement. He shared a snapshot on social media X, showing off this big achievement. The data came from DeFiLlama, marking February 10, 2024, as the day ether.fi made history.
Crypto enthusiasts are keen to dig into what drove ether.fi’s rapid growth
Arthur Hayes
Jeodezi, a crypto expert, shed some light on the matter. Since starting, ether.fi got over 400,000 ETH deposits. That’s huge! And since mid-January, it’s been pulling in more than 10,000 ETH every day.
Ether.fi stands out because it lets users restake directly on Eigenlayer. Plus, it’s teamwork with pendle.fi means users can earn double loyalty points. This makes ether.fi a leader in liquid staking and restaking.
Also read: EigenLayer’s TVL Skyrockets to $6 Billion
As of now, ether.fi’s price is up by 2.81% at $2,348.35. Its trading volume has also shot up by 73.12% to $24.3K. The price has seen some ups and downs, hitting a high of $2,578.72 and a low of $2,284.21 in 24 hours.
Ether.fi’s success is a big nod to how DeFi is changing finance. It’s all about new solutions, rewards for users, and strong partnerships. This platform is on a roll, and it’s pushing the boundaries of what’s possible in decentralized finance.
