Ethereum

Solana

Defi

Currently, the overall cryptocurrency industry is going through a price correction mode where top cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and many others have continuously experienced price falls. Amid this, the recently listed ETHFI also experienced a massive fall of over 37%, and two crypto whales seized this opportunity and accumulated a massive $2.19 million of tokens. Why crypto whales buying ETHFI? 
Today on March 20, 2024, an on-chain analytic firm made a post on X (previously Twitter) that these crypto whales bought the dip and added a massive 718,393 ETHFI tokens from Binance at an average price of $3.05. Following this accumulation, these crypto whales became the top 20 ETHFI token holders. However, this is the first time that any crypto whales have added ETHFI tokens following its listing. 
Additionally, this token has recently been listed on Binance, and due to the price correction and negative market sentiment, it experienced a fall of over 24% following its listing. Currently, ETHFI is trading near $3.14, and in the last 24 hours, it experienced an upside momentum of 1%. ETHFI price-performance analysis 
If we look at ETHFI’s performance since its listing, following its listing, it experienced a downside momentum of over 23%, which is the reason why traders as well as investors are making big moves into ETHFI tokens. However, despite this massive accumulation, the 24-hour volume is also down by 66%, and it currently stands near $223 million.
Besides, the ETHFI token currently, the overall cryptocurrency market is down by 2.5%, where the world’s biggest cryptocurrency <a href="https://news.todayq.com/bitcoin-might-crash-to-53000-level-if-this-happens/" rel="noopener noreferrer nofollow">Bitcoin</a>, trading near $62,600, and in the last 24 hours, it experienced a downside momentum of 2.5%. Now only Bitcoin, Ethereum (ETH), and Solana (SOL) also experienced a downside momentum of 5% and 7.5%, respectively.
Additionally, ETHFI&nbsp; is a liquid staking platform on Ethereum where you can stake your ETH and earn rewards. They have a special token called eETH which represents your stake. When you mint eETH, ETHFI takes your ETH and stakes it for you, helping you earn more rewards. With eETH, you get rewards in four ways such as Ethereum staking rewards, ETHFI Loyalty Points, restaking rewards (including EigenLayer points), and the ability to provide liquidity to Defi protocols.

ETHFI price drop 37% post-launch, whales buy the dip

Todayq News

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