Binance-Backed Project Hits ATH, Analyst Named Other Coin that Could Rise!

Despite the general correction in the market, Ether.fi (ETFI) launched through Binance’s Launchpool reached an all-time high. The native token of the liquid re-staking protocol, ETFI, reached $8.53, hitting an all-time high recently, fueled by high demand. According to CoinGecko data, ETFI, the governance token of the protocol, climbed to $8.53 with a 44% increase from levels of $5.91 over the last 24 hours. Meanwhile, Bitcoin, Ethereum, and major altcoins experienced a general decline. ETFI erased the decline seen following the airdrop on March 18th with this rise. DeFi expert analyst Ignas, speaking to CoinDesk, noted that the rise in ETFI could host the rise of other re-staking tokens such as Swell, Renzo, Puffer, Kelp, and EigenLayer, making them more efficient as ETHFI rises. According to CoinGecko data, other re-staking tokens include AltLayer (ALT), Pendle (PENDLE), and TENET.