EtherFi Adds $2.05M ETHFI to Binance Despite Market Downtrend
CryptoNewsTerminal Staff09 Sep, 2024
EtherFi Adds $2.05M ETHFI to Binance Despite Market Downtrend
EtherFi, a decentralized wireless network, has recently added a substantial amount of its native token, ETHFI, to Binance. According to on-chain analyst ai_9684xtpa, an EtherFi multi-sig related address deposited 1.6M ETHFI, valued at approximately $2.05 million, to the exchange on X date. This recent deposit marks a continuation of a trend, as the same address has transferred a total of 8.55M ETHFI to Binance over the past two months, amounting to roughly $14.24 million. The average price of ETHFI at the time of these deposits was $1.64, while its current price stands at $1.29. Despite the ongoing market downturn, EtherFi's actions suggest confidence in its long-term prospects. The project aims to provide affordable and accessible wireless connectivity through a decentralized network of hotspots.
