ETHFI Team's Address Deposits $1.87 Million Worth of ETHFI to Binance

IconCryptoNewsTerminal Staff11 Jul, 2024

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ETHFI Team's Address Deposits $1.87 Million Worth of ETHFI to Binance

Blockchain analytics firm Lookonchain recently reported that an address connected with Ethereum liquidity staking platform Etherfi (ETHFI) deposited 880k ETHFI ($1.87 million) to Binance. This transaction occurred approximately 10 minutes before Lookonchain's report. It's worth noting that the same address had previously received 10 million ETHFI ($65.2 million) from an ETHFI team address three months ago. This latest deposit suggests that the ETHFI team may be preparing for a significant event or announcement. This news comes at a time of growing interest in the Ethereum staking space. ETHFI is one of several projects looking to provide users with a way to earn rewards for staking their ETH. With the highly anticipated Ethereum Shanghai upgrade approaching, which will enable staked ETH withdrawals, there is speculation that the ETHFI team may be positioning itself to capture a larger share of the staking market. It's important to remember that this is just speculation at this point, and the ETHFI team has not yet made any official announcements. However, this latest deposit is certainly a noteworthy development and is likely to be closely watched by the Ethereum community.

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