Ether.fi Transfer 1.6 Million ETHFI to Binance

Bittime - Ether.fi has transferred 1.6 million ETHFI to Binance since April 2024. The move sparked speculation about liquidity strategies and the impact on token prices. Learn more about this move and its impact on the market. Check it out in the following article!

Ether.fi Transfer 1,6 Million ETHFI to Binance

Since the Ether.fi project distributed 10 million ETHFI tokens on April 1, 2024, these addresses have regularly sent tokens to Binance with 8.66 million tokens sent to the exchange in the last two months. 

At an average price of $1.64 per token on Binance, all these transfers generated a total of around US$14.24 million.

What Triggered This Move?

The crypto community is speculating about this huge transfer. Some observers suspect that Ether.fi is taking advantage of market momentum or implementing a gradual token sale strategy to maintain price stability. 

This action may indicate efforts on the part of the project to maintain liquidity and token price in the market, considering that the average recharge price remains around US$1.64.

Read Also: GemZ Daily Combo 7 September: Hurry and Claim!

Impact on EFHFI Price

So far, ETHFI price has stabilized around the US$1.64 level in line with Binance's average transfer price. However, with more tokens being moved to exchanges.

There is a possibility of selling pressure that may affect the price in the near future. Investors should monitor further developments from Ether.fi, especially if large transfers continue to occur.

The Future for Ether.fi 

As one of the emerging Ethereum-based projects, the Ether.fi token plays an important role in its ecosystem, and many are looking forward to Ether.fi's next developments.

Conclusion

The transfer of 1.6 million ETHFI to Binance by Ether.fi shows the project's commitment to managing liquidity and token distribution. 

While the crypto market often experiences large fluctuations, strategic moves like these can help maintain stability and trust among investors. 

For those following Ether.fi's development, this could be an important moment in the project's journey in the crypto world.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.