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#ETH breaks $4,000. Is altseason coming?#Ethereum’s price is stabilizing near $4,000, reaching $3,987.46 and the market capitalization is over $4789 billion. Meanwhile, IntoTheBlock published an analysis on TradingView, revealing that the number of short-term ETH holders is increasing.
This often happens during bull market periods, when new users join the network and actively participate. Conversely, during bear market periods, the number of short-term ETH holders typically dwindles, leaving only long-term holders.
Screenshot 2024 03 12 at 2.07.35%E2%80%AFPM
Source: TradingView
The number of people trading Ethereum has increased significantly recently, approaching the peak of the previous bull cycle (as shown by the light red arrow). The last time this number peaked, Ethereum experienced a significant price increase, taking it to an all-time high. If history repeats itself, this could signal a new bull cycle for ETH.
With these optimistic data, it is important to look at Ethereum’s metrics to assess the sustainability of the uptrend. etherFi is a decentralized liquid staking platform, enabling users to stake ETH to support node operators and receive rewards.
👉What is etherFi?
These NFTs possess the distinctive characteristics of each validator and allow for the storage of metadata. Thanks to this metadata, developers can build a more advanced staking infrastructure in the future
👉How etherFi Works
The etherFi protocol consists of a service layer, which can serve as a platform for building other services. By providing a platform for developers to build on, etherFi aims to promote innovation within the staking eco_.
Moreover, stakers and node operators can access _ious services built on the staking infrastructure. As new services emerge, participants in the etherFi protocol stand to benefit from the growth and expansion of the eco_.
The etherFi project operates on the principles of decentralization and autonomy. They establish a network of reliable nodes without relying on intermediary organizations, improving _ security and encouraging decentralization.
The etherFi protocol provides a service layer, creating conditions for the development of new services. This encourages innovation in the staking field and promotes the development of new useful applications.
Users of etherFi can access _ious services built on the staking platform. With the emergence of new services, etherFi users will benefit from the development and expansion of the eco_.
👉Highlights of etherFi
🤳Native Restaking:
Allows users to receive better rewards, as their ETH earns income from staking and additional income from restaking through Eigenlayer.
🤳Decentralization:
ether.fi implements Operation Solo Staker, enhancing Ethereum’s decentralization by deploying nodes in geographically diverse locations.
🤳Security and Risk Mitigation:
etherFi is the only protocol where stakers control the keys, minimizing risks associated with third-party node operators and protocols.
🤳Robust Development Eco_:
eETH is designed for use in DeFi. etherFi collaborates with _ious DeFi protocols to enhance the utility of eETH.
👉Roadmap:-
✅Achieved:
August 2023: Integration phase of Solo Node Operator – Phase 1
Integration phase of DVT – Phase 1
October 2023: Open source smart contracts
November 2023: Launch of eETH
🕳️In Progress:
April 2024: DVT integration phase 2, DAO Governance & TGE