Here’s why Ethfi’s price has become parabolic

Ether.fi Token continued a strong rally, reached its highest level from February, even as Bitcoin and other Altcains withdraw.

Ether.fi (Ethfi) He jumped to $ 1.60, more than 300% of her April low level, giving him a market hat of over $ 420 million.

Ethfi, a liquid and the restart network on Etherem (El), she jumped as the total value locked to $ 6.8 billion. This increase made the fourth largest player in decentralized finances after Aane, LDO and Eigenlayer. The property increased by 52% in the last 30 days.

This growth led to a higher fee collected by the network. He earned $ 3.15 million last week, more than $ 2.65 million a week earlier. It has already earned 2.35 million dollars so far.

Ether.fi uses these fees to buy its tokens, initiative intended to support the value of tokens. In the KS post on Thursday, developers have announced plans for purchase of Ethfi tokens worth 103 ETE, using income last week.

In a recent update, the team stated that the redemption will appear weekly using retreat fees and the month using all other protocol revenues. All purchased tokens will be distributed to Ethfi’s steady holdings.

Ethfi price analysis

The daily shows that Ethfi price jumped to $ 1.6080, the highest level of February this year. This jump happened after forming a decline in patterns of wedge, popular sound Bullog reversal.

It also moved over an important point of resistance to $ 1,135, his lowest point 5. August last year. He also transferred above the 50-day and 25-day exponential moving average.

The relative power index moved to an extreme portable point of 85. Also, the average directional index moved to 42. will probably continue because the bulls are targeting the next point in the amount of $ 3,1282, which is about 100% in December. The drop below support in $ 1.1418 cancel the Bullish Outlook.