“Ether.fi, The Market Leader, HAS 2.6 Million Eth Staged On It Platform and Has Plans to Become a Neobank.”, – WRITE: www.coindesk.com
FAST FORWARD TO MID-2025 AND TOTAL VALUE LOCKED (TVL) Has Fallen Across The Sector and the Hype that Surrounded Point Farms have withered.
Through it all, ether.fi, the Market Leader, Has Stayed Steady, Helping Users Generate Yield Through Liquid Staking Tokens (Lsts) That Can Be Staged Across The Decentralized Finance
Now, Ether.fi is Looking to Expand with Plans to Become a Neobank for Crypto Companies and Users.
Ether.fi’s DominanceEther.fi, WHICH IS BASED IN THE CAYMAN ISLANDS, BENEFITED FROM BEING ONE OF THE FIRST MOVERS IN THE LIQUID RESTING SPACE Transferred Into a Token Airdrop.
In a 10 weeod at the Start of 2024, Staked Eth Grew from 45,000 ETH to 808,000 ETH. Now, there is 2.58 Million staged ethy.fi while the next competitor, Renzo, HAS AROUND 380,000 ETH.
In Dollar Terms, Ether.fi HAS AROUND $ 5 BILLION WORTH OF TVL. This Number Has Slumped from December’s High of $ 9.4 Billion But Only Due to the Dwindling Price of Eth, As Oped to Any Significant Outflows.
Ether.fi Engages Closely with Its Users in An Effort to Keep Them Onboard.
“We Know Probably Half The TVL,” Silagadze Added. “AS IN, WE KNOW WHO ARE AND WE TALK TO THEM AND HAVE Ongoing Conversations.”
Renzo in Contrast Has Seen More More 60% ETH WITHDRAWN from the Platform Since Last July, with TVL Sliding from 1 Million Eth to 378,000 ETH, Accounting To Defillama.
From resting protocol to neobankFor Silvagadze, The Resta Product Is A Means to Onboard USERS AND CAPITAL, WHILE The Company’s Main Ambition is to Become a Neobank to Rival the Likes of Revolut.
“Staking for US Was Really Just a Way of Building TVL and Getting A User Base,” Silagadze Told Coindesk. “The Ultimate Goal Is To Create An Integrated Product Suite That Allows Users To Fully Off Ramp from Their Traditional Banking Institutions and Operate on a Crypto Nat.”
Ether.fi Rolled Out A “Cash” Visa Card on the Scroll Network in September and Silagadze Believes this Will Become The Company’s Main Revenue Driver.
Neobank has become quite the buzzword in crypto of the Late. Lending Platform Nexo Rebranded Last Year As A NEOBANK AND THERE WAS ALSO The STEALTH LAUNCH OF DAKOTA, A CRYPTO App that will Provide Banking Service to Crypto Deposites. EOS, WHICH LAUNCHED As A Much-Geralded Smart Contract Platform in 2017, Has Also Shifted Focus to Web3 Banking.
For ether.fi, the plans is to incorporate Three Products Into One Soon-to-Be Released Mobile App.
The App Will Comprise Three Integrated Products: Ether.fi Stake, WHICH IS The Stake Protocol; Ether.fi Liquid, whoh is an autoMated defi strategy manager that genetrates the bests available yield Through the Use of AI; And the Ether.fi Cash Wallet and Credit Card.
Staking FIRMS Looking to Serve the US Market Have Been Put Off by An Absense of A Clear Regulatory Framework.
But Ether.fi Heps the Crypto-Friendly Trump Administration Will Smooth the Way for It To Offer Service to US Citizens After Secure Respect Licenses.
“We Are Actual Hing to Be Turning On the Us for the Us for the Us of Staking Product and the Cash Product Relatively Soon. We Actual Just Got A Legal Opinion that We’d. Ether.fi is also Apply for Licenses to Operate in the European Union and the Cayman Islands, WHERE ITS TEAM OPERATES.
Ethereum’s Sentiment ProblemEthereum Was The Darling of the 2017 Bull Market and Subsequent ico Boom and Was The Dominant Smart Contract Chain As Defi and NFTS Animated the 2020-22 Boom.
This Cycle, However, The Ethereum Network Has Been Criticized for A Drawn-Out Roadmap as The Market Centers on MemeCoins and Faster Blockchains Like Solana.
Ether is Currently Trading AT AT AT AROUND $ 1.965, HAVING LOST 40% OF ITS VALUE OVER The PAST 12-MONTHS. Solana, Meanwhile, Is Trading At $ 131 Having LOST JUST 25% OF ITS VALUE IN THE SAME Period.
“Some of that [negative sentiment] is Clearly Engineered by Competing Ecosystems. The Solana Folks Are Out There Everi Single Day Talking to Investors and Allocators and Media and Just Spreading Bulls ** T About Ether, “Silagadze Said.
“If you actually dissect Those arguments, they’re incocherent. But Those memes are floating around, and that have had an Effect.”
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