- Ether.fi reports major TVL and revenue growth, enhancing DeFi footprint.
- TVL reached $11.51 billion, a 78% increase.
- Fee revenue surged to $77 million, up 85%.
Ether.fi, a prominent Ethereum-based liquid staking protocol, reported a significant Q3 growth with its total value locked reaching an impressive $11.51 billion, as reported on Twitter.
This substantial increase reflects Ethereum’s growing staking interest, impacting related assets like ETH and potentially influencing broader DeFi market dynamics.
Ether.fi’s $11.51 Billion TVL Spurs DeFi Presence
Ether.fi revealed its third-quarter financial performance data, highlighting substantial growth in its total value locked and earnings metrics. According to the public post on Twitter, the data shows an 85% increase in fee revenue, contributing to its reinforced position in the Ethereum-based liquid staking sector. With active user numbers nearing 30,000, the protocol’s growing community reflects broader acceptance and utilization within the decentralized finance landscape.
The increase represents a significant upswing, with Ether.fi’s TVL exhibiting a 78% increase quarter-over-quarter. The company’s revenue figures have seen similar growth, with fee revenue achieving $77 million—an 85% quarterly increase.
“Our total value locked (TVL) reached $11.51 billion, a 78% increase quarter-over-quarter; third-quarter fee revenue reached $77 million, an 85% increase quarter-over-quarter; and third-quarter protocol revenue reached $16.9 million, a 78% increase quarter-over-quarter. Monthly active users have approached 30,000.” — Mike Silagadze, CEO, Ether.fi
Ethereum’s Price Trends Amid Ether.fi’s Surge
Did you know? Ether.fi’s Q3 growth pace mirrors previously observed surges in Lido’s performance following major Ethereum upgrades, demonstrating consistent enhancement within the DeFi sector.
Ethereum’s price stands at $3,862.57 with a market cap of $466.20 billion and market dominance of 12.62%, as reported by CoinMarketCap. The 24-hour trading volume is noted at $27.65 billion, reflecting a 25.13% decrease. Recent prices indicate a 0.34% rise over 24 hours, but declines are apparent over the last 30 and 60 days, marking 12.51% and 11.65% drops respectively. Circulating supply remains over 120.69 million Ethereum coins.
The Coincu research team highlights that Ether.fi’s robust growth is indicative of the wider DeFi sector’s appeal, particularly as Ethereum’s network consistently draws active participation post-upgrade periods. Strategic incentives such as the buyback program potentially enhance both token value and user engagement, preserving overall protocol vitality.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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