Bittime – EtherFi, the leading protocol in Ethereum restaking, recently revealed its latest innovation: a credit card linked to users' staked ETH holdings. EtherFi Cash, announced on May 23, features a Visa credit card integrated with a mobile wallet, offering users easy crypto-to-fiat transactions.
All-Ether EtherFi Cash Credit Card
The EtherFi Cash Card allows payments by converting a portion of a user's ETH holdings into USDC or by borrowing USDC using their own EtherFi portfolio. Additionally, users can pay interest with rewards earned from their eETH holdings. The new financial tool aims to reduce reliance on traditional financial systems, which EtherFi considers a significant censorship risk and usability challenge.
Check Today's Crypto Market:
EtherFi Cash is EtherFi's third product
EtherFi's new credit card is the third product in their integrated financial suite, following ether.fi Stake and ether.fi Liquid. Together, these products allow users to store, invest, and spend their crypto without needing to convert it into fiat currency. The EtherFi Cash Card can be used globally, making it a versatile tool for crypto enthusiasts.
EtherFi's Rapid Growth
This announcement comes as EtherFi strengthens its position as a premiere DeFi protocol. Currently ranked seventh by total value locked (TVL), EtherFi has a TVL of $5.66 billion, reflecting nearly 50% growth over the last month. This surge was partly due to an increase in the price of Ethereum of more than 27%, driven by positive sentiment around Ether spot ETFs.
Also Read How To Buy Crypto:
EtherFi Pimpin Liquid Restaking Token(LRT)?
EtherFi has been at the forefront of the Liquid Restaking Token (LRT) movement , simplifying the native restaking process via EigenLayer and allowing users to retain liquidity while securing the Ethereum blockchain.
This has significantly lowered the technical barriers to restaking, contributing to EtherFi's rapid adoption and growth.
Achievement of Liquid Restaking Token (LRT) Market Share
According to DeFi Llama, LRT protocols collectively have a TVL of $14 billion. Renzo followed EtherFi with $3.93 billion, and Puffer Finance ranked third with $1.79 billion.
Vision for Mainstream Adoption Mike Silagadze ,
The founder of EtherFi, emphasized that the launch of EtherFi Cash is a critical step towards removing technical barriers in on-chain finance. “The protocol will increasingly offer an integrated suite of products that simplifies the complexities of DeFi, including chains, derivatives and strategies,” said Silagadze. “These products will evolve to resemble consumer products, focused on providing value to users and facilitating mainstream adoption.”
EtherFi Hope for EtherFi Cash
By introducing EtherFi Cash, EtherFi aims to make decentralized finance more accessible and user-friendly, paving the way for wider adoption and integration into everyday financial activities.
Check Crypto Prices Today:
How to Buy EtherFi (ETHFI) from Bittime
You can buy and sell EtherFi (ETHFI) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
EtherFi (ETHFI) is available on Bittime with the market pair ETHFI/IDR . To be able to buy ETHFI IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that 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.
Monitor the price chart movements of EtherFi (ETHFI) , Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
What is Lido Staked ETH (stETH)? Changing the Way of Staking ETH
Ether.Fi: Liquid Staking Pioneer Launches ETHERFI Token, Entering Binance Next Week?
Ether.fi Launches on Base, Easier Non-Custodial Liquidity Staking
What is Crypto AI and Top 8 AI Coins 2024
Zeta Markets Launches Zeta X: The First Layer 2 DeFi Solution on Top of Solana
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.