Last month, Justin Sun, the founder of TRON, invested a huge amount of money in the LRT "liquidity re-staking token" track. He pledged up to 58,000 stETH to Puffer Finance, with a total value of approximately $141 million, becoming the points champion of the protocol. In addition, he also deposited 104,001 stETH to EigenLayer, worth approximately $253 million.

Subsequently, after Sun launched the new coin mining project ether.fi (LRT track) on Binance, he pledged 120,000 ETH to the protocol on March 13, with a value of approximately US$480 million.


In just three days, he made $17.25 million

On March 16, ether.fi released its airdrop query website. According to the website information, Sun's address is eligible for an airdrop of up to 3.45 million ETHFI. Currently, the price of ETHFI on the over-the-counter market Whales Market is about $5 per coin. Based on this calculation, the airdrop value received by Sun in these three days is as high as $17.25 million.

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Sun Ge’s address received 3.45 million ETHFI in three days｜Source: Ember

In the initial token airdrop, ether.fi distributed 60 million tokens, of which Sun received 3.45 million, which caused dissatisfaction among the ether.fi community and early supporters. In response to this, Mike Silagadze, the founder of Ether.Fi, responded to the concerns of community members about Sun's airdrop on the Discord platform. He said that in order to express gratitude to community members, Ether.Fi will conduct more token airdrops.

At the same time, he also jumped out to defend Sun Ge, saying that there was nothing to question about Sun Ge's operation. He said:

We emphasize that even if users with large deposits join, Ether.Fi will not change the established rules or be unfair to them. We appreciate Justin’s support and will strictly abide by the rules we set.

According to data from DeFi Llama, with the support of the EigenLayer re-collateralization protocol, Ether.Fi's total locked value is approximately US$2.9 billion, which is more than twice that of other competing projects in the track.

Meme coin craze, Sun Ge revealed: I don’t want to work hard anymore…

On the other hand, after observing that Solana Ecosystem Meme Coin $BOME has skyrocketed continuously in just three days, Sun Ge shared his views on the X platform. He showed a comparison chart of "value coins" and "meme coins". Compared with "value coins", various efforts such as development, project cooperation, and regulatory avoidance are required to make the price rise slightly. However, for "meme coins", only "pulling the price" is needed.

Although it is not certain whether Sun Ge has caught the Solana ecosystem meme coin surge this time, he admitted that he saw this wave:

I'm really broken... I don't want to work hard anymore

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One month after completing Launchpool and listing on Binance, the price of Ether.fi (ETHFI) has returned to its first-day lows. This has left many ETHFI holders with losses, but there are many reasons for the price to recover, at least in the short term.

Here is BeInCrypto’s latest review of ETHFI.

Basically, ETHFI belongs to the re-mortgage trend, which is a new trend with few representative projects, and there is not much ETHFI price data on the exchange, so long-term expectations lack data verification. In addition to investors who accept high risks, if investors consider the stop-loss price range, the ETHFI price line gives suggestions on the chart.

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Technical analysis of ETHFI price on the daily frame.

  • In the price range below 3 Mg, the current price is 60% lower than the April peak, creating a good buying opportunity. When the price approached this support level, the downward momentum stopped. At the same time, the recent trading volume in the 3 Mg area has remained stable and slightly increased to around 150 million Mg per day. These signs indicate that the selling pressure has weakened.

  • In addition, the recent projects listed on Binance Launchpool will have a market value of around 450 million ETH after being listed for a period of time, which is also the current capitalization of ETHFI. At present, investors seem to be willing to allocate enough funds only to Launchpool projects.

  • Therefore, the restake wave, especially Ether.fi, needs more news as an intrinsic impetus for recovery. The rebound may hit the 5 Mg resistance area.


Technically, if ETHFI breaks through the 3MG support level against the backdrop of an overall decline, then ETHFI is likely to fall toward the 1MG area.

Reasons to expect Ether.fi (ETHFI) to recover

The following records show that Ether.fi has received special attention from investors compared to other Restake-related projects.

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Top 10 traffic auntie pledgers. Source: Dune/Hilldoby.

Data from Dune/@hildobby shows that Ether.fi has outperformed other companies in terms of stakers over the past month, indicating that Stakers have high expectations for the profitability of the project. The chart shows two extremes, with Ether.fi leading the way, adding nearly 400,000 stakers over the past month.

Another reason to note is that Binance has recently launched a number of projects related to the Stake space on Launchpool. Initially, it was Ether.fi (ETHFI), then Omni Network (Omni), and then Renzo (REZ), all of which are Stake-related projects. This support from Binance has attracted the attention of investors and helped drive the capital flow needed for this narrative.

Many predictions believe that after Ether.fi (ETHFI), Renzo (REZ), Binance Launchpool will launch other projects such as Puffer Finance, Kelp DAO, and finally EigenLayer, which will be the "final boss" of the current heavy staking wave.



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