Despite the selling pressure across the cryptocurrency market last week, some projects continue to focus on their long-term goals. One of these projects is the liquid restaking platform Ether.Fi. Ether.Fi Foundation announced that it has acquired the ETHFI altcoin project worth 46 ETH, pursuant to a community-approved proposal.

The ETHFI team took action quickly. The Foundation deposited the purchased ETHFI tokens into a weETH/ETHFI Curve pool. This amount corresponds to 5% of the protocol revenue for June. Based on community approval, the Ether.Fi Foundation has the authority to purchase ETHFI up to 50% of the protocol revenue, although it is currently starting with 5%. Purchases made in future monthly revenues will be put to a community vote. The community also approved the proposal to implement a staking contract on the Ethereum mainnet, which aims to increase rewards based on governance participation and active balances in the ecosystem.

ETHFI lost 40% of its value in the last week due to panic in the general crypto market, but has been trending sideways in recent days. It is trading at $1.91, increasing by 1% in the last 24 hours. The lowest and highest levels were recorded at $1.83 and $1.99 respectively. Additionally, trading volume increased by 7% in the last 24 hours, indicating an increase in investor interest.

Golem Network announced that it sold a total of 24,400 ETH ($72 million) on platforms like Binance, Coinbase, and Bitfinex in the past three days and currently holds 127,634 ETH ($372 million). These sales can be interpreted as a reaction to the decline in ETH price and general market fluctuations. Golem Network raised 820,000 ETH via ICO in 2016, and the ETH price at that time was only $10.2. This shows that the current value of Golem Network's funds from the ICO is over $840 million.

Golem Network is a platform designed to share and distribute computing power. Users can generate income by renting their idle computing power, and the platform is used in fields such as artificial intelligence, scientific research and 3D modelling.

A whale transferred a total of 375,000 PENDLE to Binance in two consecutive transactions on July 8. Following these transactions, it is estimated that the whale's total PENDLE assets decreased to 1.37 million PENDLE. The profit from these transactions is calculated as 2,275 million US dollars. PENDLE is a decentralized finance (DeFi) protocol that allows users to swap their assets automatically, eliminating the need for manual transactions.

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