ETHFI's bullish jump: a 21% increase

• The native ether.fi token, ETHFI, has risen 21% to a two-week high, outperforming other cryptocurrencies such as Ethereum and Bitcoin, thanks to a strong bullish momentum fueled by several factors.

• This increase was facilitated both by the improvement in overall sentiment on Ethereum, following the announcement of a $425 million investment in ETH by SharpLink Gaming, and by a token repurchase program by the ether.fi Foundation, which used 105 ETH (about $267,000) to purchase 206,000 ETHFI.

• Ether.fi revenue from staking, restaking and liquid deposit fees reached $2.4 million in April, part of which was earmarked for ETHFI repurchasing, thus contributing to the increase in token value and bringing the total locked value (TVL) to $6.7 billion.