Attention: Those Three Altcoin Teams Are Selling! Here are the Coins Sold

Dikkat: O Üç Altcoin Ekibi, Satış Yapıyor! İşte Satılan Coinler
Dikkat: O Üç Altcoin Ekibi, Satış Yapıyor! İşte Satılan Coinler

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Although the cryptocurrency market has been facing a general selling pressure recently, some projects continue to focus on their long-term goals. Ether.Fi liquid restaking platform is also included in these projects. Ether.Fi Foundation announced that it has purchased 46 ETH worth from the ETHFI altcoin project, in line with an offer previously approved by the community.

ETHFI team took action

This acquisition is just the beginning. The Ether.Fi community also approved the ETHFI buyback and transfer to liquidity pool proposal. The ETHFI tokens purchased by the foundation were deposited into a weETH/ETHFI Curve pool. This amount corresponds to 5% of the protocol revenue for June. According to the proposal, the Ether.Fi Foundation will be able to purchase ETHFI up to 50% of the protocol’s revenue, although 5% of this rate is currently initiated at the initiative of the foundation. Purchases to be made from future monthly income will be put to community voting. The community also approved the proposal to implement a staking contract on the Ethereum mainnet submitted by ETHFI DAO.

Yarın, O 15 Altcoin İçin Kritik: İşte Olacakların Detayı!

This offering aims to increase utility by tying rewards to governance participation and active balances in the ecosystem. The ETHFI staking contract will also offer incentives and voting capabilities to holders of staked tokens. ETHFI price, which fell 40% in a week following panic-related sales in the general crypto market, has been trending sideways for the last few days. Up 1% in the last 24 hours, ETHFI price is currently trading at $1.91. The lowest and highest levels of the last 24 hours were recorded as $1.83 and $1.99, respectively. Additionally, the trading volume increased by 7% in the last 24 hours, indicating an increase in the level of interest from investors.

Golem Network sells Ethereum

Open source computing platform Golem Network sold 24,400 ETH ($72 million) on Binance, Coinbase, and Bitfinex in the last 3 days and currently holds 127,634 altcoin ETH ($372 million). These sales can be interpreted as a reaction to the decline in ETH price and general market fluctuations. Golem Network collected 820,000 ETH through ICO in 2016. At that time, the ETH price was only $10.2. This means 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. The platform allows users to rent idle computer power and thereby generate income. Golem Network is used in fields such as artificial intelligence, scientific research and 3D modeling.

Balina sent the popular altcoin PENDLE to Binance

A whale transferred a total of 375,000 PENDLE to Binance in two transactions 15 minutes apart on July 8. Following these transactions, it is estimated that the whale’s total PENDLE holdings decreased to 1.37 million PENDLE. The profit earned by the whale through these transactions is estimated to be 2,275 million US dollars. PENDLE is a decentralized finance (DeFi) protocol. The protocol allows users to automatically swap their tokens from one asset to another. PENDLE uses an algorithm to perform these operations and users do not need to perform manual operations.

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Attention: Those Three Altcoin Teams Are Selling! Here are the Coins Sold