Summary
- The Ether.fi Foundation said it is continuing its ETHFI buyback program.
- The foundation said it is using part of protocol revenue to buy ETHFI, reducing circulating supply and increasing the token's value.
- It said the cumulative ETHFI purchase amount has exceeded approximately $7.1 million.
The Ether.fi Foundation said it continues its buyback (repurchase) program for its ETHFI token.
On the 27th (local time), via the foundation's official X (formerly Twitter), it said, "This week, 51 ETH (about $205,000) of the (Ether.fi) protocol's revenue was used to purchase a total of 127,000 ETHFI." The foundation said it continues the strategy of using part of its revenue to buy tokens on the market to reduce circulating supply and increase token value.
It added, "The cumulative ETHFI purchase amount has now exceeded approximately $7.1 million."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
![[Exclusive] “Airdrops also taxable”... Authorities to adopt a ‘comprehensive approach’ to virtual assets](https://media.bloomingbit.io/PROD/news/4bde9dab-09bd-4214-a61e-f6dbf5aacdfb.webp?w=250)
![[Market] Bitcoin slips below $75,000…Ethereum also falls under $2,200](https://media.bloomingbit.io/PROD/news/eaf0aaad-fee0-4635-9b67-5b598bf948cd.webp?w=250)