Why did ETHFI surge from 0.9 to 1.3 a few days ago?
Core reason: Prague Upgrade!
This Ethereum upgrade raised the staking threshold from 32 ETH to 2048 ETH. What does this mean? Originally, a bunch of small holders could come to stake, but now the threshold has been raised, and the game has turned into a 'game for the big players.' This is definitely a positive for decentralized staking protocols (like ETHFI).
Now the question arises: why didn't LDO and ENA, which are behind ETH, surge explosively?
The answer is simple: market capitalization!
LDO and ENA are too large; it takes too much effort for the main players to push them up. In contrast, ETHFI has a small market cap and is lightweight, so when the main players pull it up, it skyrockets. It’s the first choice for short-term speculative trading, and the big players don’t get to take off first.
This is not a question of whose fundamentals are stronger; it’s about the market choosing to lift the 'projectiles' that are easier to boost first.
What’s next? We’ll see who picks up the baton to tell the story.
