Etherfi's $ETHFI trades at 3x the market cap of Eigenlayer's $EIGEN. Or 1.3x the FDV. Let that sink in: An ap…

0 comments · 2026-02-22T00:10:06+00:00

@kingjunaid12 ((∎, ∆) (🌿,👻) kingjunaid12 (💙,🧡))

Etherfi's $ETHFI trades at 3x the market cap of Eigenlayer's $EIGEN. Or 1.3x the FDV. Let that sink in: An app that started as a liquid restaking wrapper on Eigenlayer now trades higher than the protocol it depended on. Etherfi pivoted to a credit card with a cashback. Nothing too fancy and multiple competitors do the same thing (although most are debit cards). Eigenlayer also pivoted to EigenCloud: verifiable cloud computing with EigenDA, EigenCompute, and EigenVerify. EigenCloud is technically more impressive. And few understand what it actually does. But a simple card that solves 'how do I spend my crypto' is winning. Infra is a hard sell. User facing products find PMF faster.