The ETHFI Claiming Season 2 has commenced, offering traders double the claim amount compared to Season 1.
As a result, traders are advised to be vigilant for a potential drop in the price of ETHFI.
In the previous season, 11.1 million $ETHFI, valued at approximately $44.5 million, were claimed. This new season sees an impressive increase, with 22.8 million $ETHFI, worth around $53.8 million, up for grabs.
Significant ETHFI Influx Of Deposits To Centralized Exchange Detected
Despite the increased rewards, data from iCrypto has not yet shown a significant influx of deposits to centralized exchanges (CEX). However, it is worth noting that during the previous season, the price of ETHFI dropped by 20% in a single day. This drop was largely due to major claimers, including notable figures like @justinsuntron, depositing their tokens onto Binance.
$ETHFI May Drop 20% Today? Traders!! PAY ATTENTION!
The ETHFI Claiming Season 2 has begun, with the claim amount doubling compared to Season 1.
To summarize, the previous season had 11.1M $ETHFI ~ $44.5M claimed. This new Claiming Season has a value of 22.8M $ETHFI ~… https://t.co/AwyrJ7bsz5 pic.twitter.com/jyBmoIkKKJ
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 18, 2024
The substantial increase in claimable ETHFI this season could lead to similar price volatility. Traders should monitor the market closely and be prepared for potential fluctuations as large holders may move their tokens to exchanges for trading or selling.
In summary, the start of ETHFI Claiming Season 2 brings a significant increase in available rewards, potentially impacting the market. Traders should stay alert and consider the historical price movements observed in Season 1 when planning their strategies for the current claiming season.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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