Ether.fi Card Spending Tops $100 Million as ETHFI Buyback Vote Nears

Decentralized finance protocol Ether.fi is extending its business into everyday payments by linking on-chain staking and lending with card spending. The strategy matters because revenue from card fees and other services could be channeled into support for ETHFI, giving the token a more direct connection to the protocol’s commercial growth and testing whether rising product usage can translate into value for holders.

Monthly transaction volume on Ether.fi’s cash card has surpassed $100 million, while the number of active addresses has doubled. ETHFI nevertheless fell 21%, highlighting a divergence between adoption and token performance. The community is now approaching the close of voting on a buyback proposal with an annualized value of $16 million, aimed at using protocol revenue to create recurring demand for the token and bolster its market price.