The DeFi protocol, which generates yield from ether derivative funding rates, is set to airdrop 750 million ENA tokens, 5% of the total supply, on April 2.

The tokenized U.S. Treasury market is poised to reach $1 billion "very soon" given the growth of BlackRock's BUIDL, an analyst noted.

The allocation marks to first example of a crypto protocol leveraging BlackRock's tokenized fund for its own offering.

The performance of EtherFi's token could lift valuations of other restaking platforms ahead of their airdrops, one analyst noted.

"This is the latest progression of our digital assets strategy," said Robert Mitchnick, BlackRock’s Head of Digital Assets.

The rally could be a sign of traders rotating some of their capital to tokens that haven't moved yet.

The upgrade would reward UNI token holders who staked and delegated their tokens, according to the proposal.

StarkWare, the developer behind the Ethereum layer-2 blockchain Starknet, had come under heavy criticism for the unlocking schedule for its new STRK tokens.

BNB holders transferred over $400 million worth of BNB tokens in 24 hours to benefit from cross-chain gaming project Portal's upcoming airdrop, Arkham Intelligence noted.

The broader altcoin market also showed signs of rebounding from oversold levels, one analyst noted.

Outflows from Grayscale's GBTC now total $5 billion, but appear to be subsiding, CoinShares head of research James Butterfill noted.

U.S. Treasuries are a gateway for tokenization efforts, and has grown to a $850 million market from $100 million over the past year, rwa.xyz data shows.