ETHFI vs WSTETH
Ether.fi and Wrapped Lido Staked ETH scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
ETHFI scores 162 of 250 and ranks 12th of 251. WSTETH scores 185 and ranks 3rd. WSTETH leads by 23 points, which is a real gap, though small enough that one variable moving would close much of it. ETHFI takes 4 of the 25 variables, WSTETH takes 16, and 5 are level.
The framework rates ETHFI HOLD and WSTETH HOLD CORE. Two tokens close enough to compare do not have to land in the same band, and where they do not, the divergence table below is where the split comes from.
4 variables separate them by 3 points or more. ETHFI is clear on Buyback and Burn (9 against 5). WSTETH is clear on Vesting Schedule (10 against 5), Supply Inflation (8 against 5) and Circulating / FDV Ratio (10 against 7).
WSTETH is valued at $11.76B against $680.1M for ETHFI, a 17.3x difference. The larger of the two also scores higher, so the market and the framework agree on the ordering here.
ETHFI trades 91.7% below its all-time high and WSTETH 56% below its own. Recovering the high needs 12x from ETHFI and 2.3x from WSTETH, which is the same statement read as the return each one has to produce.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 7 | 9 | WSTETH +2 | |
| Revenue Trend | 7 | 8 | WSTETH +1 | |
| P/S Multiple | 8 | 7 | ETHFI +1 | |
| Real Staking Yield | 7 | 9 | WSTETH +2 |
Supply
| Supply Inflation | 5 | 8 | WSTETH +3 | |
| Vesting Schedule | 5 | 10 | WSTETH +5 | |
| Circulating / FDV Ratio | 7 | 10 | WSTETH +3 | |
| Buyback and Burn | 9 | 5 | ETHFI +4 |
Ownership
| Smart Money Flows | 7 | 9 | WSTETH +2 | |
| Insider Selling | 7 | 8 | WSTETH +1 | |
| Holder Concentration | 5 | 5 | level |
Traction
| TVL Trend | 8 | 7 | ETHFI +1 | |
| Active Users | 6 | 8 | WSTETH +2 | |
| Developer Activity | 6 | 7 | WSTETH +1 | |
| Network Growth | 7 | 7 | level |
Position
| Market Share | 8 | 8 | level | |
| Competitive Moat | 6 | 8 | WSTETH +2 | |
| Institutional Adoption | 6 | 7 | WSTETH +1 | |
| Exchange Depth | 5 | 6 | WSTETH +1 | |
| Social Mindshare | 5 | 7 | WSTETH +2 |
Risk
| Regulatory Safety | 6 | 6 | level | |
| Catalyst Calendar | 7 | 6 | ETHFI +1 | |
| BTC Alpha Potential | 4 | 5 | WSTETH +1 | |
| Team Execution | 7 | 7 | level | |
| Treasury Runway | 7 | 8 | WSTETH +1 |
Bars read outward from the centre: ETHFI to the left, WSTETH to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| ETHFI | WSTETH | |
|---|---|---|
| Price | $0.7042 | $3,193 |
| Market cap | $680.1M | $11.76B |
| Circulating | 96.5% | 100% |
| Dilution to full supply | 1.04x | 1x |
| Off all-time high | -91.7% | -56% |
| To recover the high | 12x | 2.3x |
| Total value locked | $7.80B | $26.00B |
| Network | Ethereum | Ethereum |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
ETHFI · HOLD
$50M buyback active (99% DAO approval), ETH staking ETF narrative, EtherFi Cash card
Token release to 2027, ETH price dependency, Lido competition (#1 LST)
WSTETH · HOLD CORE
WstETH becoming default collateral across all major lending protocols; MakerDAO, Aave, Spark all natively integrated
Lido centralization risk (about 24% of staked ETH, down from a 32% peak in 2023); Ethereum validator concentration concerns; potential regulatory classification as security
Common questions
- Is ETHFI or WSTETH the better investment?
- On this framework WSTETH scores higher: 185 against 162 of 250, and it is rated HOLD CORE against HOLD. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and ETHFI still wins 4 of the 25 individual variables against WSTETH.
- What is the biggest difference between ETHFI and WSTETH?
- Vesting Schedule. ETHFI scores 5 of 10 there and WSTETH scores 10, a gap of 5 points on a single variable.
- Which is bigger, ETHFI or WSTETH?
- ETHFI is valued at $680.1M and WSTETH at $11.76B on the latest market snapshot.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.