Following a significant downturn in March, liquid staking derivatives (LSD) protocols experienced another withdrawal of 380,000 ether, valued at roughly $1.17 billion, from leading LSD platforms since April 1, 2024. Ethereum Exodus: $1.17 Billion Pulled From LSD Platforms In the initial two weeks of April, a notable reduction of 380,000 ether was observed in the […] Source CryptoX Portal
As ethereum fluctuates within a wide trading range from $2,991 to $3,266 on April 15, 2024, key technical indicators and chart patterns suggest a nuanced but potential shift in market sentiment. Despite a bearish trend over the past week, recent oscillator and moving average signals point towards a possible bullish reversal. Ethereum The relative strength […] Source CryptoX Portal
Ethereum price dived over 10% before the bulls appeared near $2,550. ETH is back above $3,000 and now faces many hurdles near $3,200. Ethereum is attempting a recovery wave from the $2,550 support zone. The price is trading below $3,250 and the 100-hourly Simple Moving Average. There is a rising channel forming with resistance at $3,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it stays above the $3,000 support zone. Ethereum Price Eyes Recovery Wave Ethereum price started a major…
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Ethereum price is consolidating above the $3,450 support zone. ETH must clear $3,560 and $3,620 to start a fresh increase in the near term. Ethereum is trading in a range above the $3,450 support zone. The price is trading above $3,500 and the 100-hourly Simple Moving Average. There is a new connecting bearish trend line forming with resistance at $3,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it stays above the $3,420 support zone. Ethereum Price Eyes Upside Break Ethereum…
Token unlocks happen because the supply of many cryptocurrencies are locked up in vesting to prevent insiders – early investors, team members – from dumping tokens en masse. Prices historically decline around such events, as the supply increase outpaces investor demand for the asset, according to research by crypto analytics firm The Tie. Source
While I can’t speak to what any regulator will approve, I think it’s important to look at other regions and how regulatory approvals of ETFs transpired. For example, the first spot bitcoin ETF was approved in Canada in early 2021. A few months later, ether ETFs gained approval and began trading. Now, there are over 11 ETFs, including a mixed cryptocurrency ETF and an ether-staking ETF. If the same pattern follows, an ether ETF approval can be near. Source
The bank reiterated its view that approval of these products is unlikely next month, a position first expressed in January. The SEC must make final decisions on some of the ETF applications by May 23. The SEC approved spot bitcoin (BTC) ETFs in January, stirring speculation in some quarters that versions for ether, the token of the Ethereum blockchain, may follow suit. Source
In recent months, the Ethereum staking landscape has witnessed significant transformations, prompting a shift in investor preferences and reshaping the sector’s dynamics. According to on-chain data researcher and strategist at 21Shares, Tom Wan, key metrics indicate a notable change in the approach towards Ethereum staking, with restaking gaining prominence as a preferred method. Ethereum Restaking Landscape Wan’s observations, shared on the social media platform X (formerly Twitter), highlight a steady increase in ETH staking deposits from restaking, rising from 10% to 60% since 2024. Restaking can be accomplished in two…
“Because you see the transaction fees for Bitcoin and Ethereum, no one would ever use that database to build anything on, right? My analogy for non-crypto people is, would you want to fill your car at $50, you know, week after week, and then one week at $600? And that’s effectively what high gas fees are on Ethereum,” he said. Source CryptoX Portal