Tonight, 3 things.
ETH is at 2,715.75, up +1.16% over 24h. It edged up a little over the weekend, but over the past 7 days it’s still just grinding back and forth within this range—2,690 to 2,724—with no clear breakout and no real confirmation of a breakout. It’s starting to feel a bit sleepy.
On Friday, the SEC provided guidance saying that staking ETH does not constitute a security. But in the staking entry queue, there are now 1.68 million ETH piled up—worth about $4.5 billion—waiting to get in. Withdrawals are only 154,000 ETH. In 11, out 1. For new stakers, they probably have to wait about a month before rewards start counting.
As for the spot ETH ETF: this week, from September 21 to 25, there was net inflow of $690 million. Money is coming in, but the price is down 9% since September.
There’s a gap between fundamentals and price. Not many people are discussing it.
ETH is at 2,715.75, up +1.16% over 24h. It edged up a little over the weekend, but over the past 7 days it’s still just grinding back and forth within this range—2,690 to 2,724—with no clear breakout and no real confirmation of a breakout. It’s starting to feel a bit sleepy.
On Friday, the SEC provided guidance saying that staking ETH does not constitute a security. But in the staking entry queue, there are now 1.68 million ETH piled up—worth about $4.5 billion—waiting to get in. Withdrawals are only 154,000 ETH. In 11, out 1. For new stakers, they probably have to wait about a month before rewards start counting.
As for the spot ETH ETF: this week, from September 21 to 25, there was net inflow of $690 million. Money is coming in, but the price is down 9% since September.
There’s a gap between fundamentals and price. Not many people are discussing it.
