【Interactive Brokers Opens ETH Staking】
Wall Street brokerages are starting to pay “interest” on $ETH , while long positions in the futures market are quietly closing out.
On October 13, Interactive Brokers launched Ethereum staking, with services provided by Zerohash. Eligible clients can stake ETH directly in their accounts, and rewards are automatically reinvested. ETH is the first and currently the only supported coin.
News like this has often been seen as a reason for a rally, but the market hasn’t reacted that way today. On Binance at 09:10, ETH was trading at $2,503, still below the 20-day moving average of $2,618. The long-to-short account ratio fell from 3.28 24 hours ago to 2.70, while open interest actually rose by 3.17%.
My take: More ways to stake are positive for the medium to long term, but in the short term, we’ll have to watch tonight’s US CPI release at 20:30. With fewer long accounts but rising open interest, it looks more like some money is adding short positions. For now, the news alone isn’t enough to support a rebound.
If ETH reclaims $2,618 on strong volume and holds above it, that would suggest the positive news is being priced in, and my bearish view would be wrong. On the other hand, if it breaks below the seven-day low of $2,406, this positive news will be drowned out by the market.
Will staking through traditional brokerages bring more people into ETH?
Source: The Block
$ETH #以太坊 #CPI
#Binance Square
⚠️ The above is a summary of information and personal opinions, and does not constitute investment advice. DYOR.
Wall Street brokerages are starting to pay “interest” on $ETH , while long positions in the futures market are quietly closing out.
On October 13, Interactive Brokers launched Ethereum staking, with services provided by Zerohash. Eligible clients can stake ETH directly in their accounts, and rewards are automatically reinvested. ETH is the first and currently the only supported coin.
News like this has often been seen as a reason for a rally, but the market hasn’t reacted that way today. On Binance at 09:10, ETH was trading at $2,503, still below the 20-day moving average of $2,618. The long-to-short account ratio fell from 3.28 24 hours ago to 2.70, while open interest actually rose by 3.17%.
My take: More ways to stake are positive for the medium to long term, but in the short term, we’ll have to watch tonight’s US CPI release at 20:30. With fewer long accounts but rising open interest, it looks more like some money is adding short positions. For now, the news alone isn’t enough to support a rebound.
If ETH reclaims $2,618 on strong volume and holds above it, that would suggest the positive news is being priced in, and my bearish view would be wrong. On the other hand, if it breaks below the seven-day low of $2,406, this positive news will be drowned out by the market.
Will staking through traditional brokerages bring more people into ETH?
Source: The Block
$ETH #以太坊 #CPI
#Binance Square
⚠️ The above is a summary of information and personal opinions, and does not constitute investment advice. DYOR.