Ethereum News: CBOE Files to Enable Staking on Fidelity Ethereum ETF, Price Fluctuates

The Chicago Board Options Exchange (CBOE) has made a significant move to potentially enhance returns for investors in the Fidelity Ethereum ETF by filing a proposal with the Securities and Exchange Commission (SEC) to enable staking. This development has led to fluctuations in Ethereum’s price, sparking interest in the cryptocurrency community.

CBOE Files to Approve Staking on Fidelity Ethereum ETF

The Chicago Board Options Exchange (CBOE) has filed a 19b-4 form with the Securities and Exchange Commission (SEC) to enable staking for the Fidelity Ethereum ETF. The proposal aims to allow the fund to stake its Ethereum holdings and enhance returns for investors. In response to the news, Ethereum’s price surged slightly and reached $1,960. However, at the time of publication, it was trading at $1,891, marking a 6.90% decline in the last 24 hours.

Ethereum Nears Key Realized Price Support

Ethereum’s price is hovering near the Realized Price of $2,066, a crucial support level. If Ethereum fails to maintain this level, the next significant support could be at $1,440. The current market price of $2,021 is testing this Realized Price, which has historically served as a support floor in previous downturns. The Market Value to Realized Value (MVRV) Pricing Bands provide a key framework for evaluating Ethereum’s valuation.

Ethereum (ETH) Price Prediction for March 11

The current trading price of Ethereum (ETH) is $1,881, showing a 7.37% drop in the last 24 hours. The 30-day trend indicates a 28.41% decline, suggesting significant bearish pressure. The RSI is around 42–45, indicating a neutral to slightly oversold condition. Further decline below 40 could suggest extreme oversold territory. Volatility in the cryptocurrency market is influenced by regulatory news, macroeconomic shifts, and network upgrades.

Longling Capital Makes New ETH Withdrawals After Major Liquidation

Longling Capital, a notable crypto player, recently withdrew 10,001 ETH worth $19.16 million from Binance. Prior to this, the company transferred 21,000 ETH worth $38.81 million to the exchange. This rapid fund transfer garnered investor attention and sparked discussions about potential trading activities or strategic shifts in the market. In June 2022, Longling Capital experienced a significant liquidation of 93,793 ETH worth $114 million due to high leverage positions in volatile markets.