Ethereum News: Whale Liquidation Highlights Volatility, But Staking Offers Price Boost Hope

Recent events in the crypto market have showcased both the risks and potential rewards associated with Ethereum (ETH). A significant liquidation event involving a whale has grabbed headlines, while the possibility of staking boosting ETH’s price offers a glimmer of hope for investors.

Whale Liquidated for $306 Million as ETH Falls Below $1,805

The crypto market experienced intensified volatility, leading to multiple liquidations, particularly affecting long position acquisitions. A whale was liquidated for a massive amount of Ethereum (ETH) after the price fell below $1,805. Specifically, the whale lost 160,234 ETH, equivalent to $306.85 million. Earlier, ETH’s price declined to a low of $1,760.94.

Ethereum Price Forecast: Staking Could Boost ETH Price

Staking within Ethereum ETFs could be a significant catalyst to drive Ethereum’s (ETH) price higher, according to K33 Research. The SEC has acknowledged Fidelity’s filing to permit staking in its Ethereum ETF. ETH traded around $1,860 on Thursday, subdued by bearish sentiment in the crypto market. However, expectations of staking approval could lift ETH’s price. Resistance may form NEAR $2,000 if ETH consolidates around current prices.

Fidelity Seeks SEC Approval for Ethereum ETF Staking

Fidelity has filed an application with the SEC seeking permission to offer staking on its Ethereum [ETH] ETF product. If approved, this could offer an extra 3% yield to investors by delegating part of ETH to validators to secure the blockchain network and reward them with additional tokens. The move follows similar applications by 21Shares and Grayscale in February, indicating growing Optimism around potential staking features in U.S. spot ETH ETFs. The Ethereum ETFs launched last summer now have about $7 billion in total net assets locked in custody accounts, which could generate extra yield if staked.

Ethereum Hints At Bull Run, Mutuum Finance Could Bring 32x ROI

Ethereum’s price currently sits at $2,098, attempting to recover from a 10% weekly market dip. Analysts are unsure if ETH will break through resistance levels for an 18% price increase or fall to $1,500. Investors are now focusing on MUTM from Mutuum Finance, which is approaching its third presale phase and expected to experience major price increases.