Ethereum: Regulatory Relief on Horizon, Staking Heats Up, But Price Feels the Bearish Squeeze
Ethereum (ETH) enthusiasts have reasons to be both optimistic and cautious based on recent developments. The US SEC granted preliminary
Ethereum (ETH) enthusiasts have reasons to be both optimistic and cautious based on recent developments.
Good News on the Regulatory Front
The US Securities and Exchange Commission (SEC) granted preliminary approval to Ethereum ETF filings from major players like BlackRock and Grayscale. SEC Chair Gensler hinted at potential full approval by late summer, offering much-needed clarity for investors. This approval could pave the way for wider institutional adoption of Ethereum.
Staking on the Rise
The popular crypto wallet launched a pooled staking feature, allowing users to participate without the high minimum requirements. Despite the new entrants, Lido remains the dominant player in Ethereum staking, holding the largest share of staked ETH.
Price Feels the Downturn
ETH has fallen victim to the broader market correction, currently trading below $3,500. While the price climbed since mid-May, the recent decline and dwindling network growth cast doubt on the previously bullish trend.
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