ETH climbs above $4,600 as Grayscale signals shift to staking

Movements of ETH from Grayscale’s wallets suggest the large-scale holder may be preparing to stake the ￰0￱ may create a precedent of using its significant ETH holdings to receive ￰1￱ may be looking at millions in passive income if it stakes its ETH holdings. On-chain analysts have noticed movements from some of Grayscale’s wallets, suggesting the company may finally become a staker, after years of passively holding ￰2￱ wallets began moving funds Grayscale’s public wallets started moving tranches of exactly 3.2K ETH to new unidentified ￰3￱ company moved 40K ETH in an hour, with the potential to stake 1.5M ￰4￱ recently, Grayscale was among the biggest holders, mostly due to its ETHE ETP, which was later transformed into a full ￰5￱ one point, Grayscale also acquired a vast reserve of ETH at extremely low prices, even buying at $90.

Afterward, Grayscale sold a significant part of its holdings, still retaining 1.51M ￰6￱ time, the new ETF balances flowed into Grayscale’s wallets, as investors flocked to ￰7￱ may expect rewards of 45K to 60K ETH per year, while potentially learning to use liquid staking ￰8￱ alone will add 45,785 validators if all of its ETH reserves are ￰9￱ fund may be the first to build a staking ETF, following BlackRock’s pressure to create this type of investment ￰10￱ coin movements happened after Grayscale’s Digital Large Cap ETP received permission to trade as an ETF, as Cryptopolitan reported ￰11￱ breaks above $4,600 Following the news of the eventual Grayscale stake, ETH continued its recovery, breaking to $4,632.07.

ETH is still trading with expectations for a breakout to a higher range, based on demand from treasury companies and ￰12￱ open interest remained above $27B, with a slight increase in short ￰13￱ also faces significant liquidity in the $4,440 range, which may be attacked and lead to a short-term ￰14￱ staking queue shows another exit wave The ETH validator queue showed increased activity in the past ￰15￱ the past days, the queue expanded, with 2,484,285 ETH waiting to be ￰16￱ 462,882 ETH are waiting to enter the Beacon Chain ￰17￱ validators are rapidly moving coins, with another spike in requests to unstake tokens. |