Ethereum
(ETH), the second-largest cryptocurrency by market capitalization, saw a
notable increase on Wednesday as it attempted to rebound from multi-month lows.
The price movement followed reports that CBOE and 21Shares plan to introduce
staking options for the token within their exchange-traded funds (ETFs).
At the same
time, a recent analysis by 10x Research indicates that Ethereum appears
technically oversold, with its Relative Strength Index (RSI) dropping to 36%.
Several upcoming catalysts could potentially support a price recovery.
Why is
Ethereum’s price up today, and will ETH continue to climb in February 2025? We
examine the latest expert insights and predictions.
Why Is Ethereum Going Up? 21Shares
Pioneers Staking Integration for Spot ETF
Ethereum’s
price jumped significantly this week as CBOE BZX Exchange unveiled
groundbreaking plans to incorporate staking capabilities into 21Shares’ spot
Ethereum ETF, marking a potential watershed moment for institutional
cryptocurrency investment.
The
second-largest cryptocurrency by market capitalization surged 5.3% to reach $2,800
before settling at $2,738 on Wednesday, as investors responded to the
innovative proposal that could fundamentally transform the ETF landscape. This
move represents the first attempt to combine traditional ETF structure with
cryptocurrency staking rewards.
Why is Ethereum price up today? Source: Tradingview.com
In a filing
with the Securities and Exchange Commission (SEC), 21Shares
outlined its intention to stake portions of the Trust’s Ether holdings through
verified staking providers. The asset manager emphasized that this approach
would enhance investor benefits while maintaining accurate tracking of Ether’s
performance.
Joe Lubin,
Ethereum co-founder, had previously hinted at such developments, revealing
ongoing discussions with ETF providers about staking integration. This filing
appears to confirm those efforts are moving from concept to reality.
Markus Thielen, the CEO of 10x Research.
Ethereum Shows Signs of
Oversold Conditions, Says 10x Research
The digital
asset, currently trading below $2,700, navigates a complex market landscape
where institutional interest meets technical pressure points. The
cryptocurrency’s recent price action has been notably more volatile compared to
Bitcoin’s steady bull run, creating what market analysts describe as high-risk,
high-reward opportunities around key events.
Ethereum’s
decline to its lowest levels since November also led to a drop in the…
