Ethereum Staking Reaches New High, Spot ETH ETF Approval Nears, Price Expected to Break $2800

The amount of Ethereum staked has reached a historic high of 34.8 million ETH, accounting for approximately 28.15% of the circulating supply. This growth reflects increased investor confidence and institutional participation, particularly driven by market anticipation for spot Ethereum ETF staking. The U.S. Securities and Exchange Commission (SEC) is expected to soon approve an Ethereum ETF that supports staking, with REX Shares having submitted a related application, and BlackRock's iShares Ethereum Trust experiencing no outflows for 23 consecutive trading days. Ethereum's price has recently risen by over 8%, reaching $2,768, with technical indicators showing strong upward momentum, suggesting a short-term test of the $2,800 resistance level, and possibly even breaking through to $2,900. Investors should be aware of the potential pullback risk as the Relative Strength Index (RSI) enters the overbought zone.