
An Ethereum ( ETH )-based liquid staking token is soaring in price after the top US-based crypto exchange platform Coinbase announced support for the altcoin. In a new thread, Coinbase says it’s adding support for liquid staking protocol Renzo ( REZ ), a project that aims to streamline the process of staking Ethereum and other digital assets. “Coinbase will add support for Renzo (REZ) on the Ethereum (ERC-20 token) network… Trading will begin on or after 9AM PT on 6 March, 2025, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our REZ-USD trading pair will launch in phases.” News of the addition sent REZ flying, as the digital asset went from a low of $0.0170 on March 5th to a peak of $0.0243 just a day later. REZ has since stabilized in price and is trading for $0.0204 at time of writing, a 20.5% gain on the day. Liquid restaking is when traders use digital assets they are already staked and further stake them on a different platform, enhancing their earned reward as well as the protocol’s security and liquidity. Other notable digital assets available for restaking via the protocol include Solana ( SOL ), Jito ( JTO ), and EigenLayer ( EIGEN ), according to the project’s official webpage . “Renzo is a restaking protocol that abstracts and manages AVS strategies for Liquid Restaking Tokens (LRTs), making Ethereum and Solana restaking ezpz and accessible to everyone. The products ezETH, pzETH, and ezSOL serve as interfaces to the EigenLayer, Symbiotic, and Jito Network ecosystems, respectively. Renzo’s mission is to make restaking easy and accessible to everyone.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Pattern Trends The post Ethereum (ETH)-Based Liquid Restaking Altcoin Leaps Upon Announcement of Coinbase Support appeared first on The Daily Hodl .
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Why XRP Struggles to Surpass the $3 Mark Despite Initial Optimism

XRP struggles to surpass the $3 mark due to several economic factors. Technical indicators suggest potential declines if critical support levels are breached. Continue Reading: Why XRP Struggles to Surpass the $3 Mark Despite Initial Optimism The post Why XRP Struggles to Surpass the $3 Mark Despite Initial Optimism appeared first on COINTURK NEWS . The Daily Hodl

Ethereum Whale Activity Sparks Speculation of Major Price Movement Ahead
In recent times, significant whale activity has been observed in Ethereum . In just the last 48 hours, well-heeled investors have added more than a million $ETH to their portfolios. This notable accumulation, by high-net-worth individuals, has led to rampant speculation that these big players have some sort of insider knowledge or are at least making a very bullish bet on Ethereum ahead of what many hope will be a sharp price rebound. Whales bought 1.10 million #Ethereum $ETH in the last 48 hours! Do they know something we don`t? pic.twitter.com/ucSTelerNC — Ali (@ali_charts) March 6, 2025 Ethereum’s MVRV and Historical Buying Patterns Ethereum’s recent price movements have brought the asset nearer to levels that have offered long-term investors solid returns in the past. Since 2016, buying Ethereum whenever it dips below the Market Value to Realized Value (MVRV) ratio has proved to be a profitable strategy. The MVRV is a metric that compares the current market value of the asset to its realized value. When the Ethereum has traded below the MVRV, it has typically indicated a favorable entry point. The asset provides investors with strong returns in the subsequent market rally. Since 2016, buying #Ethereum $ETH whenever it dips below the MVRV has consistently provided the best returns! pic.twitter.com/7WDpwLkNvn — Ali (@ali_charts) March 7, 2025 Considering this strategy’s historical success, a watching cohort of traders has trained its collective attention on whether the present MVRV dip beneath might just be signaling Ethereum’s next big buying opportunity. Another rumbling factor is the Ethereum whale class. These accumulation-heavy market actors, in seeming concert, have pushed Ethereum prices down to where they are today. Do they see current price levels as a similar value to what they were in the past, expecting another big Ether cycle pay-off? Key Resistance and Support Levels for Ethereum Ethereum’s price chart is currently spotlighting some essential obstacles, with traders and analysts directing their attention toward certain crucial levels. These individuals gauge these levels to try and understand where the next principal price move might occur. The biggest sticking point for Ethereum right now is the resistance zone around $2,460. At this level, 10.95 million holders apprehended 64.52 million ETH. This means there is a buttload of supply at this price point. If Ethereum can punch through this level, it could reignite the somewhat muted bullish momentum that we have seen in this market. The biggest hurdle for #Ethereum is at $2,460, where 10.95 million investors acquired 64.52 million $ETH . Breaking through this level will reignite #ETH bullish momentum! pic.twitter.com/tZLGuOPzrH — Ali (@ali_charts) March 7, 2025 Conversely, as long as Ethereum stays above $2,200, the price could well see a rebound. It’s hovered around there too many times to not consider the $2,200 level a psychological support price in the previous market cycle—and in this one, so far. Since 2016, buying #Ethereum $ETH whenever it dips below the MVRV has consistently provided the best returns! pic.twitter.com/7WDpwLkNvn — Ali (@ali_charts) March 7, 2025 Besides giving off good vibes, the weekly chart’s TD Sequential indicator (a popular technical tool for identifying potential price reversals) has flashed a buy signal for Ethereum. And not just any buy signal, but a decent-for-bulls buy signal that comes with an A13. An A13 buy signal happens when the TD Sequential indicator is showing an apparent imminent price reversal to the upside. And that is what we have in the picture above for Ethereum right now. More specifically, we have a series of consecutive price candles that say this is happening. In terms of trading rebound opportunities, this is a major signal. If Ethereum holds even better than it has until now, at around $2,200, then it could be just about ready for a price push upward. Bullish Potential if Ethereum Breaks $2,350 In the short term, one of the key price levels for Ethereum is $2,350. Should Ethereum manage to regain this price point, analysts think the cryptocurrency could chalk up another significant rally—this time, toward $3,260. The price bands suggest that regaining $2,350 would be a critical move, potentially triggering a strong upward push that might take Ethereum to the next resistance level. The target of $3,260 appears quite achievable when we consider that Ethereum has shown time and again that it can break key price levels and surge upward. For it to get to the target, however, it would need to increase substantially from where it is now. This increase, of course, is what long-time Ethereum bulls are banking on. Ethereum ETF Outflows and Market Sentiment In spite of the favorable technical outlook for Ethereum, the market is addressing some immediate challenges. On March 6, the Ethereum spot exchange-traded fund (ETF) saw a net outflow of $35.89 million. This represents a change in investor sentiment, as big institutional investors seem to be pulling money out of Ethereum-based products. While the outflows do look concerning, they don’t have to signal anything nefarious or a trend that’s going to last for a long time. They could just be short-term market adjustments or profit-taking by institutional players who have been holding onto Ethereum for a long time. On March 6, the Bitcoin spot ETF had a total net outflow of $134 million, which continued for 4 consecutive days; the Ethereum spot ETF had a total net outflow of $35.8867 million. https://t.co/59u0BnEqLG — Wu Blockchain (@WuBlockchain) March 7, 2025 The outflows from Ethereum’s ETF might also signal a shift among institutional investors who are reallocating capital to other assets within the cryptocurrency space or to traditional markets. But, as far as we’re all aware, such reallocations aren’t being driven by any significant negative developments intrinsic to Ethereum itself. Rather, the context here is that Ethereum’s strong fundamentals and the positive signals from both whale activity and the technical picture are, as far as anyone can tell, keeping a strong overall vibes in terms of market sentiment. The Road Ahead for Ethereum Ethereum is currently consolidating around vital support levels, which gives it potential as an opportunity for traders and investors. The effects of the recent ETF outflows are still being mulled over by the market, but on a technical basis, Ethereum has been printing some bullish signals of late. The price recovery that followed a recent dip took Ethereum back to the $2,300–$2,400 zone, where it has been slowly working its way up. As for upside targets, a break above $2,460 could send the price to around $3,260. While Ethereum’s price keeps moving through a set of really important price levels, it’s worth keeping an eye on for any further developments with whale accumulation, ETF flows, and whallicate buying which could drop us some big clues about the next major move. At the moment, the whales remain in buy mode and have been for some time. On top of that, buying below the MVRV continues to be a sign that whatever we might think of price action at the moment, Ethereum is a good asset to buy. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: handmadepictures/ 123RF // Image Effects by Colorcinch The Daily Hodl