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4h ago

Ethereum Tests $4,300 Support as Reports Flag Massive Grayscale Staking and On-Chain Strength

Large lockups alongside surging network activity hint at structural demand despite choppy trading.

Grayscale stakes 857K ETH: What it means for Ethereum’s Q4 run
Ethereum price tests support near $4,300 as spot eth etfs see first net outflows in 9 days
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Overview

  • ETH trades near $4,300–$4,400 after multiple rejections around $4,800, with technicians watching $4,250–$4,100 as the next support zone.
  • Grayscale is reported to have staked about 857,600 ETH (roughly $3.83 billion), with some coverage citing totals near $5.14 billion, signaling growing institutional participation.
  • The validator entry queue has risen to roughly 1.3 million ETH in recent days, tightening the liquid float and pushing total staked to about 36.17 million.
  • On-chain activity remains robust, with internal contract calls exceeding 9.5 million per day and tokenized real‑world assets on Ethereum near $11.7 billion.
  • U.S. spot ETH ETFs saw $8.54 million in net outflows on Oct. 9 after early‑October net inflows above $1.3 billion, marking a brief pause in appetite.