Ethereum Price Today: $2,650
- Ethereum Foundation deploys nearly $120M across Aave, Compound, and MakerDAO's Spark.
- Cboe files with SEC to allow staking in 21Shares' Ethereum ETF.
- ETH faces rejection at $2,817 amid market consolidation due to lack of catalysts.
Ethereum (ETH) dipped 1% on Thursday after encountering resistance at the $2,817 support level. The Ethereum Foundation’s capital allocation to DeFi protocols failed to catalyze price movement, as macroeconomic factors continued to weigh on crypto markets.
Ethereum Foundation Allocates 45,000 ETH to DeFi Protocols
The Ethereum Foundation (EF) announced deploying 45,000 ETH (worth ~$120M) across multiple DeFi platforms:
- 30,800 ETH to Aave (20,800 ETH to Aave Core, 10,000 ETH to Aave Prime).
- 10,000 ETH to Spark (part of MakerDAO’s ecosystem).
- 4,200 ETH to Compound.
"We're grateful for the Ethereum security community’s efforts to make DeFi secure and usable!"
— Ethereum Foundation (@ethereumfndn) February 13, 2025
At current yields (~1.5% APY), EF’s positions could generate ~$1.8M annually, bolstering its treasury without liquidating assets.
This move follows criticism from crypto community members accusing EF of insufficient protocol support. In response, EF committed to deploying ~50,000 ETH to boost DeFi activity on Ethereum.
👉 Explore Ethereum’s latest DeFi integrations
Meanwhile, Cboe filed with the SEC to permit staking in 21Shares’ Core Ethereum ETF (CETH). If approved, staking could attract more inflows to ETH ETFs. Analysts like Standard Chartered predict ETH could rally to $14,000 by year-end if staking-enabled ETFs gain traction.
Ethereum Price Analysis: Rejection at $2,817
- **$37.29M** in ETH futures were liquidated in 24 hours ($22.02M longs, $15.28M shorts).
- Key resistance: $2,817 (14-day EMA). A breakout could test the descending channel’s upper boundary.
- Support levels: $2,200 (if channel support breaks).
Indicators:
- RSI/Stoch: Below neutral, signaling bearish momentum.
- MACD: Declining histograms suggest weakening bearish pressure.
Without a catalyst, ETH may continue consolidating below $2,817—a level previously breached only by major events (e.g., U.S. election volatility).
FAQs
What is Ethereum?
Ethereum is a decentralized blockchain supporting smart contracts and dApps (DeFi, NFTs, DAOs). Its native token, ETH, is the second-largest cryptocurrency.
How do smart contracts work?
Self-executing code that automates agreements when predefined conditions are met.
What is Ethereum staking?
Staking involves locking ETH to earn rewards and secure the network under its PoS consensus (since The Merge in 2022).
Why are gas fees high?
Gas (transaction fees) spikes during network congestion as validators prioritize higher-paying transactions.
👉 Learn how to stake ETH securely