Ethereum sees stronger whale positioning as its Q3 rebound strengthens its lead over Bitcoin.
MetaMask, one of the leading cryptocurrency wallets, recorded a security incident on September 30, which reportedly forced it to exit a large number of Ethereum (ETH) validators.
Citi raised its 12-month ETH target to $3,028 from $2,240. Can Ethereum break $2,800 and extend its Q4 rally?
The Oct. 6 Glamsterdam fork will test the setting on Sepolia, but validators must opt in and the test does not change Ethereum's mainnet gas limit.
Prysm 7.2.0 supports the scheduled fork, but validators wanting a 200 million gas preference must configure it explicitly.
Ethereum has been consolidating over the last 24 hours after the Federal Reserve's preferred inflation measure came in below expectations, easing concerns about another interest-rate increase. ETH rose from a session low of $2,655 to $2,730 following the release, a rebound of approximately 2.8%. The improvement in sentiment coincided with encouraging onchain indicators and growing attention to Ethereum's upcoming Glamsterdam upgrade. However, Ethereum has dropped below $2,700 and is now trading around $2,680 on Thursday. Ethereum maintains a bullish outlook, but analysts anticipate further consolidation, potentially including a retreat toward $2,500 before a sustained move higher. Softer PCE data reduces rate-hike expectations August's headline Personal Consumption Expenditures price index showed annual inflation of 3.4%, approximately 0.
MetaMask is exiting affected Ethereum validators after a security incident. Lido expects exits by Oct. 7 and says stETH holders need no action.
Ethereum held above $2,700 on Oct. 1 as a Lubin-linked wallet moved 133,298 ETH, with no sign of exchange-bound selling.
MetaMask has started taking affected Ethereum validators offline after disclosing a security incident in part of its infrastructure. The company says client withdrawal keys are outside its control.
About 17,000 validators holding roughly 523,000 ETH voluntarily exited after the security incident.
Lido confirmed MetaMask Staking infrastructure was compromised, though MetaMask says it has found no immediate threat to wallets.
Ether was down 0.85% from one hour earlier after trading at $2,717 15 minutes before the move.