{"id":519286,"date":"2023-02-13T09:30:53","date_gmt":"2023-02-13T09:30:53","guid":{"rendered":"https:\/\/wncen.com\/?p=519286"},"modified":"2023-02-13T08:33:20","modified_gmt":"2023-02-13T08:33:20","slug":"sec-goes-after-ethereum-staking-but-what-happens-to-all-the-staked-eth","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/sec-goes-after-ethereum-staking-but-what-happens-to-all-the-staked-eth\/","title":{"rendered":"SEC Goes After Ethereum Staking, But What Happens To All The Staked ETH?"},"content":{"rendered":"

On Thursday, it was revealed that crypto exchange Kraken reached a settlement with the Securities and Exchanges Commission (SEC) to stop offering staking services for Ethereum and similar cryptocurrencies. This news understandably triggered a dip in the prices of digital assets across the space, but the question now becomes, where does all of the staked ETH go?<\/p>\n

Users Wonder Where Kraken Staked ETH Will Go<\/h2>\n

Kraken\u2019s agreement with the SEC<\/a> saw it stop offering crypto staking services to retail investors in the United States immediately after the announcement was made. In Kraken\u2019s announcement, it said that it will unstake all staked tokens and users will receive their staked crypto in their balances, but it is different for Ethereum.<\/p>\n

Related Reading: KuCoin Stakes 47.9 Billion LUNC Tokens, Good News For Holders?<\/a><\/div>\n

Now, Ethereum currently differs from other staking networks in the fact that users are not yet able to withdraw their staked ETH. This means that all of the staked ETH that users have on Kraken will remain locked. So despite the crypto exchange\u2019s agreement with the SEC, U.S. retail investors will still be able to earn rewards on their staked ETH, they just won\u2019t be able to add to their positions.<\/p>\n

Kraken says that this will continue until the \u201cShanghai\u201d upgrade which will add a withdrawal capability for the contract. Once this happens, all of the ETH staked through the exchange will be unstaked and returned to the users.<\/p>\n

Ethereum On The Charts<\/h2>\n

Over the last day, Ethereum has seen a decline in its price along with the rest of the cryptocurrency market. The digital asset which had been maintaining its value above $1,600 for the better part of the week saw a sharp plunge that brought its price back down to the $1,500 level.\u00a0<\/span><\/p>\n

Related Reading: Bearish Signal? DCG Starts Selling Grayscale Crypto Shares At Almost 50% Discount<\/a><\/div>\n

As a result, the price of the cryptocurrency is now trading below its 20-day moving average. What this means is that while ETH has been able to maintain its bullish momentum, selling pressure is already piling up from the shooters, meaning that momentum is beginning to swing in the favor of the bears.<\/p>\n

If ETH is unable to hold $1,500 and falls to the $1,300 level, then it will likely mark an end to the mini-bull run that the asset has experienced since the beginning of February. Thus, it is imperative that bulls maintain support at $1,500 to establish an upward trend once more.<\/p>\n

At the time of this writing, Ethereum\u2019s price is down over 4.80% in the last 24 hours to be trading at $1,552, according to data from Coinmarketcap.<\/p>\n

\"Ethereum<\/p>\n

ETH price falls below $1,600 | Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Nasdaq, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On Thursday, it was revealed that crypto exchange Kraken reached a settlement with the Securities and Exchanges Commission (SEC) to stop offering staking services for Ethereum and similar cryptocurrencies. This news understandably triggered a dip in the prices of digital assets across the space, but the question now becomes, where does all of the staked ETH go? Users Wonder Where Kraken Staked ETH Will Go Kraken\u2019s agreement with the SEC saw it stop offering crypto staking services to retail investors in the United States immediately after the announcement was made. In Kraken\u2019s announcement, it said that it will unstake all staked tokens and users will receive their staked crypto in their balances, but it is different for Ethereum. Related Reading: KuCoin Stakes 47.9 Billion LUNC Tokens, Good News For Holders? Now, Ethereum currently differs from other staking networks in the fact that users are not yet able to withdraw their staked ETH. This means that all of the staked ETH that users have on Kraken will remain locked. So despite the crypto exchange\u2019s agreement with the SEC, U.S. retail investors will still be able to earn rewards on their staked ETH, they just won\u2019t be able to add to their positions. Kraken says that this will continue until the \u201cShanghai\u201d upgrade which will add a withdrawal capability for the contract. Once this happens, all of the ETH staked through the exchange will be unstaked and returned to the users. Ethereum On The Charts Over the last day, Ethereum has seen a decline in its price along with the rest of the cryptocurrency market. The digital asset which had been maintaining its value above $1,600 for the better part of the week saw a sharp plunge that brought its price back down to the $1,500 level.\u00a0 Related Reading: Bearish Signal? DCG Starts Selling Grayscale Crypto Shares At Almost 50% Discount As a result, the price of the cryptocurrency is now trading below its 20-day moving average. What this means is that while ETH has been able to maintain its bullish momentum, selling pressure is already piling up from the shooters, meaning that momentum is beginning to swing in the favor of the bears. If ETH is unable to hold $1,500 and falls to the $1,300 level, then it will likely mark an end to the mini-bull run that the asset has experienced since the beginning of February. Thus, it is imperative that bulls maintain support at $1,500 to establish an upward trend once more. At the time of this writing, Ethereum\u2019s price is down over 4.80% in the last 24 hours to be trading at $1,552, according to data from Coinmarketcap. ETH price falls below $1,600 | Source: ETHUSD on TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from Nasdaq, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":519290,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,83939,1946,85694,8686,2676,3799],"class_list":["post-519286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-staking","tag-ethereum","tag-ethereum-staking","tag-ethusd","tag-kraken","tag-sec"],"acf":[],"yoast_head":"\nSEC Goes After Ethereum Staking, But What Happens To All The Staked ETH?<\/title>\n<meta name=\"description\" content=\"SEC reached agreement with Kraken to stop offering staking services for Ethereum 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"SEC Goes After Ethereum Staking, But What Happens To All The Staked ETH?","url":"http:\/\/wncen.com\/news\/ethereum\/sec-goes-after-ethereum-staking-but-what-happens-to-all-the-staked-eth\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/sec-goes-after-ethereum-staking-but-what-happens-to-all-the-staked-eth\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-staking.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-staking.jpeg?fit=720%2C400"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth staking","ethereum","ethereum staking","ethusd","kraken","sec"],"dateCreated":"2023-02-13T09:30:53Z","datePublished":"2023-02-13T09:30:53Z","dateModified":"2023-02-13T09:30:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"SEC Goes After Ethereum Staking, But What Happens To All The Staked ETH?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/sec-goes-after-ethereum-staking-but-what-happens-to-all-the-staked-eth\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/sec-goes-after-ethereum-staking-but-what-happens-to-all-the-staked-eth\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Ethereum-staking.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Ethereum-staking.jpeg?fit=720%2C400\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth staking\",\"ethereum\",\"ethereum staking\",\"ethusd\",\"kraken\",\"sec\"],\"dateCreated\":\"2023-02-13T09:30:53Z\",\"datePublished\":\"2023-02-13T09:30:53Z\",\"dateModified\":\"2023-02-13T09:30:53Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-staking.jpeg?fit=720%2C400","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519286"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=519286"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/519286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/519290"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=519286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=519286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=519286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}