Analysis: Is Coinbase’s Shady Staking Affecting Ethereum’s Price?
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- Coinbase’s lack of ETH staking transparency raises concerns about its custody structure.
- Ethereum’s key support at $2,685-$2,690 must hold to prevent a drop to $2,650.
- ETH’s RSI at 43.14 suggests a neutral trend, but MACD hints at a potential reversal.
Coinbase, the largest Ethereum staking custodian, has consistently avoided disclosing information on its staked ETH holdings for the past five quarters. And now, estimates suggest Coinbase manages approximately 21% of all staked ETH, making its lack of transparency a significant concern.
Despite calling itself a transparent entity, Coinbase has not provided details on its staked ETH, cbETH backing, or cbBTC reserves. This has raised doubts about the integrity of its staking operations, particularly as its address rotation and custody structure make tracking more challenging.
1/ it's the 5th quarter where @coinbase, the largest staked ETH custodian, refuses to share any info on their staked ETH
— hildobby (@hildobby_) February 18, 2025
estimates indicate they manage ~21% of all staked ETH pic.twitter.com/6a28StGrOH
Coinbase’s Transparency Issues & Staking
Tracking Coinbase’s staked ETH has proven …
The post Analysis: Is Coinbase’s Shady Staking Affecting Ethereum’s Price? appeared first on Coin Edition.
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