Fun

Ethereum back above $3.5K as Consensys says SEC to drop ETH probe

News Feed - 2024-06-19 01:06:55

Ciaran Lyons4 hours agoEthereum back above $3.5K as Consensys says SEC to drop ETH probeETH jumped slightly and again broke $3,500 in the minutes after Consensys reported the SEC had dropped its investigation into Ethereum.1575 Total views8 Total sharesListen to article 0:00Markets NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksEther (ETH) is back above $3,500, having seen a slight price bump after Consensys said the United States Securities and Exchange Commission is ending its investigation into whether ETH is a security.


ETH traded at $3,493 up until the company posted to X on June 19 that the SEC will be shutting its probe — which is “huge for the space,” according to crypto commentators.


“The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,” Consensys wrote.


Within 20 minutes, Ether jumped around 1.4% to $3,541 — breaking its critical and closely watched $3,500 level, according to CoinMarketCap data. At the time of publication, it is trading at $3,531.


The $3,500 level has been crucial for traders, as Ether has frequently moved above and below the mark. Over the past 30 days, it has been a key support level.


The slight jump on Consensys’ post shows increased investor confidence, potentially easing recent concerns on potential securities law violations, including for ETH transfers on the network in the case that the SEC decided to take action.


“This means that the SEC will not bring charges alleging that sales of ETH are securities transactions,” Consenys added, prompting a string of crypto commentators to celebrate the news.


“Huge win for Ethereum,” Delphi Ventures founding partner Tom Shaughnessy wrote.


“A major unlock for the Ethereum ecosystem as we enter a new regulatory regime for crypto,” CoinFund president Christopher Perkins added.


Ether whales showed confidence in the wake of the announcement with blockchain analysis firm Lookonchain reporting a whale buying 5,603 ETH, worth about $19.6 million.Source: Lookonchain


Related:Ethereum price to $10K is the most ‘asymmetric bet’ in crypto — Analyst


It comes just over a month after the SEC approved spot Ether exchange-traded funds (ETFs) in the United States.


There is growing confidence that the final stage before trading — approval of the applicant’s Form S-1 registration statements — is also progressing.


SEC Chair Gary Gensler expects the commission will approve the filings “sometime over the course of this summer,”


Magazine:Ethereum’s recent pullback could be a gift: Dynamo DeFi, X Hall of Flame


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Cryptocurrencies# Ethereum# SEC# Adoption# Markets# United States# Cryptocurrency Exchange# Ether PriceAdd reaction

News Feed

A Number of Hong Kong Vending Machines Support Bitcoin Cash Payments Over BTC
A Number of Hong Kong Vending Machines Support Bitcoin Cash Payments Over BTCJust recently, cryptocurrency evangelist Roger Ver shared a video on Twitter that shows a number of vend
Turner Wright4 hours agoBinance refers users to Coinmerce as exchange exits the NetherlandsA reported hundreds of thousands of users based in the Netherlands will have the opportunity to move their assets to Coinmerce fo
64% of Adults from 10 Different Countries Would Use a Central Bank Digital Currency: Report
64% of Adults from 10 Different Countries Would Use a Central Bank Digital Currency: Report As central bank digital currencies (CBDCs) advance in testing, a numb
Bitcoin Obituaries Lists Another Crypto Eulogy, 2020 BTC Deaths in the Single Digits
Bitcoin Obituaries Lists Another Crypto Eulogy, 2020 BTC Deaths in the Single DigitsThe infamous “Bitcoin Obituaries” has seen another addition to the long list of death
Amaka Nwaokocha14 hours agoHouse Republicans urge tighter export controls on advanced chipsThe letter follows the unveiling of Huawei Technologies’ Mate 60 Pro smartphone, which incorporated advanced chips manufactured
Martin Young2 hours agoWallet of Satoshi vanishes from Apple and Google’s US app storesApple is facing the wrath of crypto users yet again as a popular Bitcoin Lightning wallet disappeared from its U.S.-facing App Stor
Crypto Use-Cases in Africa on the Rise, According to Luno
Crypto Use-Cases in Africa on the Rise, According to LunoTwitter and Square CEO, Jack Dorsey recently said “Africa will define the future (especially the Bitcoin one!)”
Crypto Firm Voyager Digital Secures a $500M Line of Credit From Alameda Ventures to Cope With 3AC Exposure
Crypto Firm Voyager Digital Secures a $500M Line of Credit From Alameda Ventures to Cope With 3AC Exposure Three days ago, Bitcoin.com News reported on the publicly listed company
Ana Paula Pereira8 hours agoStablecoins could be key to upholding US dollar’s global reserve status: WSJ op-edIn an opinion piece in The Wall Street Journal, Brian Brooks and Charles Calomiris claim that U.S. stablecoi
European Union Seeks Strict Regulation of Crypto and Stablecoins in New Draft Law
European Union Seeks Strict Regulation of Crypto and Stablecoins in New Draft LawThe European Commission, the executive arm of the E.U., has drawn up regulation to tightly monitor c
Miami Going Full Bitcoin: City Supports Efforts to Hold Bitcoin in Treasury, Allow Tax Payments in BTC
Miami Going Full Bitcoin: City Supports Efforts to Hold Bitcoin in Treasury, Allow Tax Payments in BTC The U.S. city of Miami is going full bitcoin. The city com
SLP Token Trading Platform Cryptophyl Adds BTC Pair With Bitcoin Cash at Flat 0.15% Fee
SLP Token Trading Platform Cryptophyl Adds BTC Pair With Bitcoin Cash at Flat 0.15% Fee Digital asset exchange Cryptophyl has announced it’s launching bitcoin core (BTC) tr