Ethereum’s recent victory over the US Securities and Exchange Commission (SEC) has seen ETH rise 4.9% in the last 24 hours. Taking advantage of this, a smart whale bought several tens of millions worth of ETH right after this victory was announced and withdrew them from Binance.
Ethereum’s recent victory over the US Securities and Exchange Commission (SEC) has seen ETH rise 4.9% in the last 24 hours. Taking advantage of this, a smart whale bought several tens of millions worth of ETH right after this victory was announced and withdrew them from Binance.
The big whale buys a large amount of ETH
As reported by the account @spotonchain Analytics 19 days. The whale accumulated all this Ethereum at an average price of $3,600 per coin.
His most recent purchase was buying 5,603 ETH (the equivalent of $19.7 million) several hours ago. This buildup took place after the SEC permanently abandoned its investigation into Ethereum 2.0.
SEC investigation into Ethereum 2.0 closes
Earlier today, the Consensys lab, created by Ethereum co-founder Joseph Lubin, announced a big win for Ethereum developers and the entire cryptocurrency space when the SEC’s Enforcement Division notified the team that the regulator finally closed its research on Ethereum 2.0.
This means that the regulator will not officially criticize Ethereum as a security. This decision to close the case, according to the Consenys in May meant that the investigation would be closed.
This decision is vital for Ethereum, the tweet states. However, it is not a solution for the rest of the numerous blockchain developers, technology providers and other participants in the cryptocurrency industry, who have suffered under the “SEC’s aggressive and illegal cryptocurrency enforcement regime.”
Yuri MolchanEthereum jumps almost 5%
Boosted by the SEC regulator’s decision, the second largest cryptocurrency, Ethereum, demonstrated a substantial price increase, rising 4.88%.
This increase came after the 6.69% drop that took place earlier this week. So far, Ethereum has recovered, but that 5% rise was followed by a marginal pullback of less than 1%. At the time of writing this article, Ethereum is changing hands at $3,541.
