Ethereum
16,604 ETH seized from Binance as SEC confirms Ethereum is not a security
Yuri Molchan
Smart Whale withdraws large amount of ETH from largest exchange after regulator drops investigation against Ethereum
Read U.TODAY on
Google News
The recent victory of Ethereum The United States Securities and Exchange Commission (SEC) caused ETH to rise by 4.9% in the last 24 hours. Taking advantage of this, a smart whale bought several tens of millions of ETH right after this victory was announced and withdrew them from Binance.
A large whale buys a large supply of ETH
As reported by @spotonchain Analytics , Binance, in the last 19 days. The whale accumulated all this Ethereum at an average price of $3,600 per coin.
His most recent purchase was purchasing 5,603 ETH (equivalent to $19.7 million) several hours ago. This accumulation took place after the SEC permanently dropped its investigation into Ethereum 2.0.
SEC Ethereum 2.0 Investigation Closed
Earlier today, Consensys Lab, created by Ethereum co-founder Joseph Lubin, announced a major victory for Ethereum developers and the entire cryptocurrency space as the Enforcement division of the SEC informed the team that the regulator has finally closed its investigation into Ethereum 2.0.
This means that the regulator will not officially criticize Ethereum as collateral. This decision to dismiss the case, according to the Consenys May wanted to say that the investigation would be closed.
This decision is vital for Ethereum, the tweet states. However, this is not a solution for the rest of the many blockchain developers, technology providers and other players in the cryptocurrency industry, who have suffered from the “illegal and aggressive crypto enforcement regime of the SEC.”
Ethereum jumps almost 5%
Fueled by the SEC regulator’s decision, the second largest cryptocurrency, Ethereum, posted a substantial price rise, up 4.88%.
This increase comes after the 6.69% drop that occurred at the start of the week. Ethereum has so far recovered, but this 5% rise was followed by a slight decline of less than 1%. At the time of writing these lines, Ethereum changes hands at $3,541.
About the Author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects. He has written for several crypto media outlets. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.