Ethereum Founder Vitalik Buterin Involved in Process Leading to Hinman Speech, Latest Documents Reveal
Newly released documents reveal that Vitalik Buterin, the founder of Ethereum, was involved in the process leading up to the Hinman speech that granted ETH special clarity as not being a security. The release of these documents in the ongoing SEC vs Ripple lawsuit was highly anticipated in the crypto industry. This is a developing story.
NFT Inspect Launches Twitter-Based NFT Tracking Tool
NFT Inspect, a premier NFT analytics platform, has launched a new Twitter-based PFP tool that allows users to track the movements of a given profile picture NFT as it travels around the social media platform. The application is available as a Chrome extension and a web client, providing information on static Ethereum, Polygon, and Solana NFTs currently circulating on Twitter.
Ethereum Price Attempts Recovery Wave Above $1,740 Against US Dollar
The price of Ethereum is attempting to recover and rise above the $1,740 level against the US Dollar, with the potential for further gains if it surpasses the $1,780 resistance level. However, Ethereum is still trading below the $1,780 and $1,800 resistance levels, and below the 100-hourly Simple Moving Average.
Ethereum's Weekend Dump Eases Near $1700-Support, Both Longs and Shorts Positions Suffered Over $5 Million Liquidations in Last 24 Hours
Ethereum (ETH) has experienced a decline in price after reaching a high of $2100 in Q2 2023. Despite recent drops in Bitcoin (BTC), ETH has not fallen below $1700. The DeFi sector has been impacted by ETH's downward trend, but if the mid-range is not broken, ETH could rally to $1825 or $1850. Long and short positions have both suffered losses of over $5 million in the last 24 hours, indicating a neutral position for ETH's future price direction. Traders should keep an eye on upcoming CPI data and the U.S FOMC meeting.
Exchange Tokens Stabilize as Altcoins Recover from SEC Lawsuit, Bitcoin and Ethereum Remain Stable
Bitcoin and Ethereum prices are holding steady as trading begins in Asia, with exchange tokens worth monitoring. Altcoins that were affected by a recent SEC lawsuit are stabilizing and performing better in the market. The week ahead is expected to be eventful with the U.S. CPI and June FOMC announcements, which could lead to increased market volatility.
Newly Surfaced Video Shows SEC Chairman Gensler Previously Stating Four Cryptocurrencies Are Not Securities
A video has emerged of future SEC Chairman Gensler stating that four cryptocurrencies, including Bitcoin and Ethereum, are not securities and that 75% of the overall crypto market at the time was outside that legal category. The video was recorded at a crypto-themed institutional investor event in 2018 and appears to contradict Gensler's recent suggestion that all cryptocurrencies other than Bitcoin are securities.
Crypto Volumes and Fees Continue to Decline for Bitcoin and Ethereum
Bitcoin and Ethereum on-chain activity has decreased for the fourth week in a row, while DEX trading volume increased from 14% to 22% in May due to regulatory crackdown on centralized exchanges. However, DEX volume has fallen back again, and the entire crypto space is experiencing thin liquidity.
Bitcoin and Ethereum Network Revenues Increase Despite Regulatory Challenges
Bitcoin revenue surged by 249% YoY in May, while Ethereum network fees increased by 53.7% in the same month, driven by adoption and enterprise usage. Despite regulatory and macroeconomic challenges, both blockchains generated strong network revenue.
SEC Lawsuits Against Binance and Coinbase Leave BTC and ETH Unscathed
Last week, the U.S. Securities and Exchange Commission filed lawsuits against Binance and Coinbase, causing a drop in prices for all assets. However, Bitcoin and Ethereum have since rallied, with Bitcoin up 2.75% on the five-day window and Ethereum experiencing a 5% intraday gain.
Binance Halts Trades Across Multiple BNB and ETH Pairs Following SEC Lawsuit
Binance has suspended trading for several Binance Coin (BNB) and Ethereum (ETH) token pairs, including its native BNB token and the defunct Binance USD (BUSD) stablecoin, following its recent lawsuit by the Securities and Exchange Commission (SEC).
