Almost every decision of the U.S Securities and Exchange Commission affects the price of cryptocurrencies, sometimes positively and sometimes negatively. In the past 24 hours, Ethereum lost over 1.20% of its trading price and was trading at $2,616 as of writing.
Market spectators claim that the decline in ETH price seems to be fueled by the decision of the SEC to postpone the decision over application by BlackRock seeking approval to list and trade options contracts on iShare Ethereum Trust (ETHA).
Before the official announcement by the commission to postpone its decision it was speculated that BlackRock could likely get approval to list and trade options contracts.
The decision impacted the Ethereum ETF category as it observed roughly $79 million in outflow on September 24, 2024. Leading investors and analysts claim that the prices of ETH are likely to face rejection in the coming rejection as its exchange reserves continue to grow.
Other Market News Updates
On September 25 Todayq reported that the Enforcement Directorate in India has tracked down a gaming scam with the help of Binance, a leading cryptocurrency exchange globally.
Per available stats, India has the fastest crypto adoption rate in the world, and the national market is dominated by Binance and other leading exchanges. In August 2024, it got legal status after India’s Financial Intelligence Unit (FIU-IND) approved its application to operate.
The Securities and Exchange Commission settled accusations against TrueCoin and TrustToken regarding fraudulent and unregistered sales of investment contracts involving TrueUSD.
Furthermore, the press release notes that “ TrueCoin has agreed to pay disgorgement of $340,930 with prejudgment interest of $31,538. The settlements are subject to court approval.”
Recently in an interview with CNBC, Larry Fink the head of BlackRock expressed optimism for Bitcoin terming it a legitimate investment, as it has great potential. He also asserts that BTC could likely reach $100,000 in the coming future.
eToro, an Israeli crypto based trading company, launched its spot trading services in Germany, to facilitate spot trading it joined hands with DLT Finance and with Tangany for custody services. The move to launch spot trading in the region shows eToro’s intention to expand its presence in the market.
Both DLT Finance and Tangany are regional firms registered with the regulator BaFin. The transaction fee decided as of now is 1%, however, some alterations are expected in the coming years.
Crypto Market Price Updates
When writing the cryptocurrency market, capitalization was $2.192 trillion with a weekly surge of 7.43%; at the same time, the fear and greed index powered by CoinMarketCap 53 denoted neutrality in the market.
Until publishing, Bitcoin was trading at $63,797, with an intraday surge of 0.50%; its market capitalization grew by 8.18%, reaching $1.26 trillion. Since the past 48 hours, BTC price has enjoyed an unprecedented surge, likely boosted by the bulls’ dominance over the bears.
In the 30 days, the highest recorded trading price of Bitcoin was $64804.50, and its lowest traded at $52,598. Sei (SEI) became the intraday gainer’s topper as it reached $0.4604, adding 24.09%, and Sui (SUI) price surged 12.46%, reaching $1.72.
The list of most visited cryptocurrencies includes Bitcoin, Artrade, Ethereum, Wrapped Dog and Dogs, and several others.
