Ethereum

Impact

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereums-market-impact-and-regulatory-challenges/" data-wpel-link="internal">Ethereum’s Market Impact and Regulatory Challenges</a><br></p>
<p style="text-align: justify">Ethereum, the largest altcoin by market value, is currently trading above $3200. The SEC continues to delay decisions on ETF applications. A critical decision date for applications by Ark and 21Shares is approaching on May 23.</p> 
<h2 style="text-align: justify" id="expert-opinions-on-ethereum-s-crypto-market">Expert Opinions on Ethereum’s Crypto Market</h2> 
<p style="text-align: justify">Every time the price drops to $3000, buyers step in, but there’s a weakness in targeting higher levels. The lack of demand above $3200 is limiting ETH price increases. Well-known crypto commentator DeFiSurfer808 says Ethereum is weakening compared to <a href="https://en.coin-turk.com/bitcoins-critical-levels-navigating-the-dynamic-cryptocurrency-market/" data-wpel-link="internal">Bitcoin</a> and lacks capital flow for a rally. Moreover, as hopes for an ETF wane, we are not seeing the anticipated demand surge in the first half of 2024.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-343805 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/eth-tahminler.png" alt="" width="804" height="361"></p> 
<p style="text-align: justify">On April 9, Jan van Eck, chief investment officer at VanEck, commented that the expected approval decision would not come soon. After announcing a likely rejection in May, demand for Ether weakened further.</p> 
<p style="text-align: justify">On the other hand, on April 11, Uniswap, one of the largest DeFi platforms on the Ethereum network, received a notice and learned of the SEC’s intent to sue. This targeted attack on the Ethereum Foundation and the opening of a new battlefront in the DeFi space further dampened buyer interest.</p> 
<h2 style="text-align: justify" id="predictions-for-ethereum">Predictions for Ethereum</h2> 
<p style="text-align: justify">The Blockchain Association and the <a href="https://en.coin-turk.com/us-secret-service-completed-the-ama-session-organized-for-crypto-here-are-the-details/" data-wpel-link="internal">Crypto</a> Freedom Alliance of Texas recently filed a lawsuit claiming that the SEC is trying to suffocate the crypto industry. SEC members Uyeda and Peirce echoed this sentiment. Following a defeat in the Debt Box case, the SEC’s disregard for rules and its negative stance towards crypto have been certified, even leading to criticism from within the agency itself.</p> 
<p style="text-align: justify">If we are discussing a new narrative for ETH’s rise, it could be a court decision that corners the SEC, similar to Grayscale’s victory with GBTC. Ongoing lawsuits for <a href="https://en.coin-turk.com/el-salvador-to-open-bitcoin-schools-with-revenue-from-bitcoin-investment/" data-wpel-link="internal">Binance</a> and Coinbase are forcing the SEC to reasonably explain how altcoins are defined as securities.</p> 
<p style="text-align: justify">Perhaps the SEC will face a decision that forces it to step back before the final decision date of May 23. However, well-known crypto ETF experts (Bloomberg Eric and James) expect ETH applications to be rejected, making the $3500 level a challenging barrier to overcome.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereums-market-impact-and-regulatory-challenges/" data-wpel-link="internal">Ethereum’s Market Impact and Regulatory Challenges</a></h5>

Ethereum’s Market Impact and Regulatory Challenges

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