Ethereum, the second-largest cryptocurrency, has seen a 6% increase in price over the past day. It’s currently trading at $3,320 on major exchanges, according to CoinGecko data. Bitcoin’s dominance is hovering just above the 50% mark. The ETH/BTC pair is now at 0.051 BTC after reaching a peak of 0.052 BTC earlier today. In two weeks, the pair has gained nearly 13%. However, it’s still 15% below its 2024 high of 0.061 BTC, which was reached on Jan. 12.
Ethereum, the second largest cryptocurrency, has experienced a significant increase in value over the last 24 hours, rising by over 6%.
As a researcher, I’d say: Based on the information from CoinGecko, the current price of Ethereum (ETH) on prominent spot exchanges stands at $3,320.
Bitcoin‘s dominance is currently sitting slightly above the 50% level.
As a researcher studying the cryptocurrency market, I’ve noticed that the current exchange rate for Ethereum against Bitcoin (ETH/BTC) is around 0.051 BTC, having peaked at 0.052 BTC earlier today. Over the past two weeks, this pair has experienced a significant surge of approximately 13%. Nevertheless, it’s essential to acknowledge that the ETH/BTC pair remains 15% below its 2024 peak, which was attained on January 12th, at 0.061 BTC.
A major resistance level
Based on the information from the 100eyes Crypto Scanner report, the second largest cryptocurrency is currently nearing a significant horizontal resistance point at around $3,300.
On April 24, the leading altcoin nearly broke through its notable resistance point. Yet, this endeavor led to a substantial price decline instead.
Major headwinds
Despite the ongoing legal dispute between Ethereum’s major supporter Consensys and the US Securities and Exchange Commission (SEC), which was signaled by a Wells notice, Ethereum’s price managed to bounce back.
The Securities and Exchange Commission (SEC) intends to broaden its regulatory scope by designating the leading altcoin as an investment security, according to the accusation made by the firm.
As a researcher, I can share that ConsenSys, a well-known blockchain technology company, has brought on board some skilled lawyers from the esteemed Manhattan law firm, Watchell. This move signals that an anticipated legal dispute may be unfolding within our industry.
Additionally, there is a possibility that Grayscale may file a lawsuit against the SEC for rejecting several proposed Ethereum spot ETFs in May.
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2024-04-28 11:19