Crypto News Today: Ethereum Price Jumps on SEC Probe Clarity

Crypto currency market cap rose 1.10% to $2.51 trillion

• Bitwise updates S-1 for Ethereum ETF with $2.5M seed funding, Pantera Capital interest, and SEC feedback.

• The SEC's enforcement division announced it is concluding its Ethereum investigation, but Consensys indicates the battle continues.

Major Events To Watch

Crypto Fear and Greed Index:

The Crypto Fear and Greed Indicator shows a current score of 64 (Greed), down from yesterday's 74 and last week's 70.

Cryptocurrency saw a surge in the last 24 hours' trading

TOP 5 Gainers Coins

Latest Market Update: 

• #Bitcoin ($BTC) remained below $66,000 on Wednesday, failing to surpass this crucial mark.

• #Ethereum ($ETH), #Dogecoin ($DOGE), #Ripple ($XRP), #Solana ($SOL), and #Litecoin ($LTC) all saw modest gains.

• #Lido DAO ($LDO) token surged the most in 24 hours, with nearly a 20% increase.

• #Toncoin ($TON) experienced the largest decline, with a more than 6% drop over the same period.

• Total crypto market volume in the last 24 hours: $88.49 billion, indicating an 8.23% decrease.

• DeFi volume stands at $6.6 billion, constituting 7.45% of the total crypto market's 24-hour volume.

• Stablecoin volume amounts to $82.51 billion, comprising 93.25% of the total crypto market's 24-hour volume.

• Bitcoin dominance is currently 54.20%, down by 0.59% from the previous day.

Major Worldwide News Update:

• In May, retail sales saw a modest increase, falling short of expectations due to persistent high interest rates and inflationary pressures on consumer spending. Overall retail sales rose by 0.1%, below economists' anticipated growth of 0.3%. April's data, revised by the Commerce Department, showed a slight decrease of 0.2%. Excluding automotive and gasoline sales, retail activity edged up by 0.1%, lower than the predicted 0.4% rise but an improvement from April's 0.3% decline.

• Bitwise updated its S-1 for an Ethereum ETF, revealing a $2.5 million seed investment from an affiliate. Pantera Capital also expressed interest in purchasing up to $100 million of shares. Analysts anticipate SEC approval amid Ethereum price fluctuations, down 1.53% to $3,471, with increased trading volume indicating market anticipation.

• Tether faces renewed scrutiny over alleged terror financing using USDT. Nonprofit Consumers' Research accuses Tether of aiding sanctions evasion, human trafficking, and terrorist funding. A Times Square billboard labels Tether "TetheredToCorruption." Tether denies allegations, claiming full asset backing and collaboration with authorities against illicit stablecoin use.

• Arkham Intelligence offers $150,000 to identify the creator of the DJT token, allegedly linked to Donald Trump but not officially endorsed. Speculations swirl around figures like Martin Shkreli and rumors of Trump's involvement, amid concerns over insider trading and the token's purpose in the Solana ecosystem. Market interest remains volatile.

• Bitget launches ZK token staking on PoolX, offering users rewards on zkSync network tokens. Staking involves up to 4,137,000 ZK tokens with a pool of 413,700 available. Rewards, distributed hourly based on staking volume, aim to boost participation in zkSync's utility and voting system until June 28 amid market recovery efforts.

• The SEC has closed its investigation into Ethereum's status as a security, according to Consensys. This decision follows the SEC's approval of spot ETH ETFs, categorizing Ethereum as a commodity. Consensys views this as a significant victory, stating the SEC won't pursue charges against ETH sales, despite previous subpoenas and legal tensions.

COIN GABBAR Views: Will Ethereum reach $4,000 in June following a 3% surge due to the SEC closing its investigation? What crucial trading levels does BTC need to break for potential new all-time highs? Are bear markets and halving historically linked, and will Bitcoin hit $50K or $100K next? Is now a strategic time to buy BTC as it rebounds from long-term support? To get latest news Stay tuned us at coingabbar

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