Major positive: SEC decision drives Ethereum price up 4.5%, what's the reason behind it? Will new opportunities come?

(Cut strategy)

Ethereum has risen by about 4.5% in the past 24 hours, reaching $3,550 on June 19. Surprisingly, the main driver of this rise was the decision of the U.S. Securities and Exchange Commission (SEC) to end its investigation into Ethereum. Today's price increase is a response to the SEC's decision to end its investigation into whether Ethereum should be classified as a security

Ethereum developer ConsenSys announced in an article on X on June 19 that the SEC Enforcement Division has ended its investigation into Ethereum 2.0, adding that this is a major victory for Ethereum developers, technology providers, and industry participants.

Bloomberg analyst Eric Balchunas predicts that Ethereum ETF funds will begin trading on July 2. K33 Research also predicts that these investment products will attract $4 billion in inflows in the first five months after launch, indicating that demand for Ethereum will soon be strong.

According to statistics from blockchain data analysis platform Glassnode, on June 18, the total amount of Ethereum held by all cryptocurrency exchanges fell below 12.2 million, reaching the lowest level since July 2016.

Despite having the option, most users have not yet withdrawn their staked Ethereum, indicating that they prefer the stability and returns of staking rather than selling. This indicates that Ethereum prices will show a bullish trend in the coming weeks

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