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🪙 Saylor predicts SEC will designate Ethereum as a security and deny spot ETF applications this summer MicroStrategy executive chairman and co-founder Michael Saylor believes the SEC will classify Ethereum as a security this summer and reject the related spot ETF applications filed by various asset managers, including BlackRock. Saylor made the prediction in a social media post on May 2 during a presentation at the MicroStrategy World 2024 conference. He further predicted that other cryptos “down the stack” will also gain an unregistered security designation, including BNB, Solana (SOL), XRP, and Cardano (ADA). Source 🔵 @EthereumNews 💰 @BitcoinNews 🍰 @AltcoinNews ⚫️ @TradingNews ⚫️ @MetaverseNews 📊 @StockNews

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🪙 Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024 Ethereum closed Wednesday’s non-fungible token (NFT) sales as the top blockchain in the market, with US$6.87 million, CrptoSlam data shows. The platform witnessed a slight decrease in total transactions to 14,840, compared to 14,987 the previous day, yet it maintained a high level of activity with 4,229 unique buyers and 3,304 unique sellers. In April, Ethereum recorded US$241 million in sales, which is more than half of the US$489 million it had in March, according to CryptoSlam data. Source 🔵 @EthereumNews 💰 @BitcoinNews 🍰 @AltcoinNews ⚫️ @TradingNews ⚫️ @MetaverseNews 📊 @StockNews

🪙 Bitcoin's average daily transaction fees fall back to Ethereum levels after Runes hype subsides Average daily Bitcoin transaction fees have fallen back to the same level as Ethereum after the frenzy of activity surrounding the launch of the Runes protocol died down after the halving. The seven-day moving average of daily Bitcoin transaction fees surged to an all-time high of $25.8 million on April 24, more than five times the daily transaction fees Ethereum was generating at the time. However, it subsequently fell to $4.1 million on Wednesday — the same daily transaction fee average as Ethereum. Source 🔵 @EthereumNews 💰 @BitcoinNews 🍰 @AltcoinNews ⚫️ @TradingNews ⚫️ @MetaverseNews 📊 @StockNews

🪙 ETH ETF Wouldn’t Deliver Full-Returns to Investors ETFs bring awareness but are less effective than private funds as an ETH investment vehicle. With the recent approval, launch and success of spot bitcoin ETFs, all eyes have turned to the possibility of spot ETH ETF regulatory approval, an outcome we believe to be unlikely under the current administration. Additionally, an ETH ETF will, at least initially, lack a staking reward component, a key aspect of ETH total return. Source 🔵 @EthereumNews 💰 @BitcoinNews 🍰 @AltcoinNews ⚫️ @TradingNews ⚫️ @MetaverseNews 📊 @StockNews

🪙 Ethereum Founder Buterin Warns Against Hardware Wallet Use In a statement on X that counters the prevailing wisdom among crypto enthusiasts, Ethereum founder Vitalik Buterin has recently expressed reservations about the reliance on hardware wallets for securing digital assets. Buterin’s commentary emerged during a broader conversation on crypto security, which featured insights from several leading figures from the Ethereum ecosystem. Source 🔵 @EthereumNews 💰 @BitcoinNews 🍰 @AltcoinNews ⚫️ @TradingNews ⚫️ @MetaverseNews 📊 @StockNews

🪙 House's McHenry Accuses SEC Chief Gensler of Misleading Congress on Ethereum U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has been accused of misleading Congress by Rep. Patrick McHenry, the chairman of the House Financial Services Committee, who said Gensler's agency already knew it considered Ethereum's ether a security before he attended a hearing and declined to answer that question. Source 🔵 @EthereumNews 💰 @BitcoinNews 🍰 @AltcoinNews ⚫️ @TradingNews ⚫️ @MetaverseNews 📊 @StockNews

🪙 Ethereum Technical Analysis: ETH's Consolidation Phase Highlights Potential Downward Trajectory Ethereum’s (ETH) price action has shown a downward trend on the 1-hour chart, marked by a series of lower highs and lower lows, signaling continued bearish momentum. This downtrend is mirrored in the 4-hour chart where a recent sharp decline was followed by a modest recovery, only to descend again, indicating strong selling pressure. The daily chart underscores this bearish narrative with a significant downward trend from recent highs near $3,730, further solidified by the recent consolidation, suggesting a weakening momentum in the sell-off. Source 🔵 @EthereumNews 💰 @BitcoinNews 🍰 @AltcoinNews ⚫️ @TradingNews ⚫️ @MetaverseNews 📊 @StockNews

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🇺🇸 SEC suspected Ethereum was a security since 2018, new Consensys documents reveal The Gary Gensler-led Securities and Exchange Commission (SEC) began investigating Ethereum’s security status last year, according to an April 29 court filing by Consensys. The filing disclosed that Gurbir Grewal, the Director of the Division of Enforcement, sanctioned the Formal Order of Investigation concerning ‘Ethereum 2.0’ in March 2023. This Formal Order conferred broader authority upon SEC staff to investigate and subpoena individuals and entities involved in ETH transactions. Source 🔵 @EthereumNews 💰 @BitcoinNews 🍰 @AltcoinNews ⚫️ @TradingNews ⚫️ @MetaverseNews 📊 @StockNews