Coinfeeds Daily → 16,604 ETH Reportedly Bought on Binance after SEC dropped the Ethereum 2.0 investigation

16,604 ETH Reportedly Bought on Binance after SEC dropped the Ethereum 2.0 investigation

Published: Jun 20, 2024 | Last Updated: Jun 20, 2024
Howard Kane
Interest in Ethereum
Image: Interest in Ethereum

The SEC's decision on Ethereum 2.0 provides regulatory clarity, leading to a 4.9% price increase and significant whale activity on Binance.

SEC's Decision on Ethereum

The U.S. Securities and Exchange Commission (SEC) recently concluded its investigation into Ethereum 2.0. This decision has significant implications for the cryptocurrency market, providing much-needed regulatory clarity.

Impact on Ethereum's Price

Following the SEC's announcement, Ethereum's price experienced a notable increase of 4.9%. This uptick in price reflects the market's positive response to the regulatory clarity provided by the SEC. Investors and traders now have more confidence in Ethereum's legal standing, which can lead to increased trading activity and investment.

Whale Activity on Binance

In the wake of the SEC's decision, a large investor, often referred to as a "whale," took significant action on the Binance exchange. Over a period of 19 days, this whale purchased and withdrew a total of 16,604 ETH, worth approximately $58.6 million. The most recent purchase was 5,603 ETH, valued at around $19.7 million.

Regulatory Clarity and Market Activity

The whale's substantial investment highlights the positive impact of regulatory clarity on market activity. When regulatory bodies like the SEC provide clear guidelines, it reduces uncertainty and encourages more significant investments. This can lead to increased market stability and growth.


For investors and traders, the SEC's decision on Ethereum underscores the importance of regulatory clarity in the cryptocurrency market. Clear regulations can lead to increased confidence, higher trading volumes, and potentially higher asset prices. Staying informed about regulatory developments can help investors make more informed decisions and capitalize on market opportunities.

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