Bitcoin remains stable above $70,000 as spot ETF inflows and outflows impact prices, while the TON ecosystem partners with HashKey Group to enhance services for Asia-Pacific users. JPMorgan suggests a low likelihood of spot ether ETF approval in May, with potential litigation against the SEC if approval is not granted. Bitcoin's rally has slowed, contrasting with gold's continued highs, as analysts anticipate Fed rate cuts due to U.S. debt concerns.
The Ethereum Foundation is facing an inquiry from an unnamed "state authority," while the SEC is reportedly seeking to classify ETH as a security, potentially impacting Ethereum, ETH ETF, and the crypto market as a whole. The scope and focus of the investigation remain unknown, and the SEC has sent investigative subpoenas to U.S. companies. Speculations suggest that a Swiss regulator may be involved, and the SEC's evaluation of Ether ETF applications may be linked to the recent activity.
The Ethereum Foundation has transferred 15,000 ETH to a Kraken deposit address, fueling speculation of a potential price dip. Previous large-scale ETH selloffs by the foundation have been connected to market downturns. However, there are still bullish indicators for ETH, including a reduction in ETH supply on exchanges, an increase in whale accumulation, and an increase in ETH staked since the Shapella upgrade. The foundation has costs to cover, including paying developers and investing in the wider crypto ecosystem. Readers are advised to verify facts independently before making any decisions based on this content.
