Ethereum’s Surging Accumulation & Hodler Confidence Defy SEC Scrutiny! Here’s What To Expect From ETH Price
Ethereum Ethereum‘s Surging Accumulation & Hodler Confidence Defy SEC Scrutiny! Here’s What To Expect From ETH Price Balita ng Ethereum ng Bitcoin Recently, Ethereum has been engulfed in fear, uncertainty, and doubt (FUD) following the initiation of an investigation by the US government into the ETH foundation. Despite a challenging week that saw Ethereums price dip to $3K, the second-largest cryptocurrency by market capitalization shows strong bullish signs, defying the bearish sentiment and regulatory scrutiny it faces. This is due to several bullish on-chain metrics, supporting the demand for ETH price. Ethereum Flashes Bullish On-Chain Data While Bitcoin (BTC) experienced a decrease in its price to $60,000, it‘s Ethereum’s metrics that have caught the attention of many in the crypto market. Notably, Ethereum saw a massive $720M net inflow into centralized exchanges (CEXs), marking its largest weekly net inflow since September 2022. This influx comes amid regulatory FUD brought by the recent enforcement action. The Ethereum Foundation is reportedly under examination by an unidentified regulatory body. According to Fortune, this investigation is believed to be a component of the U.S. Securities and Exchange Commission (SEC)s assertive legal efforts to categorize Ethereum as a security. However, amid this FUD, Ethereum remains strong as seen in its on-chain data.