Crypto Markets Rallied on Wednesday After the SEC Officially Closed Its Investigation into Ethereum 2.0

While Bitcoin is trading relatively flat, Ethereum surged 4%, bringing its monthly gain to 14%. Meanwhile, Polkadot and Solana rallied by 3%.

Crypto markets rallied on Wednesday after markets reacted positively to the SEC officially closing its investigation into sales of ETH being classified as a securities transaction.

Bitcoin remained relatively flat, while ether surged 4%, bringing its monthly gain to 14%. Polkadot and Solana both rallied by 3%.

Several tokens closely tied to Ethereum, such as Lido DAO’s governance token (LDO), Ethereum Name Service (ENS) and Maker (MKR), surged by 12% to 20% in the last 24 hours.

Yield trading protocol Pendle emerged as today’s biggest winner among the top 100 digital assets by market capitalization after a 21% surge.

On June 18, ConsenSys, the blockchain software development company that recently sued the SEC over its attempts to classify ETH as a security, announced that the SEC is ending its investigation into Ethereum.

“The Enforcement Division of the SEC has notified us that it is closing its investigation into sales of ETH being a securities transaction.” ConsenSys posted on X.

Ethereum 2.0 was a term formerly used to describe Ethereum’s transition to a Proof of Stake (PoS) network.

Spot bitcoin exchange-traded funds (ETFs) recorded $152 million of net outflows on Tuesday, continuing a four-day streak of outflows.

According to Farside data, Fidelity’s FBTC led outflows with $83 million, followed by Grayscale’s GBTC with $62 million.

Meanwhile, U.S. stock markets traded slightly higher on Wednesday. The Dow climbed 0.15%, the Nasdaq Composite is flat, and the S&P 500 is up 0.30%.

News source：https://www.kdj.com/cryptocurrencies-news/articles/crypto-markets-rallied-wednesday-officially-closed-investigation-ethereum.html

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