Bitcoin

Ethereum

The leading cryptocurrency Bitcoin’s (BTC) recent price rally has <a href="https://www.bnnbloomberg.ca/ether-s-hazy-status-at-the-sec-leaves-the-token-far-behind-the-rally-in-bitcoin-1.1937766" rel="noopener noreferrer nofollow">reportedly</a> left the decentralized blockchain Ethereum’s native Ether (ETH) token lagging behind. Owing to the Securities and Exchange Commission’s (SEC) categorization of digital assets including Ether as unregistered securities, coupled with regulatory uncertainty in the United States, experts opined that BTC’s commodity status allowed it to outperform Ether.As per the SEC, a total of 19 coins have <a href="https://www.bloomberg.com/news/articles/2023-06-13/these-are-the-19-cryptocurrencies-are-securities-the-sec-says" rel="noopener noreferrer nofollow">qualified</a> as unregistered securities in the Binance Holdings Ltd. and Coinbase Global Inc. crypto exchanges lawsuits. The legal proceedings have been reported to have plummeted the prices of some of those tokens by over 20% since June 5.While the second-largest crypto coin Ether’s price has remained stagnant during the period in question, that of Bitcoin has soared over 14%. Investors’ preference for Bitcoin seemingly stems from the regulatory risk surrounding Ether. The inflow of funds emanated from the leading investment fund manager BlackRock’s BTC exchange-traded funds (ETF) boosting fresh demand sources.Regardless, Ether is still up over 60% in 2023. At press time, <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">Ether</a>is trading at $1,899.45, while <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>is priced at $30,451.62, as per CoinMarketCap. David Lawant, digital-asset trading platform FalconX’s head of research, asserted that the rationale used by the SEC in its lawsuits is unknown, adding that the exclusion of Ether from the lawsuit doesn&#39;t mean that the cryptocurrency is not a security.Read full article at <a href="https://cryptotale.org/ethers-regulatory-uncertainty-damages-its-performance-against-bitcoins-rally/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Ether’s Regulatory Uncertainty Damages its Performance Against Bitcoin’s Rally

CryptoTale

Other articles published on Jun 26, 2023

708M Shiba Inu Burnt In a Week, Here Are Top Weekly Burners

Shiba Inu’s Price Skyrockets as Shibarium Unveils Exciting Ecosystem Updates

Bitcoin (BTC), Ethereum (ETH) in Red as Momentum Stalls

Shanghai Clearing House adds support for digital yuan in commodity trading

Aurora Labs Unveils Fast Rainbow Bridge, Enabling Seamless Token Transfers Between NEAR and Ether...

Over $83M Liquidity Unlocked this Week in Digital Tokens

Join our free newsletter for daily crypto updates!