Why is the Ethereum price under more pressure after Gensler comments?

Why is the Ethereum price under more pressure after Gensler comments?

Ethereum has finally made its long-awaited transition to Proof-of-Stake (PoS), a move that was met with great anticipation by the crypto community. However, the asset's price action has not been

The Ethereum Merge is the result of a hard fork that occurred on the Ethereum blockchain. The fork was necessary in order to upgrade the Ethereum network to a new version, which is incompatible with the old version

Ethereum's transition to a proof-of-stake (PoS) consensus mechanism has caught the attention of the U.S. Securities and Exchange Commission (SEC), according to a report

According to Gensler's speech on Thursday, tokens that require investors to stake them in order to earn yields are likely to be regarded as securities. This modus operandi fits a business model common with assets under securities laws, which Ether falls under. Gensler notes that this means that these digital assets are subject to greater regulation, including the

In exchange for committing assets and validating blocks, stakers are typically rewarded with a share of the block rewards. When it comes to staking a crypto asset, one is essentially depositing a portion of their assets into a pool in order to contribute to the security

It's no secret that the Securities and Exchange Commission (SEC) has been keeping a close eye on digital assets for some time now. In fact, earlier this year the SEC even went so far as to say that Bitcoin and Ether are not securities. However

It is important to note that these reports came at a time when Ether, like Bitcoin, was still using mining for block validation. Gensler reiterated that Bitcoin remains exempt from the SEC's regulatory policies, as it is not a security. However, the 64-year-old

The recent comments by Gary Gensler, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), regarding Ether and other digital assets have caused Ether's price to drop significantly. Gensler

A few hours after The Merge, Ether (ETH) got knocked off the support at $1,600. Following the drop below $1,600, Ether (ETH) plummeted beneath the next major support at $1,500 the following day. Ether's abysmal

Gensler's comments have caused a great deal of fear and uncertainty within the Ethereum community, as many proponents worry that the SEC will take legal action against Ethereum in a similar manner to Ripple's current legal battle. With the crypto market generally not performing well, Ethereum has seen a 17.5% decrease in value over the

Ethereum's long-awaited shift to a proof-of-stake (PoS) consensus model finally took place yesterday, but not without a few hiccups along the way. The highly anticipated

Per data from the dashboard, it appears that up to 45.15% of the nodes on the Ethereum PoS network are attributed to just two addresses. This raises centralization concerns among some proponents, who have made unconfirmed claims that these addresses belong to the Ethereum Foundation

It's no secret that Ether (ETH) has been on a bit of a roller coaster ride lately. After hitting an all-time high of over $1,400 just a few weeks ago, the popular cryptocurrency has seen a sharp decline, falling below $1,500 and currently trading at

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