What comes after spot Ether ETF approvals? Execs weigh in
Consensys director of global regulatory matters Bill Hughes interpreted the approval as an admission that Ether is a commodity.
Loading
Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.
Consensys director of global regulatory matters Bill Hughes interpreted the approval as an admission that Ether is a commodity.
Key Takeaways: In an important development in commitment towards blockchain infrastructure expansion, BTCS Inc. broadened its ETH holding with the purchase of 3,450 ETH worth about $8.42 million. Bought at an average price per ETH of $2,441, the purchase brings the firm’s overall ETH holding to about 12,500 units through the middle of May 2025, […]
Over $35 billion entered the crypto market in just three weeks. This shows signs of bullish momentum.
Ethereum validators are now one step away from being able to unstake their Ether from the Beacon Chain
Ethereum crumbled with the market during the last crash and is yet to recover to previous levels. The crash was characterized by sell-offs and liquidations from all angles, which continued even when the price dumped further. Fear of a bear market sparked this as investors wanted to get out before the price fell further. But not everyone followed this trend of dumping. Whales have always been known to move differently from smaller investors when it comes to the crypto market and this time was no different. While investors panic sold their holdings at low prices, these whales quietly gobbled up the ETH being dumped on the market, increasing their dominance in the market once again. Whales Fill Up On ETH In the last few weeks, whales have taken advantage of the declining market values to buy cryptocurrencies at what can be essentially said to be a discount. The price of Ethereum had dumped as low as $2,100 following the crash, leaving even more room for the whales to increase their holdings. Smaller investors had followed suit but only after whales had bought hundreds of millions of dollars worth of ETH. Related Reading | Bitcoin Whales Take Advantage Of Market Crash To Gobble Up Millions In BTC During this time, the number of addresses holding more than 10,000 ETH on their balances had also increased significantly. These whales had altogether purchased more than $500 million in ETH in only a couple of weeks. ETH recovers to $2,400 post-crash | Source: ETHUSD on TradingView.com This renewed support from whales and smaller investors had worked to slow down the decline of the digital asset. But proved to be not enough to spark a rebound back up to previous values. Despite growing support from these large investors, the market has remained in extreme fear, pointing to intense wariness from investors. This has caused them to hold back from putting any more money in the market. Ethereum Struggles To Stay Afloat Since the crash towards the low $2,100, Ethereum has had a hard time recovering in the market. While a bounce-back that was triggered by pioneer cryptocurrency bitcoin saw it recover above $2,400, it has not recorded much in the way of upward momentum since then. Related Reading | Which Cryptocurrencies Suffered The Worse Collapse Since All-Time Highs? Indicators point to the week playing out with continued low momentum for the second-largest cryptocurrency by market cap. It had previously tested the $2,700 point on Wednesday but had promptly taken a beating down that brought it back to $2,400. ETH is trading below its 5-day, 20-day, 100-day, and 200-day moving averages for the first time in a year. Market sentiments remain bearish with more downtrend expected to come as support from whales taper off. As of the time of writing, the digital asset is trading at $2,461, down 2.97% in the last 24 hours. Trading volume is up significantly over the same time period but is yet to translate into a higher value for the asset. Featured image from Nairametrics, chart from TradingView.com
Investing in Ethereum seems to be top of mind for prominent members of the finance community. The increasing use cases of the Ethereum network have brought some significant names into its camp. The latest on the list though is venture Capitalist Bill Gurley. Gurley is a general partner at Benchmark, which is a Silicon Valley venture capital firm that is based in Menlo Park, California. Gurley has been listed consistently on the Forbes Midas List, while simultaneously being considered one of the technology’s top dealmakers. Related Reading | You Can Now Use Your .COM Domain As An Ethereum Wallet Thanks To This Integration Gurley’s latest investment interest now happens to be Ethereum. The venture capitalist revealed that he had taken a personal interest in Ether, thus leading to him taking a personal position in the digital asset, which he now owns. Gurley Swayed By Ethereum Community Venture capitalist Bill Gurley explained why he had taken a position in Ethereum. Gurley said that he had been swayed by arguments being made for ETH, thus prom timing him to take a personal position in the asset. “I have to say I was swayed by the arguments of the Ethereum crowd,” Gurley revealed. “And so, I’ve taken a personal position.” Related Reading | Ex-Goldman Exec And Real Vision Founder Puts Ethereum Value At $20,000 By March 2022 Another important point for Gurley is the commitment of the Ethereum team to the project and its community. “The party that’s involved seems to be way more pragmatic,” said Gurley. “ They seem to be more open to changes and are basically making several changes which I think will bring down fees and will be very beneficial. The developer community is clearly in the Ethereum cam.” Gurley also explained that he was not making an argument for everyone being involved in crypto. Neither did his current investments make him a maximalist in any way. ETH price breaks three-month high | Source: ETHUSD on TradingView.com “I think there’s a ESG (environmental, social, and governance) benefit once they move to proof of stake versus bitcoin. It seems to me to be the smarter way to play if you’re going to have crypto exposure.” Gurley clarified that his investment in Ether was a personal one and that it had nothing to do with his venture firm. Furthermore, Gurley did not disclose how much he had bought in ETH. Only that he had taken a personal position in the asset. Robinhood Is More Like A Casino Bill Gurley had some comments about Robinhood’s recent reveal. The trading company had revealed earlier that more than half of revenue had come from crypto trading. With 62% of its entire crypto trading revenue coming from the meme coin Dogecoin alone. The venture capitalist stressed that Robinhood’s current business model was not a sound one. He likened the business model of Robinhood to that of a casino rather than an investment platform. Related Reading | Deloitte Survey Shows 76% Of Finance Execs Think Physical Money Is Nearing Its End It is not clear how much Robinhood plans to focus on crypto trading on the platform. While investors can also invest in coins like Bitcoin and Ethereum on the platform, most favor investing in Dogecoin. This has led to massive growth for Robinhood. But the sustainability of this business model remains to be seen. Featured image from Nasdaq, chart from TradingView.com
World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.
FREE CRYPTO COINS
AVAILABLE FOR RESERVATION
ALREADY ALLOCATED
No fees. No catch. Your crypto journey starts here.