Ethereum

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-seize-ethereum-price-drop-for-significant-accumulation/" data-wpel-link="internal">Investors Seize Ethereum Price Drop for Significant Accumulation</a><br></p>
<p class="p1" style="text-align: justify"><strong>Ethereum</strong> experienced one of its biggest days in long-term asset accumulation; it seems investors took advantage of a 2% price drop within 24 hours. CryptoQuant research head Julio Moreno revealed on June 13 via X that Ethereum demand increased and <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">long-term investors</a> made the second-highest purchase yesterday.</p> 
<h2 class="p1" style="text-align: justify" id="a-noteworthy-day-for-ethereum">A Noteworthy Day for Ethereum</h2> 
<p class="p1" style="text-align: justify"><strong>Moreno</strong> highlighted in the post that on June 12, accumulation addresses acquired 298,000 Ethereum within a 24-hour period, roughly equivalent to $1.34 billion at the time of writing. The amount acquired is only 6% lower than the record set on September 11, 2023, when long-term holders bought 317,000 Ethereum as the price fell below $1,600.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-362327" src="https://coin-turk.com/wp-content/uploads/2024/06/julio.webp" alt="" width="500" height="481"></p> 
<p class="p1" style="text-align: justify">The increase in demand came after Ethereum’s 8.49% price drop over the past seven days. According to CoinMarketCap data, it initially fell below $3,800 on June 8 and failed to recover but remained above $3,400 during the period. At the time of writing, Ethereum was trading at $3,518.</p> 
<p class="p1" style="text-align: justify">Additionally, Ethereum experienced a similar drop below $3,500 on April 11, leading to a 25% decline to $2,814 by May 2. Moreno suggested that this might not be the end of the negative trend.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-362326 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/eth-1.webp" alt="" width="1410" height="836"></p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-etf-front">What’s Happening on the ETF Front?</h2> 
<p class="p1" style="text-align: justify">Meanwhile, the United States Securities and Exchange Commission <strong>(SEC)</strong> chairman hinted that spot Ethereum exchange-traded funds might receive final approval for trading before the end of September. On June 13, SEC Chairman Gary Gensler informed lawmakers during a Senate Banking Committee hearing that the regulator might sign off on the final approvals for listing and trading spot Ethereum ETF shares within three months.</p> 
<p class="p1" style="text-align: justify">On May 23, the SEC granted preliminary regulatory approval for spot Ethereum ETF funds in the US by approving the 19b-4 applications of eight applicants. The trading process can only begin after the S-1 registration statement is approved. Following this process, <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">significant developments</a> and a bullish momentum might arise in the <a href="https://en.coin-turk.com/planb-predicts-a-bullish-bitcoin-market/" data-wpel-link="internal">cryptocurrency market</a>, especially for Ethereum.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/investors-seize-ethereum-price-drop-for-significant-accumulation/" data-wpel-link="internal">Investors Seize Ethereum Price Drop for Significant Accumulation</a></h5>

Investors Seize Ethereum Price Drop for Significant Accumulation

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