The SEC Spot Ethereum ETF Regulatory Application Approved The rally in cryptocurrency prices has yet to be stimulated after a morning of declines in Asia and Europe. BTC has fallen over 3.4% in the past 24 hours, trading at around $67,400, while ETH has fallen about 4.5% and is trading at around $3,700. The CoinDesk 20 Index (CD20), which measures the broader digital asset market, is down over 3.3%. The Ethereum ETF is not yet allowed to trade because the SEC needs to approve the S-1 filing before investors can buy it. The approval came as a surprise to many. The SEC appeared to not be engaging much with the Ethereum ETF's issuer after approving a spot Bitcoin ETF in January, but that has changed in the past few days.
Both Bitcoin and Ethereum Experiencing wild volatility ahead of SEC ETF decision On Thursday. ETH fell to $3,500 before surging to $3,900 as first reports of imminent approval of several applications arrived. Meanwhile, BTC dipped below $66,500 before surging to $68,300 before settling just below $68,000. Liquidations of all leveraged crypto derivatives positions exceeded $350 million in a single day, the highest since May 1, according to data from CoinGlass. The bulk of the positions were long bets on rising prices, amounting to about $250 million. This suggests that leveraged traders were caught off guard by the sudden price crash.
Kabosu, the Shiba Inu that inspired the Dogecoin meme and the subsequent DOGE cryptocurrency Died at age 17. DOGE was born in 2013, inspired by a photo of Kabosu, but it started out as a joke currency. DOGE's success later led to the creation of dog-themed tokens such as SHIB and FLOKI, becoming one of the largest sectors in the industry. “We will be holding a farewell party for Kabo-chan on Sunday, May 26th, at Flower Kaori in Narita City Kotsu no Mori from 1pm to 4pm,” her owner wrote in a blog post.
– Shaurya Marwah, Jamie Crowley
