"Alaaa but just a little, I hope that after this I can heal a lot more."
Ethereum (ETH) recovered 5% as the Securities and Exchange Commission (SEC) ended its investigation into the security status of the second largest cryptocurrency plus whale activity boosted positive sentiment among investors.
Immediately after the SEC notified private blockchain software technology firm ConsenSys of its intention to end the investigation, there was a swift-acting whale that acquired 5,603 ETH worth $19.7 million.
As previously disclosed, ConsenSys which contacted the SEC to inquire about the status of its investigation into ETH 2.0 has sought clarification from them as to whether or not the spot approval of the ETH ETF will lead to the conclusion of its ongoing investigation.
In addition to showing an unwavering commitment to seek additional regulatory clarity regarding user interface software, MetaMask Swaps and Staking, ConsenSys in the lawsuit also requests a declaration that the feature does not violate the law under any circumstances.
ConsenSys not only expressed its dissatisfaction with the need for litigation to create the regulatory clarity needed for the crypto industry to grow but also asserted that technological progress and innovation of digital assets depend on the existence of guidelines.
It's true that the SEC has yet to charge ConsenSys with any violations of MetaMask Wallet's swap and staking features in response to the Wells Notice, but the firm expects they may be charged in the coming weeks.
As of this writing, ETH price has surged by 0.32% to $3,550 in the last 24 hours with a market cap of over $434 billion then recorded a 1.02% increase over the past week.