Ethereum Touches $800 mark, Regulators to meet on 7th to discuss whether it’s a security
Ethereum touched the $800 mark today which is the highest in quite a while which is an increase of over 19% in a week.
Image Source: Coinmarketcap
Ethereum went as low as $380 in April but has significantly picked back up by over 100% in the course of a month. At the beginning of May Ethereum started off below $650.
At the time of writing this article, the total market cap of Ethereum stands over $79 Billion and the price at around $800 and the trading volume has crossed $4 Billion.
Earlier this week the co-founder of Reddit Alexis Ohanian(who now works as a full-time VC) told Fortune that Ethereum will reach $1500 (Which was revised from his $15000 prediction).
The CEO of DeVere Group(World’s largest independent financial service organization) Nigel Green predicted that Ethereum price could reach $2500.
On 7th of May, the regulatory bodies SEC and CFTC are meeting to discuss whether cryptocurrencies such as Ethereum and Ripple are securities. But Joseph Lubin who is the co-founder of Ethereum told TheStreet this week that Ethereum is never meant to be a security,
“We spent a tremendous amount of time with lawyers in the U.S. and in other countries, and are extremely comfortable that it is not a security; it never was a security”
Gary Gensler, a former Commodities Futures Trading Commission (CFTC) chairman, said that
“there is a strong case that one or both of [Ethereum and Ripple] are noncompliant securities.”
inb4 SEC rules $ETH a security on May 7th and we get a $400 down candle
— #33kByJuly3018Moku //not_giving_away_ETH\ (@CarpeNoctom) May 3, 2018
We will be updating on our website about the meet on 7th, Stay tuned.
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.