The Ethereum neighborhood neatly-known a astronomical gain on Tuesday after Consensys, an Ethereum infrastructure company, acknowledged the U.S. Securities and Replace Rate (SEC) now not intends to ship charges against the firm.

A June 18 letter from the SEC’s division of enforcement notorious they’d concluded their investigation associated to Ethereum 2.0.

“Ethereum survives the SEC,” acknowledged Consensys in a put up on X, calling the advance a “significant gain” for developers, technology services and commerce members.

It comes after Consensys filed a lawsuit against the SEC in April, looking for a court docket elaborate to forestall the regulator’s investigation on the grounds that ether must be regarded as a commodity and  is outside the regulator’s purview.

The SEC’s letter also comes as a response to an inquiry sent by Consensys on June 7, asking the regulator to verify whether the approval of pronounce ether ETFs implied that the company does, in fact, inquire of ether as a commodity and intends to conclude its investigation.

“No company or individual must ranking itself in our space, having to resort to expensive litigation to construct clarity about what’s and is now not honest,” acknowledged Consensys in a press liberate posted to its online page.

Following the tips, onchain blockchain wallet tracker Lookonchain learned that an Ethereum whale equipped 5,603 ETH, worth around $19.6 million on the time. The a associated whale has withdrawn around $59 million worth of ether from Binance since Could presumably moreover 30.

Data from market intelligence platform Santiment appears to be like to point out that market sentiment will be shifting from Bitcoin to Ethereum. Santiment notorious that Bitcoin holders noticed their biggest three-day fall in non-empty wallets on Tuesday, whereas Ethereum wallets were increasing in number.

It is likely that whales will be utilizing unheard of of this recount, with Santiment’s onchain details exhibiting that whales have equipped 50,000 BTC, worth $3.3 billion, between June 5 and June 15, whereas whales have obtained 700,000 ETH. worth $2.5 billion, within the closing three weeks

Issues were heating up on the pronounce ether ETF front as neatly, with Bitwise amending its S-1 submitting, likely incorporating adjustments from the SEC’s first round of feedback. The up up to now submitting also means that mission firm Pantera Capital has expressed an curiosity into shopping for $100 million worth of shares in Bitwise’s ether ETF, must or now not or now not it’s authorised.