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Ethereum primed to stay above key support amid possible rumored ETH ETF denial

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Ethereum (ETH) is indicating signs of a bearish move on Tuesday as it is largely trading horizontally.

Ethereum co-founder Vitalik Buterin proposed a new type of gas fee for calldata in the latest EIP-7706. Calldata gas would help reduce fees for certain types of transactions and improve the user experience. The odds for the SEC to deny spot ETH ETFs have increased, says Bloomberg analyst James Seyffart. Ethereum is indicating signs of a bearish move on Tuesday as it is largely trading horizontally.

the SEC asked commenters re the Eth spot ETFs whether these filers have properly filed their ETF listing proposals as commodities. This shows the SEC is perhaps considering to Eth is a security in their denial. Our odds of approval remain the same: slim to none. Nice job of… https://t.

 

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