- Ethereum developers behind the ETH Proof-of-Work project have proposed the formation of an all-in-one ecosystem DAO.
- US Securities and Exchange Commission Chair Gary Gensler recently implied that Proof-of-Stake projects like Ethereum should be regulated as securities.
- Amidst the recent crackdown by regulators, ETHW could gain relevance and market share, fueling a rally in the token.
US Securities and Exchange Commission Gary Gensler recently reiterated that Proof-of-Stake cryptocurrencies like Ethereum may be securities. These statements from regulators have fueled an uncertainty among crypto market participants.
Also read: Ethereum layer-2 Arbitrum’s most awaited airdrop of 2023 is expected on March 23
SEC chair Gensler reiterates Proof-of-Stake cryptocurrencies may be securities
The Securities and Exchange Commission Gensler commented on intensified scrutiny of Proof-of-Stake (PoS) cryptocurrencies. Gensler reiterated that PoS tokens like Ethereum may be securities as these coins are promoted by creators, offering returns.
Gensler said during an open meeting of the SEC on Wednesday,
I would suggest that each of these token operators, obviously consulting with the appropriate talent, seek to come into compliance.
Will Ethereum Proof-of-Work gain higher market share with uncertainty surrounding PoS?
Developers behind Ethereum Proof-of-Work (PoW) recently shared a proposal for the formation of an All-In-One Ecosystem DAO- EthereumPoW one.
Since the inception of the PoW project, NFTs and DeFi protocols have emerged in the ecosystem. Through these projects, PoW developers witnessed potential in the EthereumPoW ecosystem.
Proposal: EthereumPoW One — An All-in-One Ecosystem DAO
— EthereumPoW (ETHW) Official (@EthereumPoW) March 17, 2023
Since the inception of EthereumPoW, some excellent NFT projects have emerged in the EthereumPoW ecosystem. Through these projects, we have witnessed the enormous potential of EthereumPoW. Nevertheless, the overall… https://t.co/ok3a1HIHRP pic.twitter.com/wWtNmXliNA
To encourage developers, projects and investors to participate in developing the EthereumPoW ecosystem, the team behind ETHW proposed the establishment of the DAO.
ETHW yields 4% gains since March 16
Ethereum Proof-of-Work token ETHW is gaining relevance and popularity in the crypto community. The token offered 4% gains since March 16, and ETHW climbed nearly 11% over the past week.
US regulator’s stance on PoS tokens and Ethereum is one of the drivers of rising market share and demand for ETHW.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
XRP eyes $0.7400 as investors continue holding onto profits
Ripple's XRP is trading near $0.6200, following $3.98 million in futures liquidations in the past 24 hours. Liquidated long and short positions accounted for $2.95 million and $1.03 million, respectively. Over the weekend, XRP broke above its 200-day Simple Moving Average and the upper resistance of a key descending channel.
How high can Bitcoin go? Prediction markets suggest $100K
Bitcoin is consistently setting new record highs on Monday after breaking above $89K. The continued uptrend has led asset managers like Bernstein to urge investors to consider adding Bitcoin exposure to their portfolios. Meanwhile, prediction market participants speculate that Bitcoin could reach $100K by the end of 2024.
Ethereum Price Forecast: Could ETH see new all-time high after 30% rise and record ETF inflows?
Ethereum is up nearly 3% on Monday as it tackles the resistance near $3,300 for the first time since July. After soaring nearly 30% in the past week and seeing record ETH exchange-traded funds inflows and open interest growth, the altcoin could continue its bullish momentum and aim for a new all-time high.
Crypto Today: BTC at $85K, Solana hits $100B valuation, FTX sues CZ, Blackrock sets new record
On Monday, Solana’s market capitalization crossed the $100 billion milestone as the steady memecoin demand drove the native SOL coin price above $220 for the first time since April 2024. BlackRock's iShares Bitcoin Trust surpassed the iShares Gold Trust in assets under management.
Bitcoin: Further upside likely after hitting new all-time high
Bitcoin hit a fresh high of $76,849 on Thursday as crypto-friendly candidate Donald Trump won the US presidential election. Institutional demand returned with the highest single-day inflow on Thursday since the ETFs’ launch in January.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.