Celsius moves $125M in Ethereum amid financial struggles

Celsius, a well-known cryptocurrency lending platform, has recently transferred $125 million worth of Ethereum (ETH) to major exchanges. This move follows the company's declaration of bankruptcy last week, highlighting a significant shift in its strategy towards liquidating assets.

Timeline of Celsius, Ethereum

Ethereum, the world's second-largest cryptocurrency, has recently experienced a remarkable surge in value, outshining Bitcoin with a 14% price increase in just two weeks. This surge has taken Ethereum above a crucial psychological barrier, surpassing $2,600 for the first time since May 2022.

In a recent report by TD Cowen, a prominent American multinational investment bank, it has been projected that the U.S. Securities and Exchange Commission (SEC) will unlikely approve an Ethereum Exchange-Traded Fund (ETF) anytime soon.

Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), says the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) this week doesn't impact the potential greenlighting of other crypto financial products.

The journey toward approving an Ethereum ETF stands on shaky ground when compared to the recent launch of Bitcoin ETF. While the BTC ETF launch took nearly a debate and a few lawsuits, SEC Chair Gary Gensler never called Bitcoin anything other than a commodity.

A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a Solana-based memecoin. The analyst pseudonymously known as Bluntz tells his 236,100 followers on the X social media platform that the dogwifhat (WIF) memecoin could potentially appreciate by approximately 359% from the current level.

Ethereum (ETH) experienced a 20% surge this week, reaching a 620-day high. The crypto community is uncertain about whether ETH can sustain this momentum to reach $3,000 or if a market correction is imminent.

Larry Fink is the CEO of the world's largest asset manager, BlackRock Inc. (NYSE: BLK). The finance titan is diving deeper into cryptocurrencies, first through Bitcoin (BTC) and now turning its eyes to Ethereum (ETH).

Ethereum continues to assert its dominance, proving to investors and enthusiasts why it reigns supreme among altcoins. The recent price action of Ethereum paints a bullish narrative, with potential signals pointing toward an ongoing growth cycle that could redefine its market stature.

The Ethereum markets rallied significantly during the session on Thursday, as we continue to see a lot of buyer pressure. The entire crypto market seems to be on the precipice of a bigger move as well.

In an Ask-Me-Anything (AMA) session held on Reddit, Ethereum co-founder Vitalik Buterin advocated for a 33% increase in the Ethereum gas limit to enhance network throughput. Buterin's proposal comes after nearly three years of the gas limit remaining unchanged, marking the longest period of stability in the protocol's history.