Ether set for ‘potential tactical breakout’ after SEC kills SAB 121
A crypto analyst says ETH is signaling a potential “low-risk, high-reward opportunity” after the Securities and Exchange Commission killed a controversial accounting rule.
Ether could be set for a “tactical breakout” after the US Securities and Exchange Commission revoked a crypto accounting rule that had made financial firms hesitant to offer crypto services, says a crypto analyst.
“This could be a pivotal moment for Ethereum, as it can potentially drive the expansion of DeFi services, positioning itself as the backbone of the ecosystem,” 10x Research head of research Markus Thielen said in a Jan. 23 markets report.
On Jan. 23, an SEC Staff Accounting Bulletin (SAB) killed a rule called SAB 121 that required financial firms holding crypto to record them as liabilities on their balance sheets.
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Author: Ciaran Lyons
