ETC was up 2.22% over 24 hours, while short liquidations reached $10,000 during the same one-hour period.
Prediction market operator Kalshi has publicly stated that the Commodity Futures Trading Commission has made no outreach to the firm. Additionally, the company maintains no formal regulatory examination is currently underway regarding its platform activity.
On September 23, Ethereum experienced a pullback beneath the $2,700 threshold after encountering selling pressure at the $2,800 mark. The cryptocurrency touched a session bottom at $2,648 before finding equilibrium around the $2,670 zone.
ETC rallied 36.5% in less than a week before falling to $8.60, with $7.09 and $9.20 defining the current chart setup.
Ethereum Classic rallied by 36.5% in under a week, before correcting on the charts.
The Bankless co-founder accumulated VVV, NEAR, ZEC, HYPE and LIT in June, with four tokens posting gains of 106% to 293%.
Nearly 1 million similarly sized trades have appeared since August in Kalshi's Ether perpetual contract market, with the CFTC weighing whether to open an investigation.
Ether traded at $2,700.09 after crossing the $2,700 level.
Institutional adoption of Ethereum ETFs highlights a shift towards regulated crypto investments, potentially reshaping traditional asset allocation. BlackRock ETF clients purchase $51M in Ethereum.
BlackRock's ETHA led Sept. 23 inflows with $50.8 million, followed by Fidelity's FETH with $41.3 million.
Ethereum Classic rose from $8.68 to $9.09 by 11:15 p.m. ET on Sept.
The addresses withdrew 31,979 ETH within seven minutes after a market pullback, at an average price of $2,679.31.