Cautiously look at the ETH privacy narrative｜SEC commissioner discusses zero-knowledge verification｜Around 2681 I’m waiting first
My attitude is to pay attention to the direction, but today I won’t buy ETH because of a single speech. In a speech at the September 23 SIFMA Digital Assets Conference, SEC Commissioner Hester Peirce discussed the costs of the financial system collecting excessive personal data. She proposed using attribute credentials and zero-knowledge proofs to verify facts such as age and identity eligibility—without requiring every institution to store all underlying data. She began by clearly stating that it was her personal viewpoint and does not represent the SEC as a whole. During the speech, she also mentioned a time- and size-limited innovation exemption for certain tokenized securities trading from the previous week. You must distinguish three layers: policy discussion of privacy technology, published exemptions with limited scope, and possible future formal rules—they are not the same thing. This is not “the SEC approving ETH privacy features,” nor is it “the approval of all on-chain stocks on September 23.”
So what does this have to do with Ethereum? The official privacy materials on ethereum.org state that zero-knowledge proofs can be used for selective disclosure and on-chain identity verification, proving eligibility while disclosing less original personal information. If compliant institutions truly adopt such a scheme in the future, it could improve the trade-off between privacy and auditability, and may also spur deployment and trading demand for related applications. However, it could be implemented across many technology stacks. Whether scale, fee attribution, and whether it can propagate into ETH’s value still require product implementation and on-chain data validation. One commissioner’s speech does not mean the application is already live, and it does not mean ETH has received exclusive policy benefits. For traders, I care more about whether formal rules actually emerge, whether there is real deployment, and whether usage continues—not slogans.
The information the market has already provided also does not support chasing aggressively. I just checked KuCoin’s ETH/USDT spot, around $2680.72. The 24-hour high is $2788.25 and the low is $2635.36; the page movement is about -2.61%. The current price is near the middle-lower part of the range, suggesting buy-side demand still needs to prove itself again—but you can’t directly attribute this drawdown to Peirce’s speech. Macroeconomic interest rates, overall risk appetite, and crypto market volatility could all be acting at the same time. I treat $2635 as my short-term breakdown observation level, and $2710 to $2730 as the validation range for regaining strength. If any rebound is only a single upper wick and volume doesn’t keep up, then I won’t take “policy imagination” as confirmation of a breakout.
If I were trading for myself, I wouldn’t participate. Direction is temporarily neutral, with new positions at 0% of total capital. Only if ETH completes two consecutive full 15-minute candlesticks closing above $2730, then retests $2710 to $2730 without breaking it—and there are no new adverse regulatory documents at that time—would I consider going long on spot, using at most 0.4% of total capital, with no leverage. Entry would be based on triggered quotes. First target: halve near $2760. Second target: close the remaining position around $2785 to $2790. After entry, if a 15-minute close goes back below $2700, I would halve the position; if it breaks below $2635, I would stop out everything and close the position. If price first breaks below $2635 and then fails to bounce back, or if later formal regulatory text excludes the relevant technical path, then I would overturn the “try long” thesis and stay in cash. If the plan is not triggered, there will be no trade—hence no profits to review.
Source: SEC commissioner’s September 23 remarks; ethereum.org official privacy and zero-knowledge proof materials; KuCoin public ETH/USDT spot quotes. #ETH
The above is only my personal market observation and does not constitute investment advice.
My attitude is to pay attention to the direction, but today I won’t buy ETH because of a single speech. In a speech at the September 23 SIFMA Digital Assets Conference, SEC Commissioner Hester Peirce discussed the costs of the financial system collecting excessive personal data. She proposed using attribute credentials and zero-knowledge proofs to verify facts such as age and identity eligibility—without requiring every institution to store all underlying data. She began by clearly stating that it was her personal viewpoint and does not represent the SEC as a whole. During the speech, she also mentioned a time- and size-limited innovation exemption for certain tokenized securities trading from the previous week. You must distinguish three layers: policy discussion of privacy technology, published exemptions with limited scope, and possible future formal rules—they are not the same thing. This is not “the SEC approving ETH privacy features,” nor is it “the approval of all on-chain stocks on September 23.”
So what does this have to do with Ethereum? The official privacy materials on ethereum.org state that zero-knowledge proofs can be used for selective disclosure and on-chain identity verification, proving eligibility while disclosing less original personal information. If compliant institutions truly adopt such a scheme in the future, it could improve the trade-off between privacy and auditability, and may also spur deployment and trading demand for related applications. However, it could be implemented across many technology stacks. Whether scale, fee attribution, and whether it can propagate into ETH’s value still require product implementation and on-chain data validation. One commissioner’s speech does not mean the application is already live, and it does not mean ETH has received exclusive policy benefits. For traders, I care more about whether formal rules actually emerge, whether there is real deployment, and whether usage continues—not slogans.
The information the market has already provided also does not support chasing aggressively. I just checked KuCoin’s ETH/USDT spot, around $2680.72. The 24-hour high is $2788.25 and the low is $2635.36; the page movement is about -2.61%. The current price is near the middle-lower part of the range, suggesting buy-side demand still needs to prove itself again—but you can’t directly attribute this drawdown to Peirce’s speech. Macroeconomic interest rates, overall risk appetite, and crypto market volatility could all be acting at the same time. I treat $2635 as my short-term breakdown observation level, and $2710 to $2730 as the validation range for regaining strength. If any rebound is only a single upper wick and volume doesn’t keep up, then I won’t take “policy imagination” as confirmation of a breakout.
If I were trading for myself, I wouldn’t participate. Direction is temporarily neutral, with new positions at 0% of total capital. Only if ETH completes two consecutive full 15-minute candlesticks closing above $2730, then retests $2710 to $2730 without breaking it—and there are no new adverse regulatory documents at that time—would I consider going long on spot, using at most 0.4% of total capital, with no leverage. Entry would be based on triggered quotes. First target: halve near $2760. Second target: close the remaining position around $2785 to $2790. After entry, if a 15-minute close goes back below $2700, I would halve the position; if it breaks below $2635, I would stop out everything and close the position. If price first breaks below $2635 and then fails to bounce back, or if later formal regulatory text excludes the relevant technical path, then I would overturn the “try long” thesis and stay in cash. If the plan is not triggered, there will be no trade—hence no profits to review.
Source: SEC commissioner’s September 23 remarks; ethereum.org official privacy and zero-knowledge proof materials; KuCoin public ETH/USDT spot quotes. #ETH
The above is only my personal market observation and does not constitute investment advice.
