Ethereum resumes downtrend as Canada sees another staked ETH ETF launch

Canada-based Purpose Investments announces conversion of its Ethereum Capital Corporation into staked Ethereum ETF. Conversion sees Canada embracing Ethereum staking ahead of US after SEC signals discomfort with concept. Ethereum price's recent downtrend could prove a good buy-the-dip opportunity. Ethereum resumed its downward trend on Monday after a slight weekend recovery following the launch of the Canada-based Purpose Investment Staked ETH ETF.

94 million in the past 24 hours, with long liquidations accounting for $19.11 million and shorts accounting for $11.82 million. Also read:SEC Chair says Ethereum ETF S-1 approvals likely to come over the summer With the potential launch of spot ETH ETFs in a few weeks, several analysts expect the price of ETH to set a new all-time high above $4,878. According to crypto analyst @CryptoJelleNL, ETH turning the $3,500 level into support could prove crucial in ETH's bid to reach the $5,000 mark.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ethereum bulls await ETF approval as BlackRock, Bitwise, Grayscale submit amended ETH ETF filingsEthereum (ETH) is trading sideways on Wednesday as BlackRock, Bitwise and Grayscale submitted their amended 19b-4s filings to the Securities & Exchange Commission (SEC).
Source: FXStreetNews - 🏆 14. / 72 Read more »

Ethereum ETF Approval Could Spur 60% Rally as ETH Buying IncreasesShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Source: CoinDesk - 🏆 291. / 63 Read more »