Ethereum (ETH) resumed its downward trend on Monday after a slight weekend recovery following the launch of the Canada-based Purpose Investment Staked ETH ETF.
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.
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