Ethereum: Hong Kong spot ETFs fail to impress, what next for ETH?

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World's second-largest cryptocurrency Ethereum trended lower since the listing of first-ever crypto spot ETFs in Hong Kong.

, ETH rose to $3,250 shortly before the funds started trading on the Hong Kong Stock Exchange – the city’s bourse.

However, the stiff resistance pushed the digital currency back, causing it to fall to $3,020 as of this writing, a 3.2% drop in the 24-hour period.As many as 2.43 million addresses had acquired 5.14 million ETH at this level. Hence, overcoming this “brick wall” was critical for a sustained rally.spot ETFs, debuted in Hong Kong, a city which has been vying to project itself as the next crypto hub.data, as trading volumes failed to pick up.

 

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