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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