Ethereum's ETFs and Price Challenges
Ethereum (ETH), the second-largest cryptocurrency, has faced a turbulent period recently. ETFs, or Exchange Traded Funds, were expected to propel Ethereum to new heights by making it more accessible to institutional investors. However, since the launch of these ETFs, Ethereum's price has dropped by 35%, with a notable 15% decline just in the past week. This was unexpected, as many investors hoped Ethereum would soar to $6,000 and beyond. Yet, there is a glimmer of hope with a recent 8.96% price surge, although it's uncertain if this momentum will sustain.
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