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Thursday

13 May 2021

Ethereum Hits Record Price as Potential Supply Crunch Looms - Decrypt

Ethereum Hits Record Price as Potential Supply Crunch Looms - Decrypt


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Last week, the first Ethereum ETFs began trading in Canada.

What’s more, an upcoming change to the Ethereum network that will effectively reduce the supply of ETH has holders feeling bullish.

Ethereum (ETH) started the week trading at around $2,400, having fallen by around $200 since hitting an all-time high price of $2,646 last week.

For example, theChinese app company Meiturecently announced a purchase of roughly $50 million worth of ETH.And, in Canada,three Ethereum ETFs—launched by Purpose Investments, Evolve ETFs, and CI Global Asset Management—began trading last week.

The Ethereum ETFs got off to an impressive start last week in the Great White North: the funds collectively generated more than $138 million in trading volume within the first three days.

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