After putting the high 2333.11 and the low 2215.03, ETH/USD closed at 2333.11. During Friday’s trading session, Ethereum started losing its balance and posted losses that extended to the next day but on Sunday, ETH/USD pulled back and recovered most of its previous day losses.
Earlier this week, three Ethereum exchange-traded funds were approved by Canadian regulators and a number of days after the launch, over $138 million in trade volumes were reported. Ethereum ETFs’ impressive score added strength in prices over the weekend.
In addition, the data from Messari, the crypto-data and knowledge online database, indicated that by the end of the year Ethereum could cross up to six trillion dollars in transactions. The network settled approximately $1.5 billion in transactions in the first quarter of 2021. The report also contributed to the price rise on Sunday of the second largest traded cryptocurrency.
For the first time since early March, the recent decrease in BITCOIN has brought pressure on the entire market for crphotocurrency below the $50,000 stage. Fears of a big 50 percent correction sent Bitcoin below the $50,000 level that kept the ETH/USD prices under pressure. US tax rate increase recently proposed