Last week, after the Turkey Central Bank announced that crypto payments will become illegal beginning on April 30th, crypto prices started crashing, and many coins saw considerable losses.
Ethereum ETFs launching in Canada
Canada has become a North American haven for crypto ETFs. Three Bitcoin ETFs emerged in the country over the last few months, and now, there are also three Ethereum ETFs that joined them. The ETFs started trading yesterday, April 20th, causing ETH price to start a rapid recovery.
Another development that potentially contributed to the recovery is the fact that WeWork, a global real estate service provider, started accepting ETH and BTC payments. Lastly, Ethereum GeneSys Foundation recently completed a new hard fork to reclaim staked ETH 2.0 coins, in order to incentivize the PoW miners.
Ethereum price recovers from a weekend drop
Over this last weekend, the Ethereum price crashed soon after reaching a new ATH. The ATH was reached on April 16th, when ETH surged to $2,550. But, by April 18th, the coin price dropped to $2,043. The coin then started recovering, even going as high up as to reach $2,280 on Monday, before dropping to $2,052 again yesterday.
Then a new surge pushed it up to $2,300, where it sits at the time of writing.
The recent events allowed Ethereum to take the lead and become more bullish than Bitcoin, and it will be interesting to see whether it can reach its former ATH again before the week’s end.
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