Ethereum Lingers Under $3,900: Top 3 Contributing Factors

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Factors include uncertainty in the spot Ethereum ETF launch, high ETF futures open interest, and stagnant Ethereum network usage.

Ethereum has ventured above $3,900 on multiple occasions in the past seven days but has been unable to sustain this level. The market seemingly anticipated a boost from the spot Ethereum exchange-traded fund (ETF) approval by the United States Securities and Exchange Commission (SEC), as Ether’s gains occurred on May 21, two days before the decision.



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