Ethereum whales pushes its price up as Hong Kong approves spot ETH ETF

Ethereum's (ETH) price slightly improved on Monday after Hong Kong approved applications for a spot Bitcoin and Ethereum ETF.

Hong Kong has approved applications for a spot Bitcoin and Ethereum ETF. Whales have been accumulating ETH as they view recent crypto market dump as buying opportunity. Ethereum may not post significant gains in coming days despite price recovery. Ethereum 's price slightly improved on Monday after Hong Kong approved applications for a spot Bitcoin and Ethereum ETF. Whales have also been accumulating ETH after the market dip over the weekend.

Some of these withdrawals may have also gone into Ethereum liquid staking and restaking protocols as several of them have recorded impressive increases in the past 24 hours, according to data from DeFiLlama. Also read:Ethereum price recovers slightly as whales begin accumulation spree Technical analysis - ETH may not see a huge price increase Ethereum began the new week with a strong start, showing recovery signs from the general crypto market dump over the weekend.

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