The second largest cryptocurrency by market capitalization managed to make an impressive recovery.
Ethereum reported gains of over 6% for the day, reaching a peak of about $ 240.
This is the highest price of Ethereum in the last two weeks. The last time ETH rose above $ 240 was on June 24th. Since then, bears have dominated the price movement, with the bottom for the month at $ 220.
At the time of writing, the cryptocurrency is trading at almost 10% above this bottom.
The rise in prices came after it was announced that an Ethereum-based investment fund had been approved by the SEC. It will allow investors to buy digital shares in the Arca Treasury Fund in the form of an Ethereum-based token – ArCoin.
A survey of blockchain companies in Europe shows that there is a growing interest in Ethereum. A new report released by LeadBlock Partners suggests that about a third of blockchain startups in the European Union use Ethereum for their projects.
Currently, ETH is more popular among these companies, with only 8% of them using Bitcoin .