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Investors mistook Ethereum for shares in the furniture firm Ethan Allen, causing the latter’s price to increase by more than 50% compared to 2020. The business did not even regard cryptocurrencies as a payment method.

ETH was listed on the stock exchange earlier than even its founder had expected. The network started aggressively disseminating information about the New York Stock Exchange’s involvement in ETH. However, it was about a corporation that had been in business for about 90 years. Yes, Ethereum is one of the most trusted assets in the cryptocurrency industry. However, it is far from ancient.

The identical ticker was the source of the problem. But for the purchasers of “pseudo-ETH,” no one understands why people were not perplexed by the difference in the price of an asset. On the NYSE, ETH is now worth $29.92, while one of the top crypto assets is trading at $3,470 on Binance. Yes, the difference is important. Furthermore, according to the head of the StockTwits website, which tracks markets, the stock exchange has not seen a 56 percent increase in ETH shares in a month in the last 5 years.

The community reacted positively to the news, with some joking that “Ethereum has never been so easy” and that “to get to the moon, you must first sit.” Although the mockery was often pointless, the commentators were correct about one thing. If a retail investor has enough similar tickers to invest in an asset mindlessly, maybe he shouldn’t trade at all.

ETH was listed on the stock exchange earlier than even its founder had expected. The network started aggressively disseminating information about the New York Stock Exchange’s involvement in ETH. However, it was about a corporation that had been in business for about 90 years. Yes, Ethereum is one of the most trusted assets in the cryptocurrency industry. However, it is far from ancient.

The identical ticker was the source of the problem. But for the purchasers of “pseudo-ETH,” no one understands why people were not perplexed by the difference in the price of an asset. On the NYSE, ETH is now worth $29.92, while one of the top crypto assets is trading at $3,470 on Binance. Yes, the difference is important. Furthermore, according to the head of the StockTwits website, which tracks markets, the stock exchange has not seen a 56 percent increase in ETH shares in a month in the last 5 years.

The community reacted positively to the news, with some joking that “Ethereum has never been so easy” and that “to get to the moon, you must first sit.” Although the mockery was often pointless, the commentators were correct about one thing. If a retail investor has enough similar tickers to invest in an asset mindlessly, maybe he shouldn’t trade at all.

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