Originally published on: December 13, 2024
Ether is on track to surpass $5,000, aiming for a new all-time high as analysts foresee a potential rally to over $15,000. This bullish momentum is driven by Ether’s correlation with Bitcoin, which recently crossed $100,000 for the first time.
Analysts predict that Ether’s price could surge above $5,000, with technical chart patterns indicating a positive trend until the end of 2025. Fractal patterns suggest that $5,000 is just a “minimum target” for Ether, according to popular crypto analyst Titan of Crypto.
In other news, Layer-1 blockchain Avalanche secured a massive $250 million in a private locked-token sale from renowned companies like Galaxy Digital, Dragonfly, and ParaFi Capital. This funding comes ahead of the highly anticipated Avalanche9000 network upgrade, expected to be a game-changer for the blockchain network.
Furthermore, Tether’s USDT stablecoin has been recognized by the Abu Dhabi Global Market’s Financial Services Regulatory Authority as an accepted virtual asset. This approval paves the way for licensed financial service providers within the ADGM to offer services related to USDT, promoting its integration into regulated financial ecosystems.
Additionally, the Eigen Foundation announced the allocation of 1% of the EIGEN token supply to the Protocol Guild, a group of core developers responsible for maintaining the Ethereum layer-1 blockchain. This support will further enhance the development and maintenance of the Protocol Guild’s initiatives on Ethereum.
Overall, this week saw fluctuations in the top 100 cryptocurrencies by market capitalization, with Worldcoin and EOS experiencing notable declines. Despite this, the DeFi space continues to innovate and evolve, offering new opportunities for investors and enthusiasts alike.
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