Ether is bracing for a rise above $5,000, which crypto analysts have set as a “minimum target,” with the world’s second-largest cryptocurrency expected to hit a cycle high above $15,000.
In the broader cryptocurrency space, Avalanche closed a $250 million privately held token sale from more than 40 companies, ahead of Avalanche9000. This is said to be the most significant upgrade in the history of layer 1 blockchain networks.
$5,000 in Ethereum for Fractals, BlackRock ETH ETF holdings double with $500 million purchase
Based on technical chart patterns, Ethereum could rise above $5,000 as analysts predict that its bullish momentum could continue until the end of 2025.
The price of Ethereum (ETH) could surge to an all-time high above $5,000, thanks to its correlation with Bitcoin (BTC), which surpassed $100,000 for the first time on December 5.
A fractal pattern shared by popular cryptocurrency analyst Titan of Crypto in an
ETH/BTC, fractal. source: The Titan of Cryptocurrency
In cryptocurrency trading, technical traders use price fractal patterns to identify key support and resistance levels and potential trend reversals based on historical data.
Analysts are increasingly optimistic about the price of Ether, with some predicting an “impulse breakout” of $15,000 by the end of 2025.
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Avalanche raises $250 million ahead of Avalanche9000 launch.
Layer 1 blockchain Avalanche announced on December 12 that it had closed a $250 million privately held token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital.
More than 40 companies participated in the token sale, including SkyBridge, SCB Limited, Hivemind, Big Brain Holdings, Hypersphere, Lvna Capital, Republic Capital, Morgan Creek Digital, FinTech Collective, and more.
The increase comes ahead of the launch of the Avalanche9000 network upgrade, said to be the most significant upgrade in Avalanche’s history.
The Avalanche announced the raise on X.com. source: avalanche
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Telegram founder Pavel Durov was questioned for the first time in a Paris court.
Telegram founder Pavel Durov has reportedly been questioned by a Paris court for the first time in connection with legal proceedings relating to allegations the messaging app promotes criminal activity.
Durov appeared in a Paris court at 10am CET on December 6, accompanied by his lawyers David-Olivier Kaminski and Christophe Ingrain.
An anonymous source familiar with the matter told Agence France-Presse (AFP) that the inquiry focused on allegations related to the potential use of Telegram for illicit transactions.
When asked about the legal proceedings, Durov reportedly told AFP he “trusts the French judicial system” but declined to elaborate on the case.
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Tether’s USDT has been approved as an acceptable virtual asset in Abu Dhabi.
The Abu Dhabi Global Markets (ADGM) financial services regulator has recognized Tether’s USDt (USDT) stablecoin as an officially approved virtual asset (AVA).
The approval will allow licensed financial service providers within ADGM to offer services related to USDT, facilitating integration into the regulated financial ecosystem.
This recognition covers USDT issued on multiple blockchains, including Ethereum, Solana, and Avalanche, and is consistent with the UAE’s strategy to become a global hub for digital finance.
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The Eigen Foundation pledges 1% of EIGEN supply to the ETH Protocol Guild.
The Eigen Foundation announced that it will allocate 1% of the EIGEN token supply to the Protocol Guild, a core group of developers responsible for maintaining the Ethereum layer 1 blockchain.
According to the Eigen Foundation, the funds will be used to support the ongoing activities of the Protocol Guild, which currently consists of 29 teams and 180 members.
EigenLayer is Ethereum’s re-staking protocol, which allows you to repurpose STETH (Staked Ether) and other assets and stake them multiple times. This provides additional revenue opportunities for investors while also allowing other protocols to leverage Ethereum’s security.
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DeFi Market Overview
Most of the top 100 cryptocurrencies by market capitalization were in the red this week, according to data from Cointelegraph Markets Pro and TradingView.
Among the top 100, WorldCoin (WLD) recorded the biggest drop of the week, down nearly 22%, followed by the EOS (EOS) token, which fell over 21% on the weekly chart.
Total value locked in DeFi. Source: DefiLlama
Thank you for reading our roundup of this week’s most influential DeFi developments. Join us next Friday for more stories, insights and education about this dynamic and evolving space.