Originally published on: November 29, 2024
As the excitement builds for United States President-elect Donald Trump’s upcoming inauguration on Jan. 20, Ether’s price is poised to break the $4,000 mark. This optimism is fueled by the anticipated shift in regulatory scrutiny as Securities and Exchange Commission Chair Gary Gensler exits office on the same day.
In another surprising turn of events, Dogecoin has overtaken the market capitalization of luxury carmaker Porsche. This surge is attributed to endorsements from Elon Musk and the potential introduction of an exchange-traded product (ETP) for the meme-based cryptocurrency.
With over $8.9 billion in open contracts, Ether has outperformed Bitcoin in open interest, indicating growing investor interest in the cryptocurrency. The recent decline in Bitcoin open interest is seen as a strategic repositioning rather than mass liquidations.
As Ethereum’s layer-2 networks reach a record high of over $51.5 billion in total value locked, decentralized finance (DeFi) within the Bitcoin ecosystem is predicted to surpass all other crypto DeFi in the next two to three years. This forecast comes from Cardano founder Charles Hoskinson, who also highlights a new model for bridging Bitcoin without centralized exchanges.
Despite reports of over 30 tech founders being denied banking services in what is referred to as “Operation Chokepoint 2.0,” the cryptocurrency market remains resilient. The top 100 cryptocurrencies ended the week predominantly in the green, with Stellar and The Sandbox being the standout performers.
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