Ethereum is on the verge of reclaiming the $4,000 level as it inches closer to its all-time highs. The second-largest cryptocurrency by market cap has faced skepticism throughout this cycle, with some analysts predicting it would underperform compared to its previous bull runs. However, Ethereum has surprised doubters, steadily climbing in recent weeks despite market uncertainty. Related Reading: ONDO Exchange Inflows Grow – Volatility Ahead? Key on-chain metrics from Glassnode reveal an important trend that could fuel further price gains: Ethereum whales have been accumulating aggressively since late November. This signals growing confidence among major holders, who are positioning themselves for potential upside. Historically, whale accumulation has often preceded significant price moves, hinting at the possibility of a breakout in the near term. While the market remains divided on Ethereum’s trajectory, its ability to sustain upward momentum near the $4,000 mark will likely define its performance in the weeks ahead. Breaking above this critical resistance could open the door to new highs and further solidify ETH’s role as a leader in the ongoing bull cycle. Ethereum Mega-Whale Balances Grow Ethereum has experienced a steady, albeit modest, rally since November 5, but it seems the real fireworks for ETH are yet to ignite. As Bitcoin soars into price discovery and several altcoins outperform expectations, Ethereum investors are searching for clear signals of an impending bull run for the second-largest cryptocurrency. Key on-chain data shared by top analyst Ali Martinez on X provides intriguing insights into Ethereum’s current state. Martinez highlights that Ethereum whales—entities holding significant amounts of ETH—have been accumulating aggressively since the price broke above the $3,330 level. This accumulation trend suggests that smart money is positioning itself for what could be a massive upward move in the months ahead. Historically, whale accumulation has often been a precursor to strong price rallies, as these large investors tend to anticipate major market shifts before retail traders. However, the narrative isn’t entirely bullish. While whale accumulation may signal confidence, it also raises concerns about a potential bull trap. These large holders could quickly pivot, offloading their ETH for other assets if market conditions shift or if Bitcoin’s dominance suppresses altcoin growth. Such a move could catch smaller investors off guard, leading to sharp corrections. Related Reading: AAVE Dominates DeFi Lending – Metrics Reveal 45% Market Share For Ethereum, holding above critical levels like $3,800 while breaking key resistances could be the catalyst needed to spark a true bull run. Until then, ETH remains a watchlist favorite, balancing potential and uncertainty. Price Testing Crucial Resistance Ethereum (ETH) is trading at $3,950, struggling to break above the crucial $4,000 resistance level for several days. Despite this, the price remains resilient, signaling strong market support. Clearing this level is essential to confirm the continuation of the uptrend, as $4,000 represents a psychological barrier and a key resistance zone for the asset. If Ethereum fails to breach the $4,000 mark, a retrace toward lower demand zones around $3,500 could be expected. This level has served as strong support in recent weeks, providing a cushion during periods of increased selling pressure. A pullback to this area could allow for renewed buying momentum, setting the stage for another attempt to break higher. Related Reading: Dogecoin Will See New ATH Soon – Top Trader Sets $2 Target However, recent market dynamics suggest Ethereum may be poised for a significant move upward. Bitcoin’s surge into price discovery and growing optimism around altcoins have created a bullish environment. With whales continuing to accumulate ETH, as highlighted by on-chain data, market participants are increasingly confident in Ethereum’s ability to retest and surpass its all-time highs. Featured image from Dall-E, chart from TradingView
Bitcoin, Ethereum, and other digital assets to close 2024 on a high, with year-to-date inflows reaching a record $44.5 billion. According to a CoinShares report, inflows continued for the 10th week, led by Bitcoin’s $2 billion weekly inflow and Ethereum’s $1.089 billion weekly inflow. The report underlined strong trading activity, with digital asset exchange-traded products averaging $21 billion in weekly volumes. iShares ETFs saw over $2 billion in inflows over the past week, while Fidelity recorded $598 million in inflows. Grayscale investment ETFs are still recording major outflows, getting $145 million in outflows over the past week. Bitcoin and alts to close the year on a high Bitcoin , Ethereum, and other digital assets recorded year-to-date inflows of $44.5 billion as 2024 concludes. CoinShares reports that the 2024 figure is more than four times the amount of any previous year. With Bitcoin sustaining a record peak, digital asset inflows continued for the 10th consecutive week with $3.2 billion worth of inflows. Bitcoin investments led to inflows of $2 billion last week, as per CoinShares. The positive trigger was the US elections, which have increased the total inflows to $11.5 billion since then. Ethereum also performed well, with its seventh straight week of $1 billion inflows. Its seven-week total reportedly surpassed $3.7 billion. XRP, Polkadot, and Litecoin also saw notable inflows, reflecting growing optimism around potential ETFs and altcoin interest. The report also notes that the trading volumes for digital asset exchange-traded products (ETPs) have averaged $21 billion weekly. It accounted for 30% of Bitcoin trading on trusted exchanges. Meanwhile, Bitcoin’s daily trading volume averaged $8.3 billion, double that of the FTSE 100. Most regions globally also recorded significant flows, with the U.S. leading with over $3.1 billion in weekly flows. Switzerland, Germany, and Brazil also received $35.6 million, $32.9 million, and $24.7 million in weekly flows, respectively. Sweden still recorded negative flows this year, with $19 million, $37.9 million, and $630 million in negative weekly, monthly, and yearly flows, respectively. Multiple cryptocurrencies, including Bitcoin, Ether, and Chainlink, have also recorded positive price action this week. Bitcoin tested a new all-time high today, reaching $107,780 and trading at $107,400 at the time of writing. ETH’s price has increased by over 5% in the past 24 hours and about 6.5% in the past week. Institutional adoption contributes to positive crypto performance #BTC breaks $100K again today, with more institutional interest and industry builders, the trends for #crypto adoption is inevitable. #Bitcoin price performance in December over the past 14 years has most often shown a pattern of positive growth, especially after each halving… pic.twitter.com/YddswtGGzs — Vijay | bitsCrunch – $BCUT (@VijayPravinM) December 12, 2024 Multiple reports, including a recent OKG Research report, have indicated an increase in global institutional crypto adoption, with more global companies opening up their investments in crypto. Several custodial services have also been offering more crypto investment products, with the most notable being this year’s approval for Bitcoin and Ether spot ETFs. Recent CryptoQuant data has also indicated an increase in ETF holdings. Wall Street asset management companies have further been exploring more crypto options. Grayscale, MicroStrategy, and BlackRock are now some of the top global BTC holders. MicroStrategy’s latest moves to increase its BTC holdings have significantly triggered a more bullish outlook for crypto. A Bitcoin Suisse prediction for crypto for 2025 confirmed that more companies and governments may be set to adopt more crypto utilities and monetary policies in the coming year. Bitcoin Suisse explained that the conditions would fuel BTC and other cryptocurrencies. The prediction further suggested that the long-awaited alt-season will become full-blown in the first quarter of 2025. Several analysts, including CryptoQuant’s CEO Ki Young Ju, also expect that cryptocurrencies will continue on an upward trend until the end of the year. Young Ju predicted that BTC would reach $112,000 by the end of the year and over $135,000 in 2025. Other predictions have reportedly highlighted that altcoins, including ETH, will follow BTC’s upward trend. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
Bitcoin prices continued their strong, upward trend on Monday, December 16, setting a new record as they climbed past $105,000.
Ethereum price started a decent increase above the $3,950 zone. ETH is consolidating gains and might aim for a move above the $4,150 resistance zone. Ethereum started a decent increase above $3,950 and $4,000. The price is trading below $3,980 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,940 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $4,080 and $4,120 resistance levels. Ethereum Price Regains Momentum Ethereum price remained stable and extended gains above $3,880 but it underperformed Bitcoin . ETH was able to climb above the $3,980 and $4,000 resistance levels. The bulls pushed the pair above the $4,050 and $4,080 resistance levels. A high was formed at $4,107 before there was a pullback. There was a minor decline below the $4,000 level. The price traded as low as $3,946 and is currently rising . There was a move above the 23.6% Fib retracement level of the downward move from the $4,107 swing high to the $3,946 low. Ethereum price is now trading above $4,000 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,940 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $4,025 level. The first major resistance is near the $4,070 level or the 76.4% Fib retracement level of the downward move from the $4,107 swing high to the $3,946 low. The main resistance is now forming near $4,120. A clear move above the $4,120 resistance might send the price toward the $4,250 resistance. An upside break above the $4,250 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,350 resistance zone or even $4,500. Downside Correction In ETH? If Ethereum fails to clear the $4,120 resistance, it could start another decline. Initial support on the downside is near the $3,980 level. The first major support sits near the $3,940 zone. A clear move below the $3,940 support might push the price toward the $3,880 support. Any more losses might send the price toward the $3,800 support level in the near term. The next key support sits at $3,750. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,940 Major Resistance Level – $4,120
Bitcoin has reached a record value against gold, signaling a notable shift in how investors view these two major assets. The unprecedented ratio of 37.3 indicates that one Bitcoin can
Bitcoin now commands its highest-ever value relative to gold, marking a potential shift in store-of-value preferences.
In a recent interview with Bloomberg, Jay Jacobs, the US Director of Thematic Investments at BlackRock, emphasized the burgeoning interest in Ethereum ETFs, characterizing current investor engagement as merely the
The post Ripple’s RLUSD Launch Date And Time Revealed: What To Expect Today? appeared first on Coinpedia Fintech News Ripple has officially announced the launch of its RLUSD stablecoin, set to go live soon. Monica Long, President of Ripple, took to her social media handle on Monday and said that this new stablecoin is an important step for both the XRP Ledger and Ripple, which handles over $70 billion in payments. RLUSD combines Ripple’s 10 plus years of experience with strong compliance standards and support from a trusted advisory board. The company had received final approval for RLUSD from the New York State Department of Financial Services (NYDFS), under the regulator’s limited-purpose trust company charter, as of last week. RLUSD will launch on platforms like Uphold, MoonPay, CoinMENA, Archax, and Bitso, with more exchanges like Bullish, Mercado Bitcoin, Zero Hash, Independent Reserve, and Bitstamp joining soon. An enterprise-grade stablecoin for everyone. Ripple USD ($RLUSD) drops tomorrow on @UpholdInc , @MoonPay , @CoinMENA , @ArchaxEx and @Bitso , with @bullish , @mercadobitcoin , @ZeroHashX , @indepreserve , and @Bitstamp soon to follow. https://t.co/k3DrWO4PXA — Brad Garlinghouse (@bgarlinghouse) December 16, 2024 When Will RLUSD Launch? RLUSD will be available on global exchanges starting today, December 17, 2024. While the launch date is confirmed, the exact time has not been disclosed. While social media posts on X suggest the launch will happen at 8:00 AM EST, allowing users to get in before the typical 9-5 workday begins, this information is purely speculative and has not been officially confirmed. As such, it should be treated with caution until Ripple provides official details. XRP Price Jumps: The market reacted positively to the news, with XRP seeing a boost in value. Although some traders are taking profits, the excitement is building, and XRP’s price could continue to rise as more trust in Ripple grows. XRP has been experiencing a strong price surge due to a major announcement from Ripple. While Bitcoin and other cryptocurrencies like BNB and ETH are performing well, XRP’s movement is directly tied to Ripple’s stablecoin news. As Ripple gains more trust, XRP’s value is expected to climb, benefiting from the positive sentiment in the crypto market.
Bitcoin price started another increase above the $105,000 resistance zone. BTC is gaining pace and it traded to a new all-time high above $107,000. Bitcoin started a fresh surge above the $105,000 zone. The price is trading above $104,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $105,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $103,500 support zone. Bitcoin Price Extends Rally Bitcoin price formed a base and started a fresh increase above the $102,000 zone. There was a move above the $103,200 and $104,500 levels. The price even cleared the $105,000 level. A new all-time high was formed at $107,777 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the recent rally from the $99,251 swing low to the $107,777 high. Bitcoin price is now trading above $104,000 and the 100 hourly Simple moving average . There is also a key bullish trend line forming with support at $105,000 on the hourly chart of the BTC/USD pair. On the upside, the price could face resistance near the $107,200 level. The first key resistance is near the $107,750 level. A clear move above the $107,750 resistance might send the price higher. The next key resistance could be $108,000. A close above the $108,000 resistance might send the price further higher. In the stated case, the price could rise and test the $112,000 resistance level. Any more gains might send the price toward the $115,000 level. Downside Correction In BTC? If Bitcoin fails to rise above the $107,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $105,000 level or the trend line. The first major support is near the $103,000 level or the 50% Fib retracement level of the recent rally from the $99,251 swing low to the $107,777 high. The next support is now near the $102,000 zone. Any more losses might send the price toward the $100,000 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $105,000, followed by $103,000. Major Resistance Levels – $107,500, and $112,000.
On December 17, COINOTAG reported significant activity within the U.S. Bitcoin spot ETF market, highlighting a remarkable net inflow of $637.5 million over the prior day, according to data sourced