Aether Fractals Targets $5K, Avalanche $250M Funding Re-Revealed
Ether is preparing for a rally above $5,000, with crypto analysts expecting a cycle above $15,000 for the world's second largest cryptocurrency.
In the broader crypto space, Avalanche has closed more than 40 companies' locked token sales ahead of Avalanche9000, the most significant update in the history of the Layer-1 blockchain network.
Ether to $5,000 in fractals, BlackRock ETH ETF holdings 2x on $500 million purchase
Ether could see a rally above $5,000 based on technical chart patterns, with analysts predicting that the bullish momentum could extend until the end of 2025.
The price of Ether (ETH) could soar to an all-time high above $5,000, fueled by its correlation with Bitcoin (BTC), which surpassed $100,000 for the first time on December 5.
Ether's rally to a record high of $5,000 may be the “lower target” as shared by popular crypto analyst Titan of Crypto in a December 6 X post.
ETH/BTC, fractals. Source: Titan of Crypto
In crypto trading, technical traders use price fractal patterns to identify key support and resistance levels and potential trend reversals based on historical data.
Increasingly, analysts are pessimistic about Ether's price, with some predicting a “big push” toward $15,000 by the end of 2025.
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Avalanche paid $250 million before Avalanche9000 launched.
Layer-1 blockchain Avalanche announced the closing of a $250 million private equity sale led by Galaxy Digital, Dragonfly and ParaFi Capital on December 12.
More than 40 companies joined the token sale, including SkyBridge, SCB Limited, Hivemind, Big Brain Holdings, Hypersphere, Lvna Capital, Republic Capital, Morgan Creek Digital, FinTech Collective and others.
The increase comes ahead of the launch of the Avalanche9000 network upgrade, which is said to be the most significant upgrade in Avalanche's history.
Avalanche announced the addition on X.com. Source: Avalanche
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The founder of Telegram, Pavel Durov, presented a request for the first time in the Paris court: Report
Telegram founder Pavel Durov has been questioned in a Paris court for the first time in a legal case in which he is accused of facilitating criminal activity with the messenger app.
Durov appeared in a Paris court on December 6 at 10:00 am CET, accompanied by his lawyers David-Olivier Kaminsky and Christophe Ingrain.
An anonymous source familiar with the matter told Agence France-Presse (AFP) that the inquiry is related to allegations that Telegram may be used for illegal trading.
Asked about the legal process, Durov told AFP he had “confidence in the French justice system” but declined to comment on the case.
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Tether USDT has been approved as an accepted virtual currency in Abu Dhabi
The Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) has officially recognized Tether's USDt (USDT) stablecoin as an Acceptable Virtual Value (AVA).
Once approved, financial service providers licensed in the ADGM may facilitate the integration of USDT-related services into the regulated financial ecosystem.
The recognition is supported by multiple blockchains – including Ethereum, Solana and Avalanche – and is in line with USDT's strategy to become the UAE's global hub for digital finance.
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The EIGEN Foundation donates 1% of the EIGEN supply to the ETH Protocol Guild
The Eigen Foundation has announced that it will allocate 1% of the EIGEN token supply to the Protocol Guild – the group of core developers responsible for maintaining the Ethereum layer-1 blockchain.
According to the Eigen Foundation, the funds will be used to support the continued operation of the Protocol Guild, which currently has 180 members from 29 groups.
EigenLayer is a reshoring protocol on Ethereum, which allows Staked Ether (STETH) and other assets to be reused and shared multiple times. This provides investors with additional profit opportunities while allowing other protocols to leverage Ethereum's security.
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Overview of the DeFi market
Most of the 100 largest cryptocurrencies by market capitalization ended the week in the red, according to data from Cointelegraph Markets Pro and TradingView.
Out of the 100, Worldcoin (WLD) is down nearly 22%, marking the biggest decline of the week, followed by EOS (EOS), which is down more than 21% on the weekly chart.
Total value is locked in DeFi. Source: Defillama
Thanks for reading this week's roundup of the most impactful DeFi developments. Join us next Friday for more stories, insights and lessons about this dynamic and evolving space.
