Synthetix returns to Ethereum mainnet after 3 years: ‘We can run it back’

Ethereum is currently experiencing significant selling pressure, with its price dropping to $2,933 after a 9% decline in just eight hours. This downturn has led to the liquidation of over $670 million in long positions, reflecting a broader market struggle characterized by fear and uncertainty. Analysts are increasingly predicting a prolonged bear market extending into 2026, as Ethereum remains below critical structural levels.

The U.S. Federal Reserve has revised its guidance on how banks can engage with cryptocurrency, allowing for greater participation in digital asset trading. This change reverses previous restrictions that limited the activities of uninsured state-chartered banks, enabling them to access core payment systems and Federal Reserve membership.

Dogecoin (DOGE) is nearing a critical price zone as investor interest wanes, ETF inflows stagnate, and selling pressure increases. The cryptocurrency is trading close to levels where many holders acquired their tokens, raising concerns about potential downside risks if market confidence continues to decline.

Visa has expanded its payment settlement options by integrating the USDC stablecoin on the Solana blockchain, moving beyond its previous Ethereum-based initiatives. This shift signifies a growing trend towards the adoption of stablecoins in mainstream finance, with Visa already handling approximately $3.5 billion in annual stablecoin settlements.

Bitcoin and Ethereum prices have declined significantly, attributed to a wave of fear in the cryptocurrency market following BlackRock's transfer of 2,257 BTC and 74,973 ETH to Coinbase. This move raised concerns about potential sell-offs by the world's largest asset manager, coinciding with ETF outflows on December 16.

Ethereum's price has fallen below the $3,000 psychological support level, raising concerns about potential capitulation as bearish trends and liquidity targets remain intact. This decline follows a period of volatility, with the cryptocurrency struggling to maintain its value amidst market pressures.

RWAio reports that fragmented tokenized real-world asset (RWA) markets incur annual losses between $600 million and $1.3 billion due to inefficiencies and price discrepancies across various blockchain networks, including Ethereum and Polygon.

ETHGas has successfully raised $12 million in seed funding, coinciding with Ethereum co-founder Vitalik Buterin's renewed discussion on on-chain gas futures and fee-hedging mechanisms. This funding is expected to support the development of solutions aimed at enhancing transaction fee predictability within the Ethereum network.