Ethereum’s End-Of-Year Rally Still At Play? Analysts Eye 50% December Jump

XRP is currently trading at $2.18, maintaining a market cap of $131 billion, while traders closely monitor the $2.16–$2.25 corridor for potential price movements. This stability comes amidst a backdrop of recent volatility in the cryptocurrency market, where XRP has seen fluctuations in its value.

Grayscale has filed with the SEC to convert its Zcash Trust into the first exchange-traded fund (ETF) linked to Zcash, a move that has sparked discussions about the potential impacts on the cryptocurrency market. This filing comes amid a significant rally in Zcash's price, which has surged over 1,000% recently, despite a notable decline of 30% from its November peak. Analysts are debating whether this development will lead to further price volatility or stabilize the market.

Bhutan has allocated $970,000 in Ethereum for staking, marking a significant step in the country's strategic embrace of blockchain technology. This investment is expected to enhance Bhutan's digital infrastructure and foster innovation within its economy.

Ethereum is currently retesting key resistance levels after a notable correction, with analysts anticipating the upcoming Fusaka upgrade on December 3 as a potential catalyst for a rally. This follows a challenging November where Ethereum faced a 26% decline amidst broader market pressures.

DWF Labs has launched a $75 million fund aimed at accelerating the development of decentralized finance (DeFi) infrastructure, targeting next-generation projects across various blockchain platforms including Ethereum, BNB Chain, and Solana. This initiative reflects a growing commitment to enhancing the DeFi ecosystem and supporting innovative financial solutions.

Ethereum has raised its block gas limit to 60 million as the network prepares for the upcoming Fusaka upgrade, which is anticipated to enhance its capacity and efficiency. Co-founder Vitalik Buterin expressed optimism about continued growth, emphasizing the need for smarter adjustments to avoid new bottlenecks.

Bitcoin's price recently experienced a significant drop below $90,000, reaching a low of around $80,000, yet the bullish sentiment among investors remains largely intact. Analysts are optimistic about a potential rebound, with some predicting a rise to $300,000 in the long term.

Bitcoin has bounced back to seven-day highs, currently trading below key support levels, as traders anticipate a potential record Thanksgiving Day close for BTC. Despite recent fluctuations, Bitcoin's price has shown resilience, rebounding from a low of $80,000 to around $87,000 and briefly surpassing $90,000 ahead of the holiday.