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Ethereum could see a new all-time high if it sustains a high volume move above a key descending trendline resistance. But $3800 by Friday?
Ethereum Deposits and Payouts Welcome
The betting markets seem to think so.
Some $8,000 had been bet so far at Polymarket with 44% of those backing Etherum's price shooting above the $3800 mark by Friday.
Ethereum was down 2% on Monday.
Part of the boost could come with the SEC potentially approving the incorporation of staking into Ethereum ETFs.
"We believe, under a new Trump 2.0 crypto-friendly SEC, ETH staking yield will likely be approved," Bernstein analysts highlighted. As the Federal Reserve has begun cutting rates, ETH's average staking yield of 3% will prove attractive to investors and asset managers through better ETF economics, the analysts added.
Ethereum's weekly active addresses increased over 25% to 2.64 million in November.
This market will immediately resolve to "Yes" if any Binance 1 minute candle for Ethereum (ETHUSDT) between December 2, 2024, 14:00 and December 6, 2024, 23:59 in the ET timezone has a final "High" price of $3,800.00 or higher. Otherwise, this market will resolve to "No."
The resolution source for this market is Binance, specifically the ETHUSDT "High" prices available here, with the chart settings on "1m" for one-minute candles selected on the top bar.
Please note that the outcome of this market depends solely on the price data from the Binance ETHUSDT trading pair. Prices from other exchanges, different trading pairs, or spot markets will not be considered for the resolution of this market.
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