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Crypto price prediction: Ethereum ($ETH), Meme Moguls ($MGLS)

Ethereum and Meme Moguls price forecast as SEC delays Fidelity’s spot ETF. $ETH: Analyst says $2,450 key to bulls and market could see sharp bounce. Meme Moguls ($MGLS) price has reached $0.0027 in stage 4, showing a 42% upside as potential 100x toke gathers presale pace. Amid the crypto market’s bid to bounce from recent…

Ethereum and Meme Moguls price forecast as SEC delays Fidelity’s spot ETF.
$ETH: Analyst says $2,450 key to bulls and market could see sharp bounce.
Meme Moguls ($MGLS) price has reached $0.0027 in stage 4, showing a 42% upside as potential 100x toke gathers presale pace.

Amid the crypto market’s bid to bounce from recent declines, Ethereum ($ETH) price is battling to hold above $2,400. While most altcoins mirror Ethereum’s downside move, some with double-digit losses over the past 24 hours, new token Meme Moguls ($MGLS) is defying the turbulence.

Here’s what analysts are saying about Ethereum and Meme Moguls.

SEC delays decision on Fidelity’s spot ETF

After recently approving several spot Bitcoin ETFs, the US Securities and Exchange Commission (SEC) has postponed its decision on Fidelity’s proposal to list a spot Ethereum ETF.

A SEC filing on Thursday pushed the decision on whether to allow or reject the application to March 5, 2024.

According to Bloomberg ETF analyst James Seyffart, SEC’s move to delay aligns with market expectations. He opines that the regulator could push the final resolution to late May. There are other Ethereum ETF applications before the SEC, including by BlackRock and Grayscale.

Meme Moguls ($MGLS): Strong presale suggests market confidence

$MGLS is the native token of the Meme Moguls platform, a new meme-backed trading exchange currently in presale.

The project offers an ecosystem where traders can tap into the opportunities available across the meme-inspired assets’ marketplace. It means viral performances for meme tokens is a chance to make a profitable trade on Meme Moguls.

By holding $MGLS, a trader can also participate in stake and earn as well as take advantage of a play-to-earn (P2E) environment to accrue earnings as they showcase their skills.

With the crypto trading landscape growing amid further adoption, Meme Moguls makes this an inclusive community platform. There’s an opportunity for everyone, including beginner traders who can climb leaderboards as they learn from moguls within the community.

Currently in presale, the Meme Moguls token’s price has risen to $0.0027 as massive interest continues amid predictions that this could be the next 100x token.

The project has raised over $1.7 million in stage 4 of the token sale. What’s on show is the kind of attention that could fuel $MGLS momentum when the token lists on exchanges after the presale.

Ethereum ($ETH): $2,450 key to bulls

Crypto prices reacted higher when asset manager’s first filed for the ETH spot ETFs, just like when it happened following Grayscale’s victory over the SEC in the fight to convert GBTC to a spot ETF.

Prices also rallied as the US securities regulator finally approved the first spot Bitcoin ETFs for the US market, with BTC rallying to highs of $49,000 and ETH retesting multi-month highs above $2,700.

Ethereum price is currently looking to hold the critical $2,450 support area. It’s a key level given the liquidations witnessed in the past 24 hours.

Commenting on the price outlook, MAC.D, an analyst at on-chain analytics provider CryptoQuant, noted: “If a large number of long positions are liquidated, causing volatility to the downside, market sentiment has the potential to shift sharply, while if the price holds and bounces back, investors are likely to be reassured and return to buying.”

Ethereum and Meme Moguls price prediction conclusion

While headwinds abound from a regulatory perspective, the crypto market appears to be confident in the eventual approval of ETH spot ETFs. The reflection is in the resilience currently on display despite the hit on broader sentiment.

Analysts expect Ethereum price to retest its all-time high above $4,800 if the bull market holds, and an ETF approval in March, or May, could help catalyse this growth.

Meanwhile, Meme Moguls could explode as the token makes an entry into the market amid overall upside trajectory for crypto, including meme coins.

If you’d like to learn more about Meme Moguls or buy the $MGLS token, visit their website.

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Launched on November 13, 2024, the scrvUSD stablecoin allows users to mint the token by depositing crvUSD into the scrvUSD module. The underlying crvUSD is overcollateralized by digital assets such as Ethereum (ETH), Wrapped Bitcoin (WBTC), and others, providing security to users’ funds.

Crucially, Curve Finance has emphasized that funds in scrvUSD are not rehypothecated or moved from the vaults, ensuring that the stablecoin remains a safe and sustainable option for investors.

According to Curve Finance founder Michael Egorov, the scrvUSD module is already sustainable, with over 3 million crvUSD stored in the vault. This initiative is designed to offer stability to the DeFi ecosystem, addressing the volatility concerns associated with traditional stablecoins.

The introduction of scrvUSD also marks an important step in Curve Finance’s broader strategy to enhance composability within decentralized finance.

Composability refers to the ability of various DeFi applications to work together seamlessly, allowing users to access innovative financial products.

Curve Finance’s move to scrvUSD follows its earlier decision in June 2024 to adopt crvUSD as the primary fee distribution asset, signalling a shift towards further integration across DeFi platforms.

Curve Finance’s partnership with TON

Additionally, Curve Finance is expanding its ecosystem through a collaboration with The Open Network (TON). This partnership seeks to increase interaction and composability between the two decentralized networks, fostering new opportunities for traders and investors.

As part of this collaboration, a competition was launched to develop Curve’s Constant Functional Market Maker (CFMM) — a tool designed to curb volatility and market slippage, thus improving overall efficiency in the DeFi space.

Through these strategic moves, Curve Finance continues to reinforce its position as a pivotal player in the evolving DeFi landscape.

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Crypto critic Elizabeth Warren rises to top Democrat on Senate Banking Committee

Senator Elizabeth Warren will be the top Democrat on the Senate Banking, Housing, and Urban Affairs Committee. The crypto critic’s new role means her input could have an impact crypto regulation in the US. Senator Elizabeth Warren, the top crypto critic in the US Senate, has confirmed she’s set to be the senior most Democrat…

En bild av senator Warren som representerar Massachusetts

Senator Elizabeth Warren will be the top Democrat on the Senate Banking, Housing, and Urban Affairs Committee.
The crypto critic’s new role means her input could have an impact crypto regulation in the US.

Senator Elizabeth Warren, the top crypto critic in the US Senate, has confirmed she’s set to be the senior most Democrat on the crucial Senate Banking, Housing, and Urban Affairs Committee.

Warren, who defeated pro-crypto lawyer John Deaton for the Massachusetts senate seat in the 2024 elections, noted this in a statement published on Wednesday. Notably, the Senate Banking Committee is the entity that’s set to handle critical legislation on cryptocurrencies.

While Republicans have control of the Senate, any changes to this scenario likely during the mid-terms could see Warren become even more influential in the next two years.

Warren’s new Senate role

Warren’s elevated position follows the exit of Sherrod Brown, the former chairperson of the Senate Banking Committee. The Ohio Democrat lost in the 2024 U.S. election, with his defeat coming amid massive effort from across the crypto space to support the winner and new Ohio Senator-elect Bernie Moreno.

The 2024 US election has also seen the most pro-crypto lawmakers elected.

However, the crypto industry’s larger concern will be on the influence of the Dem’s ranking member in Senate. While Warran did mention crypto in the statement, she said:

“In the aftermath of the 2024 election, it’s powerfully important for Democratic leadership to show that we can make life more affordable for working people and to act with urgency to rebuild our middle class. For Massachusetts and hard-working families nationwide, this new role means a better chance to advance solutions like building more housing to lower prices and protecting consumers from private equity greed and special interest scams.”

Cryptocurrencies have rallied since Donald Trump won a second term by defeating Democrat Kamala Harris in Nov. 5. Bullish sentiment has seen Bitcoin break past the previous bull market’s high to hit highs of $93k.

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BlackRock’s spot Bitcoin ETF hits $40 billion, sets new record in 211 days

BlackRock’s IBIT reached a new record in 211 days, surpassing iShares Core MSCI Emerging Markets ETF’s previous record of 1,253 days BlackRock’s new record comes two weeks after it hit $30 billion in net assets at the end of October BlackRock is now in the top 1% of all ETFs by assets and is bigger…

blackrock ceo larry fink crypto digitalising gold

BlackRock’s IBIT reached a new record in 211 days, surpassing iShares Core MSCI Emerging Markets ETF’s previous record of 1,253 days
BlackRock’s new record comes two weeks after it hit $30 billion in net assets at the end of October
BlackRock is now in the top 1% of all ETFs by assets and is bigger than all the ETFs launched in the past 10 years

BlackRock has done it again. This time its IBIT spot Bitcoin exchange-traded fund (ETF) has hit a record of over $41 billion in net assets in 211 days.

News of the milestone comes two weeks after BlackRock reached $30 billion in net assets in 293 days at the end of October.

Posting on X in October, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

With BlackRock’s new achievement, it’s surpassed the previous record of 1,253 days held by iShares Core MSCI Emerging Markets ETF, according to Balchunas.

In a post on X, he said: “[BlackRock’s] now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years.”

JUGGERNAUT: $IBIT has hit the $40b asset mark (a mere two wks after hitting $30b) in a record 211 days, annihilating prev record of 1,253 days held by $IEMG. It’s now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years. pic.twitter.com/WTATlpShUq

— Eric Balchunas (@EricBalchunas) November 13, 2024

Now, BlackRock holds more than 467,000 Bitcoin, valued at $41.8 billion, according to iShares data.

Reaching new heights

The new record comes as Bitcoin reached an all-time high of over $93,000 on November 13 in a continued rally that’s showing no signs of slowing.

The upward trajectory is partly due to Donald Trump being re-elected as US President earlier this month. Following news of his win, Bitcoin broke the $75,000 mark. It then passed $82,000, and continued to $84,000, before pushing to $87,000 earlier this week.

In September, Bernstein analysts predicted that Bitcoin would surge to between $80,000 and $90,000 if Trump won the US election. With that prediction having now passed, Bernstein analysts believe Bitcoin could reach $200,000 in 2025, urging investors to “buy everything they can.”

It remains to be seen how far Bitcoin will go, but for now, it’s showing no signs of slowing down.