Ethereum began November with a remarkable 40% rally, but sustaining the momentum has proven challenging for the altcoin king.

As the price stabilizes above $3,000, a significant boost from institutional interest might help reignite Ethereum’s bullish trend. Ethereum ETFs are at the center of this resurgence, recording historic inflows.

Ethereum Has the Institutions’ Support

Over the past week, Ethereum ETFs experienced their largest weekly inflows since launch. BlackRock led the surge with a staggering $286 million, while the combined inflows across all ETFs reached $550 million. This influx reflects growing institutional confidence, driven by Ethereum’s price recovery and Bitcoin’s recent all-time highs.

The surge in ETF activity highlights institutional investors’ increasing reliance on Ethereum as a diversified asset. This trend is strengthening Ethereum’s position in the crypto market, potentially providing the momentum needed to overcome its recent price stagnation. Market sentiment appears to be favoring a bullish outlook.

Ethereum’s institutional demand extends beyond ETFs. According to the latest CoinShares ETP netflow report, November has already seen $789 million in Ethereum inflows from institutions. These large-scale investments reflect renewed interest in Ethereum as a long-term asset.

Additionally, large wallet holders are showing heightened activity, further validating Ethereum’s strong macro momentum. Their investments could be pivotal in driving ETH’s price upward, especially as institutions amplify their exposure to the cryptocurrency. This level of interest highlights Ethereum’s growing role as a key player in institutional portfolios.

ETH Price Prediction: Looking Forward

Ethereum is currently trading at $3,108, holding steadily above its critical support at $3,001. This level aligns with the 61.8% Fibonacci Retracement line, known as the bull market support floor, providing a stable foundation for potential gains.

Should institutional activity and positive market sentiment persist, Ethereum could breach the $3,248 resistance, enabling a continued uptrend. This move would position the altcoin king for further growth, solidifying its bullish trajectory.

decline would invalidate the bullish outlook, potentially dampening investor confidence. Ethereum’s ability to maintain momentum hinges on sustaining key support levels and capitalizing on its institutional backing.

Dogecoin (DOGE) recently surged to a three-year high of $0.43 on November 12 before retreating to $0.38, maintaining a 3% daily increase.

However, on-chain data shows that the price spike has led many long-term holders (LTHs) to take profits. If this trend persists, DOGE risks losing much of its recent gains in the short term.

Dogecoin’s LTHs Sell For Profit

BeInCrypto’s assessment of Dogecoin’s on-chain performance has revealed a decline in its Mean Coin Age over the past week. Per Santiment, this has dropped by 1% over the past seven days. 

Mean coin age refers to the average age of the coins in circulation. It gives insight into how long their owners have held coins before being moved or sold. When this metric falls, it means coins that have been held for a long time are being moved or traded more frequently. It is often a bearish sign that indicates that LTHs could be cashing out their profit.

Moreover, the positive readings from DOGE’s market value to realized value (MVRV) ratio suggest that the meme coin is currently overvalued. This may have prompted its LTHs to want to sell for profit. According to Santiment’s data, DOGE’s current MVRV ratio is 232.36%. 

The MRVR ratio is a key metric used to analyze a cryptocurrency’s valuation relative to its historical price trends. It compares the market value (the current price of all coins in circulation) to the realized value (the price at which coins last moved on the blockchain).

A positive MRVR ratio suggests that the market value is greater than the realized value. This indicates that the asset is overvalued. Historically, many view this as a signal to sell their holdings for profit.

At 236.36%, DOGE’s MVRV ratio suggests that its current market value is 236% higher than its realized value. Therefore, if all its holders were to sell, they would realize 236%  gains on average. Such a high MVRV hints at a prolonged period of price correction as more investors take profits.  

DOGE Price Prediction: Why LTHs Must Stop Selling

Currently trading at $0.38, DOGE sits just below the $0.39 resistance level. Increased selling pressure could push the price down to its support at $0.31.

A failure to hold this level may trigger a sharper decline, pushing DOGE below the $0.30 mark and potentially toward $0.21. Such a move would further distance the DOGE meme coin price from any rally beyond $0.47 and a return to $0.50, last seen in May 2021.

However, if market sentiment turns positive and long-term holders (LTHs) hold their positions, increased demand for DOGE could drive its price past $0.47, bringing the $0.50 price zone back into reach.

A federal court in California has ruled that members of the Lido DAO can be held liable under state partnership laws. 

Tile the case focuses on the decentralized governing body behind the popular liquid staking protocol (LSP). Nevertheless, this precedent marks a landmark decision with significant implications for decentralized governance.

Court Rules Lido DAO Members Liable Under Partnership Laws

Andrew Samuels brought the lawsuit after purchasing Lido’s native LDO tokens on the secondary market in April and May 2023 via the Gemini exchange. Samuels later filed a class-action suit in December, alleging that the tokens were sold as unregistered securities. He blamed the DAO for his financial losses due to their declining value. 

In his complaint, Samuels argued that the DAO actively solicited token purchases on exchanges, violating securities laws. The court sided with him, ruling that the DAO’s structure and activities subjected it to general partnership liability. 

“The statutory phrase ‘offers or sells’ has been construed broadly to include solicitation of securities purchases. Samuels has sufficiently alleged that Lido DAO solicited these purchases, making it liable,” the court noted.

The ruling, issued on Monday by Judge Vince Chhabria of the US Northern District Court of California, rejected Lido DAO’s claim that it operates as a non-legal entity immune to traditional legal frameworks. Instead, the court classified the DAO as a general partnership, holding its participants accountable for its operations and liabilities. 

The judge identified specific participants, including prominent venture capital (VC) firms Paradigm Operations, Andreessen Horowitz (a16z), and Dragonfly Digital Management. Per the ruling, these VCs pass as general partners due to their active involvement in Lido DAO’s governance and operations. However, another investor, Robot Ventures, was dismissed from the lawsuit due to insufficient evidence of direct participation. 

The court’s decision marks a pivotal moment in the legal treatment of decentralized autonomous organizations (DAOs). Of note is that DAOs are designed to operate without centralized control. However, the court found that Lido DAO’s structure — where token holders govern decisions and earn staking rewards — meets California’s definition of a general partnership. 

“[This case] raises critical questions about the ability of individuals in the crypto ecosystem to shield themselves from liability through novel legal arrangements tied to decentralized financial instruments,” judge Chhabria wrote in his ruling. 

This decision suggests that mere association with a DAO may not be enough to establish liability. Instead, active involvement in governance or operations is required. 

The ruling has sparked concern across the crypto and blockchain community. Miles Jennings, General Counsel and Head of Decentralization at a16z crypto, described the decision as a severe setback for decentralized governance. 

“Under the ruling, any DAO participation (even posting in a forum) could be sufficient to hold DAO members liable for the actions of other members under general partnership laws,” Jennings wrote in a statement on X (formerly Twitter). 

The decision highlights the risks for participants in DAOs, particularly those involved in governance or decision-making processes. 

By rejecting the argument that a DAO’s decentralized structure shields its participants from liability, the court has set a precedent that could affect other DAOs and their contributors. The ruling emphasized that a general partnership can exist even without the explicit intent to form one. It suffices, provided two or more individuals associate to co-own and operate a business for profit. 

This case has far-reaching implications for the crypto industry, particularly for decentralized projects that rely on token-based governance models. Moving forward, DAOs may need to rethink their structures and establish legal entities to protect participants from similar liability risks. 

“Every DAO will require a legal wrapper, a careful choice of jurisdiction, and compliance with laws of security (token) issuance unless the law changes,” Chief Apostle of RWA commented.

The decision signals a challenging road ahead for Lido DAO and its participants as they walk the legal and regulatory pathway. Meanwhile, other DAOs and decentralized projects may face increased scrutiny as courts and regulators examine their operations under traditional legal frameworks. 

Lido DAO’s LDO token is down almost 2% on this news. As of this writing, it is trading at $1.18.