Ethereum (ETH) price has climbed 46.11%, marking impressive growth but still making it the second-worst performer among the top 10 largest cryptocurrencies. Its recent rally is supported by increasing whale accumulation and a 7-day MVRV signaling neutral to slightly bullish sentiment.

However, key resistance at $3,600 could determine whether ETH continues its upward trajectory toward $4,000 for the first time since December 2021. On the downside, a reversal could lead to a significant correction, with strong support at $3,000 and a potential drop to $2,359 if bearish pressure intensifies.

ETH 7D MVRV Shows An Important Threshold To Be Surpassed

Ethereum MVRV 7D is currently at 3.8%, signaling a neutral to slightly bullish position in terms of short-term profit-taking behavior. The MVRV 7D metric compares the market value to the realized value for coins moved in the past seven days, providing insights into the profitability of recent traders.

When MVRV 7D is low, it indicates that traders are holding at a loss or minimal profit, reducing selling pressure, whereas higher values suggest increasing profit-taking risks.

Historically, ETH price has struggled to maintain upward momentum when its MVRV 7D enters the 5–7% range, often triggering corrections. However, its recent rise to 13% before a 10% correction shows that breaking this zone could fuel sustained bullish momentum.

If MVRV 7D exceeds the 7% threshold again, ETH price may experience significant gains, potentially surpassing 10%, as bullish sentiment builds and traders resist taking profits in anticipation of further upside.

Ethereum Whales Are Back

The number of Ethereum whales holding at least 1,000 ETH is nearing its monthly high of 5,561, currently sitting at 5,557. Tracking whale activity is essential because these large holders significantly influence market trends through their buying and selling behavior.

Increases in whale numbers often signal growing confidence in the asset, supporting price stability or upward momentum, while declines can indicate reduced interest and potential selling pressure.

After rising from 5,527 to 5,561 over six days, the number of whales dropped to 5,535 on November 20, suggesting a brief period of profit-taking or reduced accumulation. However, the recent recovery to 5,557 within a week reflects renewed interest and accumulation among large holders.

This rebound suggests growing optimism in the market, which could support Ethereum price stability and pave the way for further upward movement if the trend continues.

ETH Price Prediction: Can It Get Back To $4,000?

If Ethereum maintains its current uptrend, it could soon test resistance at $3,600, a critical level for sustaining bullish momentum.

Breaking above this resistance would place Ethereum price just 11% away from reclaiming the $4,000 mark, a price it hasn’t reached since December 2021. Such a move would likely fuel further optimism and attract more buying interest, reinforcing the upward trend.

However, if the uptrend slows and reverses, ETH price will have strong support at $3,000, a key level to prevent significant declines.

If this support fails, the price could drop as low as $2,359, marking a potential 31% correction from current levels.

This week’s crypto calendar is packed with major events, as Sonic Labs is about to launch its L1 mainnet, the Avalanche Etna update went live, Jupuary voting began for Jupiter, and more.

Additionally, Starknet will soon begin STRK token staking, and Stacks Foundation will release a timeline for its sBTC Bitcoin-backed asset.

Sonic Mainnet Is Launching in December

Sonic Labs (formerly known as Fantom) has repeatedly claimed in recent weeks that its Layer-1 mainnet would launch in December. This EVM platform also known as Sonic will offer developers attractive incentives and powerful infrastructure.

However, the company is yet to confirm the exact launch date. A social media post from earlier today teased a few details.

“Tired of waiting months or years for empty launch ‘promises’, and you’re ready to show the world what you can do? Come launch with us on Sonic. Our mainnet goes live this December. Earn up to 90% of your app’s fees. Real 10k at sub-second finality. Secure gateway to Ethereum. Grants available via Innovator Fund. $200 million S airdrop,” Sonic Labs wrote on X (formerly Twitter).

These breadcrumb announcements, alongside Sonic Lab’s airdrop, have generated dramatic interest in the last few days. Sonic’s FTM token has also been performing admirably, surging over 30% in the past week as the mainnet launch approaches. The network’s post-launch success could determine a broader trend in FTM valuation.

Avalanche Etna Goes Live

Blockchain network Avalanche has launched its Etna upgrade on testnet today. After this phase, Etna will launch on the mainnet, which will be the final step before the company launches its “largest update ever.” This update, Avalanche 9000, will drastically upgrade the underlying technology, and Avalanche Labs cofounder Kevin Sekniqi recently discussed its importance:

“My excitement for mainnet deployment literally cannot be overstated. This vision has been in the works for so many years. Huge upgrade, and my expectation and hope is that it’ll spark a golden age of L1s, making ‘scaling’ a thing of the past. No more ‘how do we scale’ but now ‘ok, what do I build to get to 1 billion users?’”, claimed Sekniqi.

The Etna upgrade empowers L1 creators with greater control over their networks. Developers can now define custom staking mechanisms, select alternative gas tokens, and implement unique governance models tailored to their specific use cases.

Jupiter’s Jupuary Begins Voting

Jupiter, a Solana-based decentralized exchange, began the first round of voting for its “Jupuary” airdrop today.

Essentially, Jupiter opened up a vote to the community on whether or not to conduct several massive airdrops. These airdrops require 70% community approval, and their stated goal is to build engagement.

“This current vote is for checking if the community is comfortable with 2 more JUPuaries round of 700M $JUP tokens each. Building a decentralized community has never been an easy task. Jup by Jup, you and I should strive to make $JUP the best governance token in the world and J.U.P the best community ever,” an influencer wrote on X (formerly Twitter).

This is not the platform’s first Jupuary airdrop, but it is the largest. Developers stated that this airdrop’s mission is to “accelerate, decentralize, unify” their broader community ecosystem. If the first vote passes, it will lead to one round of airdrops and successive votes until they lose approval.

Starknet Begins Staking

Starknet, a permissionless ZK-Rollup, will begin staking on its STRK token this week. It deployed staking infrastructure on mainnet earlier today. This will begin the platform’s overall transformation into a Proof-of-Stake network in four phases of preliminary test experiments.

“Validator tooling is now operational, and Validators are invited to begin their integration. For Delegators, UI and dApps for delegation will be available tomorrow with the official launch. Starting tomorrow, becoming a STRK Delegator will be very simple for everyone,” the firm claimed via social media.

Stacks to Reveal sBTC Launch Timeline

Additionally, the Bitcoin L2 Stacks is expected to reveal a timeline for its sBTC Bitcoin-backed asset. The company has released a whitepaper and roadmap, but it claimed that a more detailed timeline is forthcoming. This new asset will seek to provide new opportunities for Bitcoin in nontraditional DeFi applications.

Finally, all eyes will be on Bitcoin as it pushes towards the long-awaited $100,000 milestone. Despite the brief corrections in the market on Monday, Bitcoin has been consistently pushing new boundaries of all-time highs. It will be interesting to see BTC finally reaches six figures ahead of Thanksgiving and Christmas.

Justin Sun, founder of Tron, has invested $30 million in World Liberty Financial (WLFI), a DeFi platform backed by Donald Trump. 

Despite Trump’s endorsement, the platform had struggled to attract investors, selling far fewer WLFI tokens than initially projected. However, Sun’s investment could potentially boost the project. 

A Much-Needed Boost for Trump’s World Liberty Financial (WLFI)? 

World Liberty Financial launched in September 2024, offering decentralized borrowing and lending services. Governance of the platform is driven by the WLFI token. The token became available for sale exclusively to non-US investors and accredited US investors. 

However, the token’s non-transferable nature and limited access contributed to slow sales. Before Sun’s investment, the project had just $21 million raised. This is far short of its $300 million target.

The Tron founder confirmed the transaction earlier today, on November 25. Blockchain data from Etherscan revealed that $30 million worth of WLFI tokens were purchased by Sun’s wallet associated with HTX (formerly Huobi). 

“The US is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation,” Justin Sun wrote on X (formerly Twitter).

The WLFI “gold paper” highlights that a portion of token sale proceeds will go to a company owned by Donald Trump. 

However, this arrangement would only generate profits for Trump’s company after exceeding $30 million in sales—a milestone reached after Sun’s investment.

World Liberty Financial is led by a mix of Trump associates, cryptocurrency entrepreneurs, and financial experts. The platform is also supported by Donald Trump and his three sons, further tying its identity to the Trump brand.

We’re honored to have the support of @justinsuntron and @trondao! Together, we’re driving innovation, aligning on a vision for a stronger blockchain future, and contributing to the growing ecosystem. Exciting times ahead,” WLFI wrote on X (formerly Twitter).

Meanwhile, Justin Sun’s involvement in World Liberity Financial marks another unconventional move in his portfolio. Last week, he paid $6.2 million for the viral art piece Comedian—a banana duct-taped to a wall. 

The purchase caused a ripple effect in crypto markets, driving up the price of the Banana Gun token by 16%. The token, however, doesn’t have any link to the art. 

Earlier this year, Sun also moved his EIGEN tokens from the EigenLayer liquid restaking protocol to the HTX exchange. His bold investments continue to draw attention across both the art and cryptocurrency sectors.