ETH to $4K before Trump inauguration, Dogecoin flips Porsche: Finance Redefined

Ethereum Price Poised to Break $4,000 as Optimism Grows

As investor sentiment strengthens ahead of President-elect Donald Trump's inauguration on January 20th, Ethereum's price is expected to surge past $4,000. This shift coincides with the departure of Securities and Exchange Commission Chair Gary Gensler, a move associated with reduced regulatory scrutiny on the cryptocurrency industry.

Dogecoin Surpasses Porsche's Market Cap

Dogecoin has surpassed the market capitalization of German carmaker Porsche, fueled in part by Elon Musk's endorsements and the potential release of an exchange-traded product (ETP).

Ethereum Outperforms Bitcoin

Ethereum has outperformed Bitcoin in terms of open interest, with over $8.9 billion in open contracts compared to Bitcoin's $6.7 billion. This trend may propel Ether to rally above $4,000 before Trump's inauguration, according to a Bybit spokesperson.

Layer 2 Networks See Record Growth

Ethereum layer-2 networks have reached a record-breaking $51.5 billion in cumulative total value locked (TVL), a 205% increase since November 2023. This growth indicates increasing investor confidence in Ethereum-native assets.

Cardano Founder Predicts Dominance of Bitcoin DeFi

Cardano founder Charles Hoskinson predicts that decentralized finance (DeFi) in the Bitcoin ecosystem will surpass all other crypto DeFi within two to three years.

Cryptofounders Denounce Debanking

Over 30 technology and cryptocurrency founders have been denied access to banking services in the United States in a move dubbed "Operation Chokepoint 2.0." This coordinated effort has been condemned by industry leaders, including Tesla founder Elon Musk.