Ethereum

Ethereum climbed 5.4% to $3,200 on November 19 after dropping to $2,956 the previous day, though technical indicators point to potential weakness ahead. Accumulation addresses and institutional investors continued purchasing ETH throughout the recent selloff, with critical support levels concentrated between $2,300 and $2,900. The asset has posted consecutive lower highs and lower lows since September, while on-balance volume shows sustained selling pressure.

Fundstrat co-founder Tom Lee projects Ethereum is approaching a cyclical bottom this week at $3,018, citing on-chain fundamentals and valuation metrics relative to Bitcoin. Lee attributes the recent decline to a broader crypto correction following an October 10 liquidation event. He maintains Ethereum's core investment thesis remains intact, supported by growing institutional interest in blockchain infrastructure for tokenization and stablecoins.

The Office of the Comptroller of the Currency issued Interpretive Letter 1186 on November 18, 2025, allowing national banks to hold native cryptocurrency assets specifically for paying blockchain network fees. Banks may maintain tokens such as ETH when required for operational activities including transaction validation and custody services. The guidance aims to reduce reliance on third-party fee payment providers and streamline blockchain-related banking operations.

The Office of the Comptroller of the Currency has authorized U.S. national banks to hold Bitcoin, Ethereum, Solana, and XRP on their balance sheets for operational purposes. Banks may now use these digital assets to pay blockchain network fees and interact directly with decentralized protocols without relying on third-party intermediaries. The ruling allows institutions to deploy cryptocurrencies in activities including internal blockchain pilots, settlement infrastructure, and smart-contract payment systems.

U.S. spot Ethereum ETFs recorded $1.42 billion in outflows during November, the largest monthly withdrawal since their 2024 launch, data show. Treasury firm BitMine Immersion purchased 54,000 ETH worth approximately $173 million during the same period. ETH has maintained support above $3,000 for four consecutive days despite the institutional selling pressure.

The Office of the Comptroller of the Currency issued Interpretive Letter 1186 on November 18, authorizing national banks to hold native crypto assets and pay blockchain network fees. The guidance enables banks to acquire tokens needed for transaction fees and testing purposes on distributed-ledger networks. Banks may now hold assets on networks including Ethereum, Solana, and Avalanche for operational requirements rather than speculative positions.

Mastercard has launched Crypto Credential on Polygon's network, allowing users to replace complex wallet addresses with human-readable usernames. The integration, facilitated by Mercuryo, assigns customizable aliases to verified wallet holders and issues soul-bound tokens for on-chain identity verification.

Ethereum, Chainlink and Cardano are showing Market Value to Realized Value metrics between -15.4% and -19.7% for 30-day active wallets, data show. Santiment states these levels historically signal potential accumulation zones. Bitcoin's social dominance reached a four-month high as the price fell below $95,000, reflecting heightened retail concern.

The Office of the Comptroller of the Currency issued Interpretive Letter 1186 on Tuesday, permitting national banks to hold cryptocurrency on their balance sheets to pay blockchain network transaction fees. The guidance addresses operational challenges banks previously faced when conducting blockchain transactions, which required maintaining separate accounts or engaging third-party providers to cover network fees.

BlackRock transferred 4,880 BTC and 54,730 ETH valued at $642 million to Coinbase Prime on November 17, according to on-chain data. XRP-linked investment products recorded a $15.5 million outflow during the first full week following the spot ETF launch on November 13. The outflow occurred alongside broader market withdrawals totaling $2 billion, with Bitcoin products losing $1.38 billion and Ethereum products shedding $689 million.