Ethereum News Today: Ethereum's $201B Token Boom Struggles to Lift Price Amid Bearish Pressures

Ethereum's tokenized asset base has surged to $201 billion, representing nearly two-thirds of the global total of $314 billion, according to recent data. This growth, driven by institutional adoption from firms like BlackRock and Fidelity, has fueled a 2,000% increase in onchain fund assets under management (AUM) since January 2024. Stablecoins, which form the backbone of Ethereum's network economy, continue to facilitate $18 trillion in annual transaction volume, outpacing traditional payment systems like Visa. Tokenized real-world assets (RWAs) on Ethereum-spanning treasuries, credit instruments, and funds-have grown to $12 billion, accounting for 34% of the global RWA market.

However, Ethereum's price action remains under pressure. The cryptocurrency trades near $3,590, constrained by a descending trendline that has repeatedly rejected breakout attempts since early October. Exchange outflows have intensified, with $282 million in ETH moving onto centralized exchanges on November 11 alone, signaling a defensive market stance. While open interest remains elevated at $40.67 billion, long-to-short ratios above 2.5 on major exchanges highlight the risk of liquidation cascades should the asset fail to break above $4,070 according to market analysis. Analysts emphasize that a sustained close above the 50-day EMA ($3,893) or 100-day EMA ($3,881) would be critical to reversing the current bearish pattern based on technical indicators.

In a separate development, Gediktepe Mining Co. has initiated a $15.5 million capital raise to fund its Enriched Ore Treatment Project, which aims to expand copper and zinc production by Q1 2029. The project, currently in the permitting phase, will leverage internal cash resources and the fundraise to cover $39 million in development costs. The offering includes a 6.1% discount for institutional investors and a 0.4% premium for retail participants through RetailBook according to the company's announcement. CEO Artem Volynets highlighted the project as a "significant advancement" for operational growth, aligning with the company's broader strategy to enhance liquidity for new and existing shareholders as stated in official communications.