The Daily Breakdown takes a closer look at the latest Ethereum upgrade and its technical setup, and dives into Ondo and Worldcoin.
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Crypto Corner
We’re continuing our talk about the ins and outs of the crypto market, helping investors to get more familiar with the 100+ cryptoassets offered by eToro. Next up: Ondo and Worldcoin.
Ondo (ONDO): Currently trading near $0.50 with a market cap of roughly $1.6 billion
Ondo is a DAO-backed platform launched in 2024 to bring real-world assets (RWAs) on-chain through tokenized Treasury and bond products like USDY and OUSG. Built by a team with Wall Street roots, Ondo aims to bridge traditional finance and DeFi through compliant, institution-ready structures and has partnered with major players, including JPMorgan. The ONDO token powers governance, treasury decisions, and protocol upgrades as adoption grows across regulated RWA markets.
Worldcoin (WLD): Currently trading near $0.63 with a market cap of roughly $1.5 billion
Worldcoin is a global identity protocol that combines biometric verification — via iris-scan hardware — with crypto incentives to create a tamper-resistant proof-of-personhood. After verification, users receive a World ID and WLD tokens, which can be used for payments, governance, and app features within its wallet ecosystem. The project aims to support identity-driven applications such as authentication, voting, and universal basic income. While early governance is foundation-led, Worldcoin is moving toward greater decentralization as global adoption expands through in-person scanning hubs and mobile onboarding.
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The Setup — Ethereum Upgrade
The Ethereum network’s “Fusaka” upgrade is set for today at 4:49 PM EST. Trading and access to ETH and ERC-20 should remain unaffected, barring network instability. If instability occurs, trading of ETH and ERC-20 tokens will pause until stability is resumed. Coin transfer services for ETH and ERC-20 tokens may not be fully available for 3 hours prior to, as well as during the fork, and coin transfer requests (both from the platform to wallet, and from the wallet externally) will be delayed until the upgrade has completed, and the network deemed stable. Normal service will resume post-upgrade stability. Read more here.
ETH climbed ~7% yesterday and is up another 3% this morning, regaining the $3,000 level in the process. That’s as it recently tested down into the key $2,400 to $2,800 area. Should bearish momentum return, a push to the lower end of this range — and the 200-week moving average — could be in store. However, if the bounce continues, bulls might push for a rebound back to the key ~$4,000 level.
Options
For investors who can’t trade or aren’t comfortable trading cryptocurrencies outright, they can consider ETFs for BTC and ETH. On the Ethereum front, ETHA remains the largest ETF by assets, while also supporting options trading.
Bulls can utilize calls or call spreads to speculate on upside, while bears can use puts or puts spread to speculate on downside. In either case, investors may consider using adequate time until expiration.
For those looking to learn more about options, consider visiting the eToro Academy.
What Wall Street’s Watching
It was a big day for Bitcoin, ETH and others on Tuesday, but Solana also enjoyed a strong rebound. Climbing almost 10% on the day, Solana has now found key support near $125 twice in the last few weeks. Can the bounce continue or will a retest be in store? Check out the charts.
Shares of American Eagle are racing higher in pre-market trading after the firm reported better-than-expected quarterly results. Earnings of 53 cents per share beat expectations of 44 cents per share, while revenue rose 6% to $1.36 billion and beat estimates of $1.32 billion. Even better, management provided a strong holiday outlook. Dig into the fundamentals for AEO.
When ASML was crushed from its highs, long-term investors wondered if and when it would return to its glory days. Well, US-listed ASML stock has now done just that, taking out its prior record high of ~$1,110 from July 2024. Not familiar with ASML? Learn more about it in our Deep Dive.
Disclaimer:
Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.