Ethereum’s Critical Support Test at $3,500 Amid Market Turmoil
Ethereum is currently testing a crucial support level at $3,500 following a significant market-wide sell-off that wiped out approximately $100 billion from the cryptocurrency market. As of November 10, 2025, the second-largest cryptocurrency by market capitalization has seen a 5.17% drop, bringing its price down to $3,528. This downturn was triggered by a combination of factors, including hawkish remarks from Federal Reserve Chair Jerome Powell regarding interest rates and a $110 million exploit on the DeFi protocol Balancer. The market's reaction highlights the sensitivity of digital assets to macroeconomic signals and security vulnerabilities within the ecosystem. Despite the current bearish pressure, Ethereum's ability to hold the $3,500 support level could be pivotal for its short-term recovery. Investors and traders are closely monitoring this level, as a breach below could lead to further downside, while a bounce may signal resilience and potential upward momentum. The broader crypto market's performance in the coming days will likely hinge on macroeconomic developments and any further incidents within the DeFi space.
Ethereum Tests $3,500 Support Amid $100B Crypto Market Sell-Off
Ethereum faces a critical juncture as its price tests the $3,500 support level following a brutal market-wide liquidation event. The second-largest cryptocurrency by market cap dropped 5.17% to $3,528 amid a broader crypto market collapse that erased $100 billion in value.
The sell-off accelerated after Federal Reserve Chair Jerome Powell's hawkish comments on interest rates and a $110 million exploit of DeFi protocol Balancer. Traders are now watching whether ETH can stabilize above $3,487 - a level analyst @CryptoCaesarTA identifies as make-or-break for Ethereum's near-term trajectory.
Despite the bloodbath, on-chain data suggests institutional players are accumulating ETH at these levels. Daily trading volume surged to $51.9 billion as the market digested over $1.14 billion in Leveraged position liquidations.
Balancer V2 Loses $128 Million in Major DeFi Exploit
Balancer V2, a cornerstone of decentralized finance, suffered a catastrophic security breach on November 3, 2025. Attackers siphoned $128 million through a sophisticated smart contract exploit, targeting WETH, osETH, and WSTETH liquidity pools.
The exploit leveraged a vulnerability in the 'manageUserBalance' function, where flawed identity verification allowed unauthorized fund movement. Hackers manipulated pool pricing through malicious contracts and precision errors, executing arbitrage attacks at scale.
This incident marks one of DeFi's largest losses in 2025, raising fresh concerns about protocol security as institutional adoption grows. The stolen assets were immediately funneled through fresh wallets, complicating recovery efforts.
Ethereum Trading Patterns and Market Sentiment Analysis
Ethereum's trading dynamics reflect a market balancing volatility with periods of stagnation. Daily volumes surpassing 20 million ETH in November 2025 underscore heightened activity from both retail and institutional participants. The asset's $3,264 price point signals cautious Optimism amid broader crypto market fluctuations.
Decentralized finance applications continue driving Ethereum's utility, yet price movements remain tethered to macroeconomic liquidity conditions. Exchange data reveals concentrated liquidity across centralized platforms, while DeFi protocols contribute granular depth through staking and lending mechanisms.
Ethereum’s Vitalik Buterin Advocates for Open-Source Autonomous Driving Systems
Vitalik Buterin, co-founder of Ethereum, has extended his advocacy for transparency and decentralization beyond the cryptocurrency space, calling for open-source development in autonomous vehicle technology. In a recent social media post, Buterin emphasized the need for publicly auditable and independently verifiable self-driving systems to rebuild trust and enhance safety.
The push comes as the AV industry faces heightened scrutiny following high-profile accidents, with proprietary systems dominating the market. Buterin's proposal aligns with Ethereum's Core principles of open governance and verifiable technology, suggesting that modular open-source components could reduce costs and accelerate innovation for automakers and startups alike.
ZKsync Era Proposes New Tokenomics Plan to Sustain Growth Amid $30 Million Revenue
ZKsync founder Alex Gluchowski has unveiled a revamped tokenomics framework designed to anchor the ZK token's value to real-world network activity. The proposal introduces cross-chain interoperability fees and enterprise licensing—two revenue streams that could fundamentally reshape the token's utility.
Current DeFiLlama data shows zksync Era has generated $30.03 million in cumulative revenue, though only $640,000 flowed in over the past year. The new model redirects all proceeds toward governance-controlled mechanisms: token buybacks, burns, staking rewards, and ecosystem development.
Originally conceived as a governance token, ZK now evolves alongside Elastic Network's expanding ecosystem of Ethereum-secured chains. With Prividium solutions for enterprises nearing production, the redesign explicitly ties token value to actual network usage.
DeFi Security in Focus: $19M Recovered Amid $231M Exploits
DeFi's security paradox came into sharp relief this week as StakeWise DAO clawed back $19.3 million from the Balancer V2 exploit while Stream Finance collapsed under a $93 million off-chain loss. The contrasting outcomes reveal both progress and persistent vulnerabilities in decentralized finance.
StakeWise's recovery leveraged DeFi-native safeguards—emergency multisigs, smart contract clawbacks, and rapid DAO governance—showcasing the ecosystem's maturing defense mechanisms. Meanwhile, Stream Finance's implosion exposed the risks of opaque CeDeFi hybrids, where off-chain asset management bypassed blockchain transparency.
The simultaneous events underscore DeFi's bifurcated reality: protocol-level security tools are advancing, but systemic risks multiply when bridging traditional finance's black boxes. As the sector processes $231 million in combined losses, the partial recovery offers a blueprint for hardening defenses against future attacks.
