The cryptocurrency market has once again experienced a significant downturn. Ethereum, the second-largest cryptocurrency by market capitalization, has fallen below the crucial $3,000 psychological support level. Concurrently, Bitcoin has dropped below its $90,000 support mark.
Ethereum is currently trading at approximately $2,968, showing a 6.57% increase over the past 24 hours. While traders had anticipated a strong follow-through from the recent recovery, many now believe that ETH trading at $3,000 may be a relic of the past.
Amidst this bearish pressure on Ethereum, a banking presale project named Digitap ($TAP) is experiencing a surge in interest. The project is introducing what it claims to be the world's first omnibank, powered by an innovative multi-rail infrastructure. In its ongoing presale, Digitap has successfully raised over $2.2 million. As Ethereum faces bearish pressure, $TAP is positioning itself as a potentially significant presale token for 2025.
Ethereum Price Falls Under $3,000 Amidst Fusaka Upgrade Preparations
Despite a notable rebound in the preceding week, Ethereum has struggled to maintain its position above the critical $3,000 threshold. Following one of its worst Novembers since 2018, ETH entered December with its price declining below $2,810, indicating a bearish trend.
On the hourly timeframe, a decisive break below a rising channel pattern triggered a bearish counterattack. This pattern had established strong support around the $2,990 level. However, after its breakdown, the price experienced a sharp decline, losing over 6% in a matter of hours.
A low was subsequently formed at $2,808, and the price continues to exhibit bearish signs, with $2,800 acting as an immediate support level. Technical analysis suggests that a break below this support could lead to a further price drop towards the November low of approximately $2,600.
Ethereum encountered significant selling pressure precisely as the network was preparing for its upcoming Fusaka upgrade, scheduled for early December 2025. This upgrade is considered a crucial milestone, aiming to reduce gas fees, enhance processing speeds, and simplify development on the Ethereum network without compromising its core principles of decentralization or security.
Tom Lee, the Chairman of BitMine Immersion Technologies, interprets these price fluctuations as part of a broader "supercycle." In his view, Ethereum's decline from nearly $4,800 to below $3,000 is not indicative of weakness. Instead, he characterizes it as a necessary "final shakeout," designed to clear out short-term speculation and allow the market to reset before the commencement of the next significant upward trend.
Digitap Aims to Revolutionize Banking by Addressing Traditional Bank Shortcomings
With the Ethereum price exhibiting considerable uncertainty, investors are actively seeking out projects that demonstrate resilience and growth potential. Digitap, which positions itself as the world's first omnibank, is currently leading the crypto presale market. The platform aims to provide an innovative and simplified solution to the complex banking methods that users have found increasingly unsatisfactory.
The Digitap platform utilizes a multi-rail architecture that integrates traditional fiat currency and cryptocurrency spending into a single, unified system. The challenges of cross-border money transfers remain significant, with high costs and lengthy processing times. The World Bank reports an average fee of 6.2% for remittances, and these transfers can take up to five business days to complete. With global remittances projected to exceed $860 billion in 2025, these delays and substantial fees result in billions of dollars in value being lost annually.
Digitap presents a practical solution to these issues. Rather than launching with only conceptual plans, the project already features a functional application available on both the Apple App Store and the Google Play Store. Users can download the app, create an account, initiate payments, and generate virtual cards. While many presale projects begin with a roadmap and a concept, Digitap is launching with a product that is already operational.
The project's partnership with Visa further enhances its credibility and user convenience. The new Digitap Visa co-branded debit card enables users to conduct transactions wherever Visa is accepted. If users opt to pay with cryptocurrency, the Digitap application seamlessly converts the required amount into fiat currency at the point of sale.
Black Friday Promotions Boost Demand for Digitap ($TAP) as a Top Presale Opportunity
The preceding weekend set the stage for Digitap's significant Black Friday promotion, a 96-hour campaign that included hourly bonuses, surprise rewards, and a total prize pool exceeding $1 million. This launch occurred at an opportune moment. With shifting cryptocurrency prices and the year drawing to a close, investors are actively searching for the most promising crypto assets to acquire.
Currently, the $TAP token is one of the most actively traded presale tokens in the market. Round 2 of the presale is priced at $0.0334, and the project's official dashboard indicates that over $2.2 million has been raised, with 136.8 million $TAP tokens sold.
The strong demand, amplified by the excitement surrounding the Black Friday event, has prompted market participants to consider the project with greater seriousness. With a projected launch value of $0.14, early investors could potentially see returns of approximately 319%. This potential for substantial gains is a primary reason why many traders now view $TAP as one of the top cryptocurrencies to invest in.