New York City Election Casts Shadow on Crypto and Blockchain Adoption

The election of Zohran Mamdani as mayor of New York City on November 4, 2025, has sent ripples through the cryptocurrency and blockchain communities. His victory, defeating Andrew Cuomo and Curtis Sliwa, has raised significant questions about the future trajectory of the city’s digital-asset ecosystem. Industry leaders are expressing concerns about whether this new leadership will lead to a halt in New York's blockchain adoption efforts. Amidst this backdrop of potential regulatory shifts, discussions around specific digital assets persist, with figures like the Ripple CEO addressing rumors related to XRP, indicating that community engagement remains active despite broader political uncertainties.

Ethereum Whales Accumulate Vast Amounts as Price Dips Below $3,400

In a contrasting market development, Ethereum (ETH) has demonstrated robust investor confidence. Following a price fall below $3,400 – a level not seen since August – large investors have strategically re-entered the market. Data indicates a substantial accumulation of ETH by these 'whales' within a short window, turning the correction into a significant buying opportunity. This strong accumulation trend is underpinned by fundamental progress within the network, as Ethereum recently recorded a new network throughput milestone. This development adds further strength to the asset's position, suggesting that major holders view the current price as undervalued and are positioning for future growth, regardless of broader regulatory anxieties impacting other sectors of the crypto market.