Ethereum rallied sharply on Wednesday, climbing more than 12% in 24 hours and breaking above the $3,100 mark for the first time since mid-November.
The upswing came as the broader crypto market responded to renewed optimism following a fresh $13.5 billion U.S. Federal Reserve stimulus injection into the U.S. banking system.
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But for Ethereum, the timing aligned with an even more significant catalyst: the upcoming Fusaka network upgrade.
Fusaka Upgrade Approaches
Fusaka is scheduled to go live on the Ethereum mainnet at slot 13,164,544 on December 3, 2025, at 21:49:11 UTC.
It is the first major network overhaul since Pectra and merges the Osaka execution-layer improvements with the Fulu consensus-layer changes, aiming to deliver a faster, more efficient, and more developer-friendly Ethereum.
Developers view Fusaka as a key milestone in Ethereum’s long-term scaling roadmap.
At the center of the upgrade is PeerDAS, a new data-availability system designed to optimize how layer-2 networks process and store data. By significantly reducing node storage requirements, PeerDAS could boost scalability by as much as eightfold, according to core developers.
Fusaka also brings a more flexible mechanism for adjusting blob capacity between major upgrades, alongside an updated blob fee formula meant to stabilize data costs during periods of heavy network congestion.
Institutional Reactions Differ
Despite today’s upward price action, institutional activity around ETH shows contrasting approaches.
On-chain data from the Lookonchain data tracker indicates that a wallet potentially linked to BitMine withdrew 30,278 ETH, or roughly $91 million, from Kraken.
The move aligns with BitMine’s aggressive strategy: the publicly traded blockchain-infrastructure firm is building one of the largest ETH treasuries in the market. BitMine has openly stated its goal of accumulating up to 5% of Ethereum’s total supply, positioning itself as a major corporate ETH holder.
Meanwhile, another heavyweight player, BlackRock, reportedly transferred 44,140 ETH, thus around $135 million, to Coinbase Prime.
Why this matters
Fusaka is a major Ethereum network upgrade that could fundamentally improve scalability, efficiency, and developer usability, making the blockchain faster and cheaper to use, especially for Layer-2 applications.
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People Also Ask:
Fusaka is Ethereum’s next major network upgrade, scheduled for December 3, 2025. It merges Osaka execution-layer improvements with Fulu consensus-layer changes to enhance speed, efficiency, and scalability.
The upgrade introduces PeerDAS, reducing node storage requirements, potentially increasing network scalability up to eightfold. It also stabilizes data costs and allows flexible blob capacity expansion.
Historically, major Ethereum upgrades have generated market anticipation, often leading to price movements. Fusaka’s efficiency and scalability improvements may boost investor confidence and adoption.
The upgrade is scheduled for slot 13,164,544 on December 3, 2025, at around 21:49:11 UTC.
