Ethereum 24-hour Highlights: Fusaka Upgrade Drives Price Surge
On December 5, 2025, Ethereum (ETH) made a strong rebound in the past 24 hours, with the price rising over 7% from its low, surpassing the $3100 mark, and achieving a 24-hour increase of 7.15%. The trading volume soared to $29.5 billion, setting a recent record high. The core catalyst was the successful activation of the Fusaka network upgrade last night, which introduced PeerDAS technology, increasing Layer 2 data throughput by 8 times while reducing L2 fees by up to 60%. This optimization not only strengthened Ethereum's scalability but also ignited the vitality of the DeFi and NFT ecosystems, with user activity surging: 190,000 new wallets were added within 24 hours, 35% higher than the average level.
Institutional funds flocked in, with ETH spot ETF recording a net inflow of $140.2 million, far exceeding BTC's outflow of $14.9 million. Whale wallets (holding 1K-10K ETH) continued to increase their holdings, demonstrating confidence. Social sentiment is high, with ETH mentions on platform X ranking prominently, and an active score of 4.3/5. Several analysts are optimistic about its year-end target range of $3900-$4000, potentially reaching $45,000 in the long term. Cointelegraph reported that Fusaka marks Ethereum's transition from the 'Big Bang' hard fork to a more agile iteration, consolidating its dominance in smart contracts.
Despite this, weak demand for derivatives and the rise of competing chains have made some traders cautious. If it falls below the $3000 support, it may short-term pull back to $2800. Overall, Fusaka adds fuel to the fire, helping ETH break free from stagnation and ushering in a new bull market era. Investors should manage risks and embrace the upgrade dividends.
