Santiment described these addresses as “the main price indicator of 2025.” The network also gained 190,000 new wallets in a single day. This growth reflected a rapid expansion in on-chain activity. It also showed that Ethereum still maintains one of the strongest demand flows across the ecosystem. The data boosted expectations for short-term volatility. It further highlighted how investor behavior shifted after the upgrade.

Fusaka Upgrade Opens a New Phase for the Ethereum Ecosystem

The Fusaka upgrade improved performance and reduced rollup costs. It created a smoother connection between Layer-1 and Layer-2 infrastructure. Developer Terence Tsao confirmed the upgrade progressed without issues. He also said L2 chains continued to send blobs without interruption. His comments strengthened market expectations. They also highlighted developer confidence in the network.

“Fusaka went well and L2s kept sending blobs without disruption. Thanks to all teams, L1 and L2 now operate like a single machine.”

Fusaka is viewed as a milestone in Ethereum’s rollup-centric roadmap. The update expanded blob capacity and made transactions cheaper. It also strengthened user experience across decentralized applications. Bankless founder Ryan Sean Adams summarized the current momentum with strong remarks. He said developer motivation reached levels unseen since the Merge. This sentiment supported long-term optimism.

Meanwhile, daily gas usage exceeded 200 billion units on 3 December. It reached an all-time high on the same day Fusaka activated. This record revealed rising network activity. It also reflected strong demand for on-chain services.

Institutional Demand Builds as ETH/BTC Ratio Nears a Key Level

Market analysts pointed to new signals supporting Ethereum’s price direction. Ted Pillows noted that the ETH/BTC ratio approached a critical threshold. He added that reclaiming the 50-week exponential moving average could strengthen momentum. This move may also support altcoin markets. Analysts said institutional positioning became more visible. They emphasized that large moves often precede trend acceleration.

Institutional activity increased during the week. Tom Lee continued regular purchases and BitMine executed its third major ETH buy. Arkham Intelligence recorded two new wallets withdrawing 92 million dollars from Kraken and 58 million dollars from BitGo. BitMine now holds roughly 3.73 million ETH. This position reinforced market confidence. It further signaled long-term accumulation behavior among large entities.

Short-term charts showed 3,300 dollars as strong resistance. Meanwhile, support at 2,970 dollars remained intact. Analysts said price moves above this zone maintained a constructive outlook. Pullbacks were viewed as normal corrections. They added that trend strength relied on sustained network growth and institutional inflows.

Key Indicators to Watch in the Coming Sessions

The following metrics will guide Ethereum’s short-term outlook:

• Sustained price action above 3,300 dollars

• The protection of the 2,970-dollar support zone

• Network expansion and institutional inflows

• ETH/BTC ratio movements shaping broader market sentiment

• On-chain activity responding to the Fusaka upgrade

Ethereum’s rising network usage, strong investor demand and Fusaka-driven technical improvements shaped a positive market picture. These factors supported bullish expectations as the year approached its final weeks. Investors also focused on behavior signals from mid-sized whales. Their actions may continue to influence the broader market trend.,

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Gradual Expansion of Blob Capacity

The Fusaka upgrade will bring in 12 different Ethereum Improvement Proposals (EIPs) aimed at enhancing scalability, reducing transaction costs, and strengthening security.

However, the expansion of blob capacity will be rolled out in stages rather than all at once:

• December 17, 2025: First blob capacity increase

• January 7, 2026: Second blob capacity increase

Ethereum researcher Christine D. Kim confirmed that, following these two hard forks, blob capacity will expand to more than double its current level.

Why Fusaka Matters

Fusaka is designed to manage Ethereum’s transaction load more efficiently. A key feature of the upgrade is the use of blobs—large chunks of data that can be stored off-chain. This mechanism is expected to speed up layer-2 networks and reduce fees for users.

By improving how blockchain data is processed, Fusaka is set to make Ethereum far more scalable over the long term. This could result in lower costs for users and broader opportunities for developers.

Testnets and Security Measures

Before Fusaka is implemented on the mainnet, it will undergo three public testnet phases running from mid-October through mid-November.

In addition, the Ethereum Foundation has launched a four-week code audit program with $2 million in rewards allocated for identifying potential bugs.

Validator Exit Queue Hits Record Levels

Alongside preparations for Fusaka, the Ethereum network has experienced another significant milestone. Last week, more than 2.6 million ETH (around $12 billion) entered the validator exit queue, setting an all-time high.

The queue has stretched as long as 43 days, sparking debate within the community. While some argue for reducing the wait time, Ethereum co-founder Vitalik Buterin emphasized that longer queues are essential for safeguarding the network’s security.

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