Bitmine Continues Ethereum Buying Spree With Fresh 7,080 ETH Purchase

Ethereum's open interest has plummeted by 51%, dropping from an all-time high of $12.6 billion to $6.2 billion, as nearly $6.4 billion in derivative positions have vanished. This decline follows a significant drop in Ethereum's price, which has fallen below the $2,800 mark, causing heightened panic among investors and raising concerns about a potential bear market.

The cryptocurrency market is experiencing a downturn, with Bitcoin leading the decline, causing Ethereum and Dogecoin prices to follow suit. Analysts speculate that the market may be entering a bear trend after a prolonged period of growth, although some predict a potential price pump could occur before this trend solidifies.

Ethereum's Fusaka upgrade is set to launch on December 3, 2025, introducing significant enhancements in scaling, security, and user experience, which are expected to improve the overall efficiency of the network.

Bitcoin long-term holders have seen their supply increase for the first time since April, indicating a potential shift in market sentiment. This uptick in the 6-month inactive supply suggests that investors are holding onto their assets rather than selling, which is often seen as a bullish sign in the cryptocurrency market.

Ethereum co-founder Vitalik Buterin has allocated a grant of 256 ETH, approximately $760,000, to two privacy-focused messaging applications, Session and SimpleX Chat, emphasizing the importance of user privacy in digital communications.

AI agents, including GPT-5 and Claude, have demonstrated the ability to exploit vulnerabilities in Ethereum smart contracts, raising significant concerns about the economic risks posed by autonomous cyber capabilities in the cryptocurrency sector.

XRP has recently experienced a surge in activity, marking one of its strongest growth waves despite facing bearish pressures that have kept its price around the $2 mark. The cryptocurrency's engagement remains robust, indicating a significant interest from traders even as the broader market experiences a pullback.

Ethereum's upcoming Fusaka upgrade is set to enhance the network's scalability and efficiency, moving away from traditional hard forks to more strategic, targeted changes. This upgrade is scheduled for implementation on December 3, 2025, and is expected to significantly improve the blockchain's capacity to handle increased transaction throughput from layer-2 solutions.