Ethereum price tops $3K as Fusaka upgrade boosts throughput and blobs

Ethereum's treasury demand has collapsed, creating significant overhead resistance between $3,100 and $3,200, which hinders Ether's recovery towards the $4,000 mark. This decline follows a broader trend of decreasing investor sentiment and market instability.

A wallet linked to BitMine has withdrawn 30,278 ETH from Kraken in anticipation of the upcoming Fusaka upgrade, reflecting a strategic move to optimize its cryptocurrency holdings. This withdrawal aligns with BitMine's recent activities, including significant acquisitions of Ethereum, which have bolstered its treasury position.

The cryptocurrency market has experienced a significant rebound this week, with Bitcoin surging past $93,000 and Ethereum climbing back above $3,000. This dramatic recovery follows a period of volatility, highlighting the resilience of these major digital assets amidst market fluctuations.

Jane Street has led a $105 million funding round for Antithesis, a testing tool utilized by the Ethereum network, as reported by CoinDesk. This investment highlights the growing interest in tools that enhance the functionality and reliability of blockchain technologies.

Corporate Ether acquisitions have significantly declined, with the largest corporate holder of Ethereum now acquiring billions in Ether, aiming to control 5% of the total supply. This unwinding of treasury trades represents an 80% reduction in previous activity, highlighting a shift in market dynamics.

The cryptocurrency market has experienced a significant rebound, with Bitcoin's price soaring above $92,000 and Ethereum reclaiming the $3,000 mark. This recovery follows a period of volatility and sharp selloffs earlier in the week, capturing the attention of investors and analysts alike.

Ethereum's price surged by 9% in anticipation of the upcoming Fusaka upgrade, which is expected to significantly enhance the network's scalability and efficiency. This upgrade is set to be implemented on December 3, 2025, following a challenging period for Ethereum, where its price had seen substantial declines.

BlackRock has transferred $135 million in Ethereum to Coinbase Prime, marking a significant step in the firm's ongoing integration of cryptocurrency into its investment strategies. This move reflects the growing institutional trust in digital assets and highlights BlackRock's commitment to adapting to the evolving financial landscape.