Fusaka Upgrade Lands Tomorrow — Ethereum Set to Gain Strong L2 Data Flow and Sharper Gas Controls

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.

Bitmine has continued its aggressive acquisition strategy by purchasing an additional 7,080 ETH, despite Ethereum's recent price drop below $2,800, which has raised concerns about a potential bear market. This decline has intensified selling pressure, leading to a struggle for buyers to maintain key support levels.

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.

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.

An Ethereum ICO participant has sold 23,000 ETH within a week, a move that may indicate shifting market confidence and could influence Ethereum's price stability and investor sentiment. This significant sale follows a period of heightened trading activity in the cryptocurrency market.