Ethereum Fusaka Upgrade Boosts Price as Corporate Buyer Buys $150M

Ethereum's mainnet upgraded to Fusaka on December 3, merging two technical layers and expanding network capacity eightfold. The upgrade centers on improvements to data handling across nodes through a change called PeerDAS.

The Ethereum Foundation claims this will unlock an eight times increase in data throughput for rollups, which settle transactions on the base layer at reduced cost. New cryptographic tools also aim to speed up transaction processing and clarify wallet interactions, particularly benefiting mobile users.

Following Fusaka's activation, corporate buyer BitMine disclosed a $150 million Ether acquisition on December 4, one day after the upgrade went live. The firm is accumulating towards a target of 5% of ETH's circulating supply.

Analysts tracking the 12-hour chart show ETH testing resistance between $3,050 and $3,150 after bouncing from $2,630 in late November. If this level holds, the next price target sits near $3,650 to $3,700, while a breakdown would likely send ETH back toward $2,630 with stronger support around $2,400.