Ethereum Jumps 5% to $3,200 Amid Fusaka Upgrade and Whale Accumulation
Ethereum has seen a 5% surge over the past 24 hours, finally breaking back above $3,200, all thanks to the eagerly anticipated...
Quick overview
- Ethereum has surged 5% to over $3,200 following the launch of the Fusaka upgrade, which introduces PeerDAS technology to enhance transaction efficiency.
- The upgrade is seen as a significant advancement in Ethereum's roadmap, boosting optimism within the community amidst a competitive blockchain landscape.
- Shark wallets have accumulated over 450,000 ETH recently, indicating strong bullish sentiment among large investors.
- Analysts predict Ethereum could reach between $3,300 and $3,500 soon, depending on market support, while monitoring wallet activity remains crucial.
Ethereum has seen a 5% surge over the past 24 hours, finally breaking back above $3,200, all thanks to the eagerly anticipated Fusaka upgrade, which went live today. Fusaka, the second major upgrade to the Ethereum platform in 2025, does one major thing: it introduces a new piece of kit called PeerDAS technology, which lets validators split transactions into smaller chunks instead of big lumps. This reduces transaction costs and makes it easier to scale the network, thereby making it faster and cheaper for users and developers.
The upgrade marks a big step forward on Ethereum’s long-term roadmap. By making the network more efficient, Fusaka gives Ethereum a boost in a pretty crowded blockchain landscape and has people in the ETH community getting all optimistic.
Whale Accumulation Really Is Driving Ethereum’s Growth
Shark wallets, which hold between 1,000 and 10,000 ETH, have been instrumental in Ethereum’s recent gains – these wallets picked up over 450,000 ETH in November and December, suggesting that large investors are bullish.
Some of the key things going on in the network right now are:
- A massive 190,000 new wallets popped up in a single day, which is a real sign of growth.
- The big sell-off in October, which saw a million and a bit ETH sold, now looks small compared to the buying that’s been going on.
- The buying patterns of this group of whales have been spot-on in predicting Ethereum’s price rise.
This suggests that large investors are confident in Ethereum’s future, leading people to see it as a significant investment and a strong sign of future growth.
Can Ethereum Hit $3,500 Anytime Soon?
Right now, Ethereum is trading at $3,198 – it’s been bouncing off the $3,000 support zone and is still within an upwards price channel. If we look at the technical indicators, we get:
- RSI of 71, which is telling us that we’re in overbought territory.
- Chaikin Money Flow of 0.09, which suggests that buying is still going strong.
Analysts reckon that Ethereum might reach the $3,300 to $3,500 range in the coming days, provided it gets support. But if it does drop back down, we could see ETH revisit $3,000, but the overall momentum is looking strong.
Markets are keeping a close eye on wallet activity and price movements – if it keeps going up, we might see Ethereum keep on growing, all thanks to the Fusaka upgrade and those whales keeping on buying.
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