Ethereum has crossed the $3,200 level, reflecting renewed confidence across the market. Data from Santiment shows that large investors holding 1,000 to 10,000 ETH have resumed steady accumulation. These shark wallets have played a major role in driving Ethereum’s performance throughout the year, signaling strong belief in long term growth.
Alongside price movement, Ethereum has added 190,000 new wallets in a single day, marking one of the largest spikes in network activity. This rapid increase highlights rising demand from both retail users and developers who continue to build within the Ethereum ecosystem.
ETH’s upward move aligns with the rollout of the Fusaka upgrade, Ethereum’s latest major hard fork. Vitalik Buterin praised the developers for years of work that made this upgrade possible. Fusaka merges two key components, Fulu and Osaka, designed to improve network scalability and efficiency.
The Fusaka upgrade focuses on expanding data availability for Layer 2 solutions such as Arbitrum, Optimism, and Base. This results in cheaper, faster, and more scalable transactions while maintaining decentralization. By strengthening L2 performance, Fusaka positions Ethereum for broader adoption through lower costs and higher throughput.
