Ethereum Fusaka Upgrade Boosts ETH Price Above $3,200

The activation of Ethereum’s Fusaka upgrade at block height 18,200,000 marks the network’s second major technical overhaul of 2025, refocusing attention on its long-term scaling capabilities. At the heart of this update is PeerDAS (Peer Data Availability Sampling), a system that fundamentally changes how nodes handle data. Instead of storing entire payloads of blob data, nodes now store only slices, a technical shift estimated to expand blob throughput by roughly eight times.

This enhancement is designed to directly ease network congestion and empower layer-2 networks, allowing them to push more transactions through Ethereum’s base layer more efficiently. Beyond PeerDAS, the Fusaka upgrade bundles several Ethereum Improvement Proposals that tweak gas limits, transaction sizes, and block configuration. The collective aim is to improve overall network efficiency while keeping hardware requirements for validators manageable, aligning the main chain’s development with the explosive growth of layer-2 activity.

Concurrent with the technical upgrade, on-chain data reveals a significant accumulation trend among large Ethereum holders. So-called ‘shark’ wallets, holding between 1,000 and 10,000 ETH, have been buying aggressively during recent price dips in the $2,700 to $3,000 range. This activity suggests that sophisticated players are positioning themselves ahead of and following the Fusaka activation.

Institutional interest appears to be rising in tandem. Notably, BitMine has reportedly added more than 18,000 ETH to its corporate treasury in anticipation of the upgrade. Furthermore, U.S. spot Ethereum ETFs have recorded notable net inflows, indicating a broadening of demand beyond the traditional crypto-native investor base. This combination of whale accumulation and institutional activity provides a fundamental counter-narrative to the broader ‘Fear’ sentiment still indicated by general market gauges.

On the charts, Ethereum has responded positively to these developments. In the 24 hours following the upgrade, ETH climbed approximately 4–5%, outperforming most other large-cap cryptocurrencies and firmly reclaiming the psychologically important $3,200 zone. Rising trading volumes have accompanied this move, adding technical credibility to the breakout.

Analysts are now watching the next critical resistance band between $3,300 and $3,500. Some short-term price models project a move toward the $3,537 level, implying a potential upside of about 10% from current levels if the bullish momentum holds. However, the broader technical setup remains mixed, with many indicators still labeled ‘bearish.’ This creates a precarious balance; any failure to sustain momentum could see ETH retest support levels at $3,100, $3,000, or even the $2,850 zone.

For now, the successful deployment of the Fusaka upgrade has successfully shifted the conversation back to Ethereum’s fundamentals and roadmap. The immediate challenge for ETH price action is to determine whether this renewed confidence in the network’s technical progress is sufficient to catalyze a decisive break through the formidable $3,500 barrier, setting a new stage for its market performance.