Ethereum completes the Fusaka upgrade, price skyrockets 6.8% to 3,200 USD
Ethereum (ETH) is leading the market surge with a jump of 6.8%, trading around 3,200 USD after activating the Fusaka upgrade – one of the largest updates this year. This upgrade shifts to a hard fork schedule of twice a year, improves network efficiency, reduces node costs, and increases transaction speed, providing an "instant feel" for users. The ETH ETF capital has surged, with Tom Lee purchasing an additional 150 million USD in ETH, while BitMine Immersion Technologies added 70 million USD. Vitalik Buterin proposed a new fixed rule to enhance security. However, gas fees remain low due to increased Layer-2 activity, and investors warn of risks from excessive leverage. This event reinforces ETH's position as the leading DeFi platform, with price forecasts potentially reaching 4,500 USD by the end of the year.
