Ethereum activated its largest network upgrade of 2025 on Dec. 3, implementing the Fusaka hard fork that increased data capacity eightfold and drew immediate market interest. The price of ETH jumped following the launch, while corporate buyer BitMine disclosed a $150 million token purchase the next day.

What Happened: Network Capacity Expands

Ethereum's mainnet switched to Fusaka on Tuesday, merging the Fulu consensus layer with the Osaka execution layer to expand how the network processes and stores information.

The upgrade centers on two technical changes.

PeerDAS restructures data handling across nodes. The Ethereum Foundation claims that the change "unlocks 8x data throughput for rollups," the scaling networks that settle transactions on Ethereum's base layer. Higher throughput means rollups can process more activity at reduced cost.

The second component targets user experience. New cryptographic tools including the R1 curve and pre-confirmation mechanisms aim to speed transaction processing and clarify wallet interactions.

The foundation said improvements would benefit mobile users in particular.

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Why It Matters: Corporate Buying Follows Technical Progress

BitMine disclosed its $150 million Ether acquisition on Dec. 4, one day after Fusaka went live.

The treasury firm run by Tom Lee is accumulating toward a stated target of 5% of ETH's circulating supply. The company did not reveal its purchase price or execution method.

Analysts tracking the 12-hour chart show ETH testing resistance between $3,050 and $3,150 after bouncing from $2,630 in late November.

One technical analyst noted the zone previously blocked rallies and now serves as a critical test for buyers. If the level holds, the next price target sits near $3,650 to $3,700.

A breakdown would likely send ETH back toward $2,630, with stronger support around $2,400.

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