ETH(Ethereum)24-hour increase of 6.45%

Gate News Bot message, December 4: According to CoinMarketCap data, as of press time, ETH(Ethereum) is currently priced at $3,206.25, up 6.45% in the past 24 hours, reaching a high of $3,238.56 and a low of $2,720.44, with a 24-hour trading volume of $31.16 billion. The current market cap is approximately $386.98 billion, up $23.458 billion from yesterday.

Ethereum is a leading platform for innovative applications and blockchain networks. It provides the infrastructure for decentralized applications (DApps) and smart contracts, enabling developers to build a wide range of applications, including finance, gaming, and social networking. Ethereum aims to create a more open and unbiased financial system, allowing billions of people to freely use funds and serving as a central hub for blockchain innovation.

Recent key news about ETH:

1️⃣ Fusaka upgrade successfully activated, boosting network scalability Ethereum successfully completed the Fusaka upgrade in the early hours of December 4. This upgrade introduces PeerDAS technology, optimizing rollup data processing efficiency and increasing the block gas limit from 45 million to 60 million. This will significantly improve network scalability and transaction throughput, potentially reducing L2 network fees by 40% to 60%, providing users with a faster and lower-cost on-chain experience.

2️⃣ Tom Lee makes another large ETH purchase, demonstrating institutional investor confidence Bitmine, led by Wall Street strategist Tom Lee, has again purchased $150 million worth of ETH. Bitmine now holds more ETH than the combined holdings of 68 other treasury companies, making it the largest corporate holder of Ethereum. This move reflects some institutional investors’ optimism about ETH’s long-term value.

3️⃣ Vitalik proposes key 2025 upgrade plan to enhance protocol security Ethereum founder Vitalik Buterin has announced a major upgrade plan for 2025, proposing to set a single transaction cap at 16,777,216 gas. This “hard invariant” aims to reduce DoS risks, simplify client code, and open up more possibilities for future efficiency improvements. This reflects Ethereum’s ongoing commitment to optimizing network security and scalability.

From a technical perspective, ETH price has broken through the $3,200 mark, but resistance remains in the $3,500-$3,800 range. Fundamental improvements may provide upside momentum for ETH, but market sentiment remains cautious, and prices may fluctuate in the short term.

This message does not constitute investment advice. Please be aware of market volatility risks when investing.