ETH exploded last night.

At around 5 a.m., Ethereum’s 17th major upgrade, Fusaka, quietly went live on the mainnet. It’s been only 7 months since the last Pectra upgrade—keep in mind, since the Merge, Ethereum has been on a “once-a-year” update schedule, and now it’s switched to every six months. Consensys has officially announced: double-speed hard forks are the new normal. The price took notice too, breaking above $3,200 at one point and still holding strong at the highs.

This isn’t just routine maintenance. With 9 core EIPs plus 4 supporting proposals, Fusaka might be the most powerful technical upgrade release in history.

First, the most practical part: L2 transaction fees are about to plummet. PeerDAS technology is now live, meaning nodes only need to store 1/8 of the data, but overall capacity can increase eightfold. L2s like Arbitrum and Base will start benefiting tonight—you might only pay a few cents per transaction on these networks—a 40% to 60% decrease is no exaggeration.

Next, L1 itself got stronger. The block gas limit jumped from 36M to 60M, and a single transaction can now use up to 16.78M gas. Network congestion at peak times? Confirmations so slow you start to question life? Those days are basically over.

The most interesting part is wallets. EIP-7951 adds support for passkeys and the secp256r1 curve, so soon you’ll be able to open your wallet with facial recognition or a fingerprint—just like unlocking your phone. MetaMask and others are already working on the integration. Once this rolls out, even your mom will be able to use DeFi with no barriers.

To put it plainly, Fusaka is taking Ethereum from a “techie toy” to a “financial tool regular people can use.” L2 fees are down, mainnet speed is up, and wallet barriers are gone.

The dividends are already being released. The only question now is: after holding above $3,200, will the price keep going up, or is this a classic “buy the rumor, sell the news” moment for a pullback? What do you think?