Ether, the native coin of the Ethereum blockchain, is the best performer among the top 10 cryptocurrencies by market cap.
It is up 4.5% in the last 24 hours and is now trading above $3,200.
The positive performance comes following the activation of the Fusaka upgrade, the second major upgrade by the network in 2025.
The upgrade will usher in PeerDAS and a host of other features.
Ethereum activates the Fusaka upgrade
Ether is currently trading above $3,200, outperforming the broader cryptocurrency market, thanks to the activation of the Fusaka upgrade.
The upgrade was activated at 21:49 UTC on Wednesday and finalised roughly after 15 minutes.
According to the technical document, Fusaka is set to help Ethereum handle the increasingly large transaction batches coming from the layer-2 networks that settle on top of it.
This upgrade bundles two hard forks on Ethereum happening at the same time: one on the consensus layer and one on the execution layer.
PeerDAS is the primary feature of this upgrade. It is a system that lets validators check small slices of data rather than entire “blobs.”
PeerDAS is designed to reduce both costs and computational load for validators and layer-2 networks.
Ethereum developers are optimistic that Fusaka will lower the barrier to entry for smaller or newer validator operators by reducing the resources required to run just a few validators.
While PeerDAS is the primary feature, the upgrade also contains 12 other Ethereum Improvement Proposals (EIPs). They are;
- EIP-7642: Removes old fields from Ethereum’s networking messages to simplify and clean up the protocol.
- EIP-7823: Sets a maximum limit on how big certain math operations can be.
- EIP-7825: Sets an upper cap on how big a single transaction can be.
- EIP-7883: Makes a specific type of math operation more expensive in gas to ensure heavy calculations don’t unfairly strain the network.
- EIP-7892: Allows future upgrades to change only blob-related settings without affecting the entire protocol.
- EIP-7910: Adds a new API method that lets software easily check what configuration or rules a node is using.
- EIP-7917: Ensures transparency and reliability in the process of predicting who will propose the next blocks.
- EIP-7918: Makes sure blob data fees stay aligned with the actual cost of processing them.
- EIP-7934: Adds a strict size limit to certain block data.
- EIP-7935: Raises the default block gas limit to 60 million.
- EIP-7939: Includes a simple new instruction for smart contracts that lets them improve efficiency for some calculations.
- EIP-7951: Adds built-in support for a widely used cryptographic signature type.
ETH could rally to $3,500 if the bullish trend persists
The ETH/USD 4-hour chart is bullish and efficient as Ether has performed excellently over the past few days.
The technical indicators are also bullish, suggesting that the coin could rally higher in the near term.
The MACD lines flashed into the bullish region on Tuesday, indicating that the buyers are now in control.
The RSI of 59 is above the neutral 50, adding more bullish confluence for Ether.
If the rally continues, ETH could push above the $3,251 resistance and hit the next major level at $3,500 over the next few hours or days.
However, if the market undergoes a correction, ETH could lose steam and test the resistance-turned-support level at $2,982.
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