Earlier this Tuesday, the price of Ethereum (ETH) rose above the $3,200 mark, CoinGecko data shows.
According to analytics firm Santiment, this growth can be attributed to shark wallets that hold between 1,000 and 10,000 ETH (roughly $3.2–32 million at current prices).
This group of influential investors has been steadily accumulating ETH.
HOT Stories Crypto Market Prediction: XRP's Mythical 1,100% Activity, Bitcoin's Upside Setup Strengthens, Shiba Inu's (SHIB) Razor-Sharp Reversal WindowRipple CTO Shares Hilarious Email from Jed McCaleb Impersonator XRP Now Offered by Vanguard, Bitcoin Price on the Verge of 40% Crash, Dogecoin Prints 528,408% Liquidation Imbalance – Crypto News DigestMorning Crypto Report: XRP to Break First ETF $1 Billion This Week, Shiba Inu (SHIB) Teases 29% Price Upside, Bitcoin to $125,000 Is Main Scenario Now: Bollinger Bands
As noted by Santiment, these wallets have been the “key alpha” for the second-largest altcoin throughout this year.
The network has added 190,000 new wallets in a day is a large spike, which shows strong demand.
Fusaka upgrade
The most recent price spike has coincided with the launch of the Fusaka upgrade, which is Ethereum's latest major network hard fork.
Co-founder Vitalik Buterin recently took to the X social media network to congratulate Ethereum researchers and developers.
"Big congrats to the Ethereum researchers and core devs who worked hard for years to make this happen," Buterin said on X.
You Might Also Like
Wed, 12/03/2025 - 18:46 $135 Million in Ethereum Sold by BlackRock Amid Crypto Market ResurgenceByCaroline Amosun
The upgrade was successfully activated on mainnet on Dec. It combines two upgrades: "Fulu" (the consensus layer named after a variable star in the constellation of Cassiopeia) and "Osaka" (the execution layer named after the city hosting Devcon 2025).
This is Ethereum's second big upgrade of 2025, following Pectra in May.
Fusaka focuses on scaling data availability for Layer 2 (L2) rollups (e.g., Arbitrum, Optimism, Base) while keeping node operation affordable and decentralized.
Fusaka primarily benefits L2 ecosystems: more data capacity means cheaper and faster transactions on rollups.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
