The Ethereum network will undergo a major upgrade codenamed “Fusaka” on December 3, which is considered the most important technical advancement of the year since the Pectra upgrade in May. The core of this upgrade lies in the implementation of PeerDAS (Peer-to-Peer Data Availability Sampling), which will fundamentally change the way the network collects and verifies Layer 2 data, and is expected to increase block data capacity by up to 8 times, making Rollup transactions cheaper and the network more scalable.
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Despite the imminent upgrade, market opinions are divided: Ethereum’s price rebounded nearly 10% to around $3,020 on Tuesday, but some predictions suggest it may first drop to $2,500, while long-term bulls like Tom Lee believe it could reach highs of $7,000 to $9,000 in early 2026.
Technical Core: How Will PeerDAS Reshape Ethereum’s Data Availability?
The Fusaka upgrade going live tonight is far from a simple parameter adjustment; it is a paradigm shift in Ethereum’s underlying data validation mechanism. It all centers on an Ethereum Improvement Proposal called PeerDAS (Peer Data Availability Sampling, Peer-to-Peer Data Availability Sampling), EIP-7594. Ethereum Foundation researcher Ansgar Dietrichs stated in a video release: “PeerDAS—this is really the cornerstone of this fork. At its core, it fundamentally changes the nature of the chain.”
To understand PeerDAS’s revolutionary nature, we need to review its predecessor. The 2024 Dencun upgrade first introduced the concept of Blobs (data blocks), allowing Layer 2 networks to temporarily store data instead of permanently putting it on-chain, which greatly reduced gas fees. However, the original mechanism required nodes to download the entire blob data for verification. The brilliance of PeerDAS is that it allows validators to verify the availability of the whole data set with high probability by randomly sampling only a small portion of the data. It’s like tasting a few spoonfuls of soup to judge the flavor of the whole pot, rather than drinking it all.
This change brings a qualitative leap. First, security is not compromised—cryptographic sampling ensures the authenticity and availability of the data. Second, scalability is vastly improved. With reduced node load, the network can safely increase the blob capacity per block. It is estimated that Fusaka will boost blob capacity by up to 8 times. SSV Labs co-founder Alon Muroch commented: “Overall, Fusaka is a key step toward an interoperable Ethereum, allowing rollups to function as a cohesive ecosystem under Ethereum’s security guarantees.” This moves toward the goal articulated by Ethereum founder Vitalik Buterin, that Layer 2—and ultimately Layer 1—scaling is key.
Price History: Are Technical Upgrades Market “Steroids”?
Whenever Ethereum announces a major technical upgrade, the market tends to associate it with a potential price catalyst. Historical data does provide some optimistic precedents. Looking back at the Pectra upgrade this May, Ethereum’s price surged more than 30% in the days following its implementation. This “upgrade equals rally” pattern stems from market expectations of fundamental network improvements, typically attracting fresh attention and funds from both developers and investors.
So, can the Fusaka upgrade replicate or even exceed this performance? In terms of technical significance, Fusaka is widely seen as a more substantial infrastructure improvement than Pectra. It directly addresses Ethereum’s core bottleneck—data availability and rollup costs—whose success will benefit the vast majority of regular users interacting with today’s Layer 2 ecosystem. Ethereum Name Service co-founder Nick Johnson pointed out that this “is also a sign of Ethereum’s maturity; upgrades now focus on efficiency, decentralization, and resilience.”
Some institutional investors seem to be positioning ahead of time. For example, crypto mining firm BitMine announced this Monday that it purchased an additional 96,798 ETH ahead of the upgrade, showing confidence in long-term value after the upgrade. Such institutional moves often boost market sentiment. However, it is important to recognize that today’s macro market environment differs significantly from May, with global liquidity expectations and risk appetite both having changed, adding uncertainty to the “upgrade narrative.”
Fusaka Upgrade Key Data and Market View Overview
Upgrade Activation Time: December 4 (Beijing Time)
Core Technology: PeerDAS (EIP-7594), changing from full download verification to random sampling verification
Core Enhancement: Blob data capacity per block is expected to increase by up to 8 times
User Impact: Layer 2 network transaction costs are expected to decrease further, with increased speed
Current Ethereum Price: About $3,020 (as of December 3)
Recent Upgrade Impact: Over 30% price increase in the days following the Pectra upgrade in May
Short-term Bearish View: Possible pullback to $2,500 support
Long-term Bullish View: Fundstrat’s Tom Lee believes 2026 could see $7,000–$9,000
Market Divergence: Short-Term Pullback Pressure vs. Long-Term Trillion-Dollar Vision
Despite the clear upgrade benefits, the crypto market never follows a simple linear logic. Currently, analysts are sharply divided on Ethereum’s short-term price trend, forming the classic “short-term correction, long-term brilliance” pattern. From a technical chart perspective, CCN analyst Valdrin Tahiri notes that while Ethereum recently broke through a descending wedge pattern, it failed to sustain the rally and is now attempting to validate the upper edge of the wedge as support. If successful, the price could target the $3,500 resistance area.
However, Tahiri also cautiously notes that based on Ethereum’s long-term indicators, such a rebound “seems unlikely.” More market forecasting platforms show that investors are not optimistic about the short-term trend. For example, on prediction platform Myriad, most participants believe Ethereum is more likely to fall to $2,500 before jumping to $4,000. This widespread caution reflects a fragile market psyche after months of correction, where any good news may be used as an excuse to “sell the rally.”
In contrast, senior strategists offer grand long-term visions. Fundstrat’s Tom Lee recently painted an attractive picture: while he warns that Ethereum could fall to around $2,500 in the short term, he believes this downside is “trivial” compared to the potential upside. He is convinced that Ethereum’s price could reach $7,000 to $9,000 in early 2026. The logic behind this view is that ongoing technical upgrades like Fusaka are laying a solid foundation for Ethereum to realize its trillion-dollar vision as the “global settlement layer” and “decentralized application platform.” Short-term price swings may be mere ripples compared to years of technical evolution.
Looking Ahead: From Fusaka to Glamsterdam, Where Does the Upgrade Path Lead?
The Fusaka upgrade is not the end, but another important milestone in Ethereum’s ongoing evolution. The developer community is already eyeing the next major upgrade—Glamsterdam, planned for 2026. According to current information, Glamsterdam will continue to push scalability, with key features including further Layer 1 network expansion and optimization of blob-related mechanisms. This shows that Ethereum’s roadmap is coherent and purposeful: through a series of iterative upgrades, systematically solving the “impossible trinity” of scalability, security, and decentralization.
From Dencun’s introduction of blobs, to Pectra’s validator economics and account abstraction optimization, to Fusaka’s revolutionary data availability sampling, Ethereum is demonstrating the pace of a mature blockchain platform: avoiding one-off “hard fork revolutions” and instead moving forward solidly through continuous, gradual, and sometimes even obscure technical improvements. As Nick Johnson said, this makes the base layer better able to support long-term growth without compromising Ethereum’s enduring strengths.
For investors and developers, understanding this upgrade path is more important than guessing short-term price swings. Each successful upgrade lowers the barrier to participation in the ecosystem and increases the utility of the network, attracting more users, capital, and innovation. This “value accumulation” path is the fundamental logic underpinning Ethereum’s long-term price.
As Fusaka’s code quietly activates tonight, Ethereum will complete another silent yet profound self-renewal. The market may make noise over short-term price moves, but the real transformation happens on-chain: more efficient data sampling, larger block space, and cheaper rollup transactions. These technical details together form the solid foundation of Ethereum as the “world computer.” History tells us that technical upgrades are not always instant price rockets, but they are the essential nutrients for the long-term survival and prosperity of a value network. Amid the tug-of-war between short-term volatility and long-term vision, Fusaka is more like a planted seed, whose fruit—a more efficient, connected, and vibrant Ethereum ecosystem—will gradually mature over the coming quarters and years. For those who believe in code and network effects, tonight is worth remembering; for those focused only on price jumps, the real show may just be starting.
