Ethereum Hits $3,230 as Mid-Tier Holders Accumulate Following Fusaka Upgrade

Ethereum reached $3,230 on December 5, 2025, its highest level in three weeks, driven by accumulation from wallets holding 1,000 to 10,000 ETH. Data show the rally coincided with the successful Fusaka upgrade deployment on December 4, which enhanced layer-1 performance and expanded blob capacity. The network recorded 190,000 new wallet addresses in a single day.