Solana rose 12.05% to $142 on December 2, 2025, driven by $45.77 million in net inflows to U.S. spot ETFs and a 10.61% increase in Open Interest to $7.40 billion. Technical analysis shows a double-bottom pattern with a potential move toward $169 if the asset sustains a close above $145. Long positions totaling $210.97 million at key liquidation levels indicate bullish positioning among derivatives traders.

Ethereum activated its Fusaka upgrade on December 3 at slot 13,164,544, implementing execution-layer optimizations without disrupting network operations. The network maintained 995,908 active validators and 35.63M staked ETH immediately following activation. ETH traded above $3,150 after the upgrade deployment.

Revolut has integrated Solana for direct transfers, withdrawals, and staking, expanding SOL's presence in global fintech infrastructure. SOL traded near $141.22 with $5.8 billion in 24-hour volume. Short positions totaling $60 million were liquidated as the token tested key support levels.

Hyperliquid Strategies has completed its merger with Sonnet BioTherapeutics, forming the largest HYPE token treasury. The combined entity holds 16.89 million HYPE tokens valued at $583 million, offering U.S. public market investors direct exposure to the Hyperliquid ecosystem through a publicly traded vehicle.

Ethereum's Fusaka upgrade activates Wednesday, introducing fee structure changes analysts expect to drive supply contraction. The upgrade addresses a structural issue where Layer 2 solutions generated substantial user fees but contributed minimal revenue to the base layer, potentially shifting Ethereum toward deflationary supply dynamics. Analysts project the changes could burn an additional 200,000 to 400,000 ETH annually under conservative estimates.

Solana Mobile announced Wednesday that its native ecosystem token, SKR, will launch in January 2026. The token has a total supply of 10 billion units, with 30% allocated for airdrops and unlocked at launch. Distribution targets Seeker device owners and active decentralized application users within the ecosystem.

YZi Labs has issued formal demands to asset manager 10X Capital over alleged mismanagement at BNB Network Company (BNC), the largest publicly traded BNB treasury firm in the U.S. The family office of Binance founder Changpeng Zhao accuses 10X of planning to pivot away from BNB accumulation despite commitments made during a $500 million financing round. YZi Labs has initiated a proxy fight seeking board changes and set a December 5 deadline for written confirmation of compliance with the BNB treasury strategy.

Digital Asset Treasuries acquired 370,000 ETH in November 2025, an 81% decline from August's peak of 1.9 million ETH, according to Bitwise data. The contraction reflects weakening institutional demand driven by deteriorating market conditions and declining treasury company valuations. Certain firms continue expanding holdings despite the broader pullback.