Efirium The price increased slightly following the release of the Fusaka update, which took place on November 3 at 18:49 Moscow time.
The key element of the update is the PeerDAS selective data availability solution, which reduces the amount of data blockchain nodes have to download and upload, allowing them to process information faster, and allows second-layer networks to interact more efficiently with the mainnet. This should lead to faster transaction confirmations.
ETH creator Vitalik Buterin He announced that over the next two years, developers will optimize the PeerDAS mechanism and scale it to improve the performance of Layer 2 and mainnet networks. If successful, transfers will be completed almost instantly—in just a few milliseconds—and transaction processing fees will be even lower than the current average of just $0,23.
This week, the Ethereum price recovered from its initial price drop and, following the release of Fusaka, confidently held above the $3,200 resistance barrier. Two more ETH blockchain upgrades are scheduled for December 9 and January 7. If they are successful, the upward trend in the cryptocurrency market could continue. However, it’s important to remember that the market has entered a protracted bearish phase, so the digital asset’s price increase should be viewed as a correction rather than a reversal.
Ethereum price change over the past week