Ethereum

Ethereum maintains $174.95 billion in stablecoin supply, representing 63% year-over-year growth, data show. Layer 2 solutions Arbitrum One and Base Chain hold $7.84 billion and $4.53 billion respectively. Competition intensifies across secondary networks as total stablecoin supply reaches an all-time high of $283.2 billion.

Digital asset treasury firms acquired 370,000 ETH in November 2025, down 81% from August's 1.97 million tokens, data show. BitMine Immersion leads public holders with 3.73 million ETH valued above $10 billion. Analysts suggest sustained declines in corporate buying could reduce structural market support, though staking yields may help maintain treasury sustainability.

Bitcoin rose above $94,000 on December 3, marking a two-week high as the cryptocurrency sought to recover from losses exceeding $1 trillion since early October. Ether climbed nearly 10% to $3,092, while XRP and SOL posted gains of 8% and 11.7% respectively, according to CoinGecko.

Ethereum rose above $3,000 on December 3 following the activation of its Fusaka mainnet upgrade. The fork introduces PeerDAS technology and doubles block gas capacity, laying groundwork for expanded blob throughput. ETH trades near $3,070 after breaking through a descending trendline that had limited gains since late October.

The United Kingdom enacted the Property (Digital Assets etc.) Act 2025 on Tuesday, creating a third category of property under UK law for digital assets including bitcoin and stablecoins. The legislation, which passed both parliamentary chambers without amendments, provides legal clarity for ownership disputes, asset recovery, and insolvency proceedings involving digital holdings.

Ethereum's Fusaka upgrade activates on December 3, introducing EIP-7594 (PeerDAS) to enhance rollup data verification and reduce bandwidth requirements. Open Interest stands above $17 billion with slightly positive Funding Rates, though ETH trades near $3,000 following a 43% decline. Network throughput recently hit an all-time high of nearly 33,000 TPS.

Bitcoin climbed 6.98% to $93,099 from $87,019 over 24 hours after Vanguard reversed its policy on cryptocurrency ETFs. The asset manager enabled clients to purchase funds holding Bitcoin, Ethereum, XRP, and Solana on Tuesday. Bloomberg ETF analyst Eric Balchunas linked the rally to what he called the "Vanguard Effect," noting $1 billion in IBIT volume within the first 30 minutes of trading.

XRP drew $289 million in weekly inflows, one of its strongest performances on record, according to CoinShares data. Digital asset exchange-traded products collectively recorded $1.07 billion in net inflows, reversing four consecutive weeks of outflows. The influx signals renewed institutional engagement across major crypto assets.

Bitcoin's current market cycle demonstrates increased maturity through rising institutional participation and declining volatility, data show. Tokenized real-world assets have surged 243% year-over-year to $24B, according to Glassnode, while Bitcoin has absorbed approximately $732B in new capital with one-year realized volatility nearly halving.

Bitcoin traded near $92,000 during Asian hours Wednesday as regional equities steadied and futures pointed to reduced volatility. The cryptocurrency recovered alongside broader risk assets after earlier bond market turbulence and selling pressure eased across global markets.