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.

Strategy, the largest corporate Bitcoin holder, reduced its acquisition to 9.1K BTC in November 2025, down 93% from 134.5K BTC purchased in November 2024, according to CryptoQuant data. Through early December 2025, the company acquired just 135 BTC, marking one of its slowest buying periods in recent years. The decline follows a consistent downward trend throughout 2025, with monthly purchases falling from 59.7K BTC in December 2024 to current levels.

Bitcoin is testing the $93,000 level for the second time in under a week. Derivatives data show significant short-liquidation clusters forming between $92,500 and $94,000. The concentration of overleveraged short positions could trigger forced buying if upward momentum continues.

Major altcoins posted double-digit gains with Ethereum rising 10%, Solana up 12%, and Sui surging 21% following a sentiment reversal. The CMC Altcoin Season Index remains at 21/100, indicating Bitcoin continues to dominate market flows. Altcoin market capitalization has declined from $1.36 trillion to $1.29 trillion over seven consecutive days.

Aave V3 deployed on Mantle Network on December 2, bringing lending infrastructure to the Layer-2 platform. A governance proposal shows the DAO is considering shutting down deployments on zkSync, Metis, and Soneium, which generate between $3,000 and $50,000 in annual revenue. The proposal also sets a $2 million revenue threshold for future chain expansions.

XRP declined more than 6% to approximately $2.02 on December 1 amid heavy selling by large wallet holders. On-chain data show wallets controlling between 1 million and infinity tokens reduced holdings sharply, reversing months of accumulation. The distribution trend, visible since September, accelerated through the final week of November.

House Republicans released a 51-page report on December 1 detailing banking access challenges faced by at least 30 digital asset entities between 2022 and 2024. The documentation includes FDIC pause letters sent to approximately 24 banks and Federal Reserve guidance requiring pre-approval for crypto activities. The Trump Administration has since reversed these policies through multiple regulatory actions beginning January 2025.

Decentralized exchange SushiSwap announced a leadership transition on December 1, with Synthesis founder Alex McCurry purchasing over 10 million SUSHI tokens worth approximately $3.34 million and assuming operational control. Outgoing CEO Jared Grey, who led the protocol for three years through regulatory scrutiny and governance disputes, will transition to an advisory role. The platform described the change as part of positioning for expansion, citing profitability goals and product development plans.

The Coinbase Premium Index has turned positive for the first time in several weeks, coinciding with Bitcoin's recovery above $90,000. Data from CoinGlass show the shift marks a reversal from persistent negative values observed throughout late October and much of November. The change suggests renewed buying activity from U.S. market participants after an extended period of net selling pressure.