ETH (Ethereum) rose 7.38% in 24 hours

Gate News Bot news, on December 3rd, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently priced at $3011.08, with a rise of 7.38% in the last 24 hours, reaching a high of $3095.03 and a low of $2720.44. The 24-hour volume has reached $26.205 billion. The current market capitalization is approximately $363.423 billion, an increase of $24.974 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It offers a new way to use the internet, including stablecoins, a fairer financial system, innovative applications, and more. Ethereum is the center of blockchain innovation, with the best projects built on Ethereum. It also supports the tokenization of assets such as artwork, certificates, and even real estate, making anything tradable as a token. Ethereum has the largest and most active developer ecosystem in Web3.

Important news about ETH recently:

1️⃣ Ethereum completes significant network upgrade Ethereum has raised the block Gas Limit to 60 million in preparation for the Fusaka upgrade. This is the largest execution layer expansion for Ethereum in nearly four years, expected to significantly improve network performance and transaction processing capabilities.

2️⃣ Institutional investors continue to increase their holdings of ETH BitMine has accumulated a total of 23,773 ETH in the past three days, worth approximately 70 million USD. The company's goal is to hold 5% of the total supply of ETH, and it has currently completed about 63%. The continuous increase in institutional holdings demonstrates confidence in the long-term value of ETH.

3️⃣ Ethereum ecosystem network hits an all-time high The peak TPS (transactions per second) of the Ethereum ecosystem network has recently set a historical high, reaching 32,950. Among them, Lighter accounts for about 90% of the average daily TPS on Ethereum L2, indicating that Ethereum's scaling solutions are taking effect, and network activity continues to rise.

From a technical perspective, ETH continues to maintain its strength after breaking the $3000 mark. In the short term, it may oscillate and consolidate in the $3000-3100 range. If it can firmly stay above $3100, it is expected to further break upwards.

This message is not intended as investment advice; investors should be aware of market volatility risks.