Ethereum Soars Past $3,200 Amidst ‘Shark’ Wallet Accumulation and Fusaka Network Growth

Ethereum has surged past the $3,200 mark to reach a three-week high, driven by substantial accumulation from “shark wallets” holding between 1,000 and 10,000 ETH. These wallets have been instrumental in driving price movement throughout 2025, according to Santiment. Furthermore, network activity is surging as new wallets joined the ecosystem at an astonishing rate of 190,000 in a single day. This surge coincides with the successful deployment of the Fusaka upgrade on Wednesday, marking a key step forward for Ethereum’s layer-1+rollup roadmap.