Ethereum begins final testnet stage for Fusaka upgrade, introducing gas limits and PeerDAS enhancements
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Daily top performer — Merlin Chain (MERL)
The S&P 500 closed flat on Tuesday as tech momentum faded, while traders now await Tesla’s earnings and Friday’s CPI report for direction amid the ongoing US government shutdown. Gold fell over 5% to $4,114, its biggest drop since 2020, as traders took profits before US CPI data and a stronger dollar reduced safe-haven demand. The Coindesk Indices, which tracks the broader crypto market, fell 2.11% with Bitcoin up 0.89% and Ether down 0.94%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this link.
Today’s top performer is MERL, up 5.5%, after Merlin Chain partnered with Cicada to boost institutional liquidity and expand the BTCfi ecosystem.
Merlin Chain (MERL), launched in January 2024, is a Bitcoin Layer 2 network using zero-knowledge proofs to enhance Bitcoin scalability and support features like oracles and NFTs. Merlin Chain partnered with Cicada, a leading quantitative trading firm, under its BTCfi Investment Program to expand institutional Bitcoin yield opportunities. The collaboration aims to drive institutional liquidity and advance BTC staking, cross-chain liquidity, and custody solutions for a more programmable Bitcoin economy.
Check out the latest prices, charts, and data of MERLUSDT perp and MERL/USDT spot contracts!
Talk of the town
Ethereum is entering the final testnet phase of its Fusaka upgrade ahead of a Dec. 3 mainnet rollout. The update introduces a per-transaction gas cap of 16.78 million to improve block efficiency, prevent single transactions from consuming entire blocks, and prepare for future parallel execution. Fusaka also raises the block gas limit to 60 million and debuts PeerDAS, which reduces layer-2 data storage requirements. The next upgrade, Glamsterdam, will focus on parallel transaction processing.
Check out the latest prices, charts, and data of ETHUSDT perp and ETH/USDT spot contracts!
BTC spot ETF flows
Category | Flow (millions) |
GBTC | 0.0 |
Non-GBTC | 266.3 |
Total | 266.3 |
US Bitcoin spot ETFs saw $266.3 million in total inflows on Monday, all from non-GBTC funds.
Check out the latest prices, charts, and data of BTCUSDT perp and BTC/USDT spot contracts!
Airdrop to watch
Ethereal has launched its Mainnet Alpha, granting early access to the top 100 waitlisted users to deposit USDe and start trading. Season One: Epoch 1 has ended, with Epoch 2 marking the alpha phase. Users can earn points through trading, holding USDe, and referrals, with Season Zero participants receiving a 100% points boost.