ETH (Ethereum) rose 3.58% in the last 24 hours.

Gate News Bot news, on October 24, according to CoinMarketCap data, as of the time of writing, ETH (Ethereum) is currently reported at $3977.67, with a rise of 3.58% in the past 24 hours, reaching a maximum of $4109.53 and a minimum drop to $3678.62, with a 24-hour volume of $36.37 billion. The current market capitalization is approximately $480.098 billion, an increase of $16.6 billion compared to yesterday.

Ethereum is a leading innovative application and blockchain network platform. It provides infrastructure for cryptocurrencies, decentralized finance, NFTs, and more, boasting the largest blockchain developer ecosystem. Ethereum is undergoing significant upgrades to enhance scalability, security, and sustainability.

Important news about ETH recently:

1️⃣ Institutional investors continue to increase their holdings of ETH Multiple institutional investors have recently increased their holdings of ETH on a large scale. Tokyo-listed company Quantum Solutions purchased 2,365 ETH within 7 days, becoming the largest Ethereum holding company in Japan. At the same time, several Ethereum ETFs have also seen significant capital inflows, with BlackRock's ETF attracting over $40 million in a single day, reflecting institutions' long-term optimism towards ETH.

2️⃣ Ethereum Fusaka upgrade enters final testing phase Ethereum is about to undergo the Fusaka upgrade, introducing a single transaction gas limit of approximately 16.78 million units, aiming to improve block efficiency and prepare the network for parallel execution. This upgrade has been activated on the testnet and is expected to go live on the mainnet in December 2025. The development team has moved the Fusaka BPO1 date from the originally scheduled December 17 to December 9. This upgrade is expected to further optimize Ethereum's performance and scalability.

3️⃣ Ethereum infrastructure upgrades accelerate transaction speed The Ethereum infrastructure platform Primev has introduced FAST RPC technology, enabling Ethereum transactions to complete pre-confirmation and lock into blocks within 200 milliseconds. This technology significantly enhances the processing speed of ETH transfers, smart contract interactions, and NFT minting operations, bringing substantial improvements to user experience.

From a technical perspective, the ETH price has recently shown a volatile trend, with multiple contests occurring near $3800. In the short term, ETH may continue to fluctuate within the $3750-$3900 range, and investors need to closely monitor the performance of key support and resistance levels.

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