Ethereum edges higher as Wall Street returns on fresh inflows and corporate buying

Core Insights - Ethereum (ETH) is experiencing a rally, with prices increasing approximately 6.2% over the past week to around $3,176, which is about 35% below its all-time high of approximately $4,946 reached in August [1] Group 1: Market Activity - Ethereum exchange-traded funds (ETFs) saw inflows of about $140.2 million on December 3, with BlackRock's ETHA product attracting roughly $53 million [2] - The ETH/BTC trading pair has broken a three-month downtrend, indicating a potential capital rotation back from Bitcoin into Ethereum [3] Group 2: Corporate Developments - BitMine, an Ethereum treasury firm, purchased an additional $150 million in ETH, increasing its stock by about 15% in December and targeting a total of 5% of the ETH supply [4] - Tom Lee, co-founder of Fundstrat, believes the crypto market is stabilizing and anticipates a Federal Reserve rate cut on December 10, which could favor risk assets like ETH [5] Group 3: Technological Upgrades - The Fusaka hard fork is set to go live, aiming to reduce transaction costs on layer-2 chains and enhance user experience, with a potential increase in Ethereum's blob capacity by up to eightfold [6] - Ethereum Foundation researcher Alex Stokes highlighted that the new technique allows for scaling without compromising core values [7]