The Fusaka upgrade is scheduled to activate on the Ethereum mainnet on December 3, 2025, and is the next major hard fork following Pectra. This upgrade includes a total of 13 EIPs (Ethereum Improvement Proposals), with core components covering PeerDAS (EIP-7594), Parameter Fork (EIP-7892), Gas Limit Increase (EIP-7935), and Blob Base Fee Minimum (EIP-7918). The upgrade focuses on backend infrastructure optimization. Through PeerDAS (EIP-7594) for data availability sampling, increasing the block Gas limit to 60 million, and blob capacity expansion, it is expected to reduce Layer 2 transaction costs by 70-90% while increasing network throughput to 100,000+ TPS. Initially post-upgrade, blob capacity will remain at a target of 6 / max 9. It is planned to be expanded in phases up to a maximum of 48 blobs via the subsequent BPO fork, providing space for large-scale L2 expansion. The introduction of PeerDAS technology reduces the data download and validation bandwidth requirements for validator nodes by approximately 87.5%, significantly easing the burden on computational and storage resources. Through a data history expiration mechanism, network layer optimization will help nodes free up to 530GB of storage space, accelerating the speed of new node setup and synchronization.

Current Ethereum Data Analysis As of October 2025, the Ethereum L2 Total Value Locked (TVL) is approximately $4.373 billion (43.73 亿), with a week-over-week growth of 5.4%. Current L2 daily transaction volume is between 2 million and 3 million, accounting for over 60% of all on-chain activity on the Ethereum network. The average L2 on-chain transaction fee ranges from $0.000178 to $0.0086, a significant decrease compared to the main chain. Major L2 projects include Base (TVL $5.26 billion), Arbitrum ($3.56 billion), and (Linea $1.01 billion). The number of active network validators has reached 1.005 million, with a total of approximately 35.7 million ETH staked, accounting for 28%~30% of the circulating supply. The Ethereum mainnet's current synchronization rate remains high at 95.9%~97.4%, indicating the mainnet is well-prepared for the upgrade. Average daily Gas usage is 20 million to 25 million, accounting for 44%~55% of the total network, indicating that network velocity and load distribution are relatively stable.

Future Outlook Short-term (End of 2025 ~ Q1 2026): Mainnet testing performance is excellent, activation risk is low. L2 transaction fees are expected to drop 70-90%. The L2 ecosystem is poised for further expansion, with TVL potentially reaching $60+ billion (600 亿+), and protocol revenue increasing simultaneously. The Fusaka upgrade represents a significant milestone in Ethereum's technological maturity, laying a solid foundation for the large-scale Layer 2 ecosystem through backend infrastructure optimization. Combined with current network metrics, community support, and testnet performance, the probability of a successful upgrade is extremely high. It will significantly enhance Ethereum's value proposition as a settlement layer.

Current Ethereum Data Analysis