Ethereum News Today: Ethereum's Fusaka vs. Solana's Surge: Who Will Lead DeFi's Future?

The cryptocurrency market entered Q3 2025 with renewed momentum, driven by Ethereum upgrades, tokenized real-world asset (RWA) adoption, and institutional-grade stablecoin growth. Key players like Coinbase and BTCC Exchange are reshaping the landscape, while Solana's rise challenges Ethereum's dominance in certain metrics.

Ethereum (ETH) developers finalized December 3 as the mainnet launch date for the Fusaka upgrade, a critical step in enhancing scalability and security, according to FXStreet. The upgrade includes 12 Ethereum Improvement Proposals (EIPs), notably EIP-7594 (PeerDAS), which allows for more efficient validation of Layer 2 transactions. Post-Fusaka, blob capacity limits will expand in December and January, aiming to reduce congestion. Despite these advancements, ETH faces short-term volatility, trading near $3,820 with support levels at $3,600.

Coinbase, a major ETH holder, added 11,933 Ethereum to its reserves during Q3 2025, signaling long-term confidence, according to TradingView. CEO Brian Armstrong highlighted the exchange's expansion into prediction markets and tokenized equities, aiming to unify traditional and blockchain finance. However, Coinbase's stock dipped 5.77% post-earnings, reflecting investor concerns over trading volume dependency.

BTCC Exchange reported over $29 billion in tokenized RWA futures trading volume across Q2-Q3 2025, cementing its role as a bridge between traditional and crypto markets, according to Reuters. The platform offers leveraged exposure to assets like gold, S&P 500, and Tesla stock, enabling global access via USDT. This innovation aligns with the $30 billion+ on-chain RWA market, driven by instant settlement and reduced intermediaries.

Circle's USDC and EURC stablecoins surged to 35 million users and $75 billion in supply by mid-2025, with Ethereum hosting $184 billion in stablecoin activity, according to Coinotag. The growth reflects institutional trust in regulated stablecoins, exemplified by Ripple's RLUSD, which hit $1 billion in market cap on Ethereum and XRP Ledger, per U.Today. Ethereum's Layer 2 networks, including Arbitrum and Base, further accelerated stablecoin velocity, supporting DeFi and cross-border payments, according to FinanceFeeds.

Solana (SOL) outpaced Ethereum in transaction speed and developer adoption, with analysts noting its single-chain efficiency, according to Coinpaper. Despite Ethereum's broader ecosystem, Solana's $175.46 price (as of press time) faces a critical $200 resistance level, per CoinEdition. Institutional inflows, including $200 million into Solana ETFs, underscore its appeal, though Ethereum's upgrades and Layer 2 integration maintain its dominance in stablecoin volume.

The Q3 2025 crypto market highlights Ethereum's strategic upgrades, tokenized RWA innovation, and stablecoin expansion. While Solana's performance gains traction, Ethereum's entrenched infrastructure and Layer 2 scalability ensure its central role in decentralized finance. Investors must balance short-term volatility with long-term technological advancements to capitalize on these trends.