Ethereum moves to a new level of scalability: the market assesses the effect of EIP-4844 and the upcoming Fusaka

The ETH correction coincided with profit taking in the Nasdaq tech sector and a stronger dollar ahead of the Fed meeting.

The full rollout of EIP-4844 has already lowered costs for rollup providers and freed up capacity on the main chain. The average block confirmation now takes less than 10 seconds, reducing the risk of front-running on decentralized exchanges.

According to YCharts data, the average fee on the network has dropped to $0.59, a year-on-year reduction of 37%. Gas fees rarely exceed 5 gwei even with the surge in demand for NFT.

Dune's report shows: Layer-2 accounts for 85% of transactions and the OP ecosystem generates over $5.8 million in monthly revenue.

The upcoming Fusaka update, known as Osaka, is scheduled for late Q4. It will introduce full danksharding and Verkle-trees, reducing node requirements and increasing data throughput.

The Ethereum Foundation is supporting the development with grants: $32.65 million was distributed in Q1 for Layer-2 and ZK protocol projects. Corporate customers are considering these solutions for asset tokenization.

Staking share grew to 29.7%, equivalent to 42.3 million ETH. The average age of coins on active wallets is 2.1 years, reflecting the prevalence of long-term capital.

Open interest in futures exceeds $12 billion, with a long-to-short ratio of 1.37 in favor of buyers. The spot premium to perpetual contracts remains positive.

Interest in exchange-traded funds increases the pressure on supply: issuers have purchased over 410,000 coins since the beginning of the year, withdrawal of assets to custodial wallets exceeds the inflow to exchanges.

Corporate developers are testing ether infrastructure for issuing tokenized receipts, which expands the network's integration with traditional payment services.

Estimated volatility of 43% p.a. is below the five-year average, making ETH an attractive component of Sharpe ratio-oriented portfolios.

The experience after last year's Dencun confirmed the effectiveness of the phased approach: the introduction of blob transactions then brought a 95% reduction in fees within a year and accelerated the growth of DeFi activity. The success became an argument in favor of further steps of the roadmap and gave confidence to validators, who supported Fusaka almost unanimously.

Strategists at research bureaus emphasize: Ethereum relies not on speed but on a high degree of decentralization to counter Solana. This balance becomes especially important for institutions planning to issue debt securities in the form of programmable tokens.

In the coming sessions, attention will focus on the $3,200 level: its breakdown is capable of activating a cascade of stop orders, while the transition of validators to new software may cause short-term price fluctuations.