Ethereum Price Today, December 7, 2025: Fusaka Upgrade, Record-Low Exchange Supply and $62K Long-Term Predictions

Key points

ETH is trading just above $3,000 after a sharp early-December correction, with most major data providers showing prices around $3,030–$3,050 and a market cap near $360–370 billion. ^[1]
Ethereum’s Fusaka upgrade went live on December 3, delivering up to an 8x data-capacity boost for rollups and cheaper Layer‑2 transactions – a structural catalyst many analysts link to future ETH demand and burn. ^[2]
On-chain data shows ETH on exchanges at a record low ~8.7% of supply, while more than 40% of ETH is effectively “locked” in staking, institutional wrappers and ETFs/DATs – fueling a growing “supply squeeze” narrative even as short-term technicals remain mixed. ^[3]

1. Ethereum price today: holding the $3,000 line

As of December 7, 2025, Ethereum (ETH) is trading just above a psychologically important level:

Coindesk’s live index shows ETH around $3,037 as of early U.S. morning hours. ^[4]
Daily closing data from YCharts and other aggregators puts December 7’s spot value near $3,039–$3,040. ^[5]
Analytics platform Hexn lists ETH at $3,036 with a market cap of roughly $366.4 billion and circulating supply of about 120.7 million ETH. ^[6]

Price action over the last week has been relatively calm in dollar terms: ETH has oscillated in a tight band around $3,000 with low single‑digit percentage moves day to day. Short-term volatility over the past seven days is under 1% according to Hexn’s models – unusually low for a major crypto asset. ^[7]

2. From violent sell-off to sideways consolidation

Today’s calm comes after a bruising start to December.

On December 1, a broad crypto sell-off sent Bitcoin below $86,000 and Ethereum down more than 7% to around $2,800, erasing a chunk of Q4 gains in a single trading session. ^[8]

Historical price data from Investing.com and TwelveData shows what happened next: ^[9]

Dec 1: ETH closed near $2,800, down sharply on the day.
Dec 2–3: Price rebounded back above $3,000, with Dec 3 closing around $3,188.
Dec 4–5: Another pullback dragged ETH back toward $3,020–$3,130.
Dec 6–7: The market settled into a narrow range around $3,020–$3,050, with intraday highs just above $3,050 and lows just above $3,000.

Zooming out, ETH still trades well below its August 2025 spike near $4,200, when short liquidations and ETF optimism temporarily pushed the market to its highest levels since late 2021. ^[10]

In other words: after a mini‑crash at the start of the month, Ethereum has shifted into indecision mode – sideways around $3,000 while traders digest macro risks and the network’s latest upgrade.

3. Fusaka upgrade: why Ethereum’s new hard fork matters for price

On December 3, Ethereum activated its Fusaka upgrade on mainnet – the second major code change of 2025 after the Pectra hard fork in May. ^[11]

Multiple technical write‑ups from Consensys, CoinGecko, CoinMarketCap Academy and specialized research outlets highlight several price‑relevant features: ^[12]

Up to 8x more “blob” capacity for Layer‑2 rollups
- Fusaka dramatically expands the space available for rollups to publish compressed transaction data (“blobs”) to Ethereum, enabling up to an eightfold increase in data throughput.
- More blob capacity = cheaper posting costs for rollups like Arbitrum, Base and Optimism, and ultimately lower user fees on L2.
PeerDAS: lighter nodes, higher throughput
- A new Peer Data Availability Sampling (PeerDAS) scheme lets nodes verify data by sampling small chunks instead of downloading everything, making full participation less hardware‑intensive.
- This improves decentralization and makes it easier for the network to scale without sacrificing security.
Higher gas limits and UX‑oriented cryptography
- SwissBorg and other infrastructure providers note that Fusaka raises the block gas limit from 45 million to 150 million, allowing many more transactions and L2 submissions per block. ^[13]
- Support for P‑256 signatures – the same scheme used in smartphone passkeys and Face ID‑style authentication – paves the way for seedless, biometric wallets. ^[14]

For ETH holders, the upgrade’s price impact is indirect but important:

More throughput and cheaper L2 fees should drive higher transaction volume, which can increase ETH burn under EIP‑1559 if demand picks up. ^[15]
Lower node requirements and better UX may expand the network’s user base over time, reinforcing ETH’s role as the settlement and gas asset for a growing ecosystem. ^[16]

Market reaction so far

Near-term price reaction to Fusaka has been muted but broadly positive:

A 99Bitcoins analysis published December 6 notes that ETH has been trying to stabilize around $3,000–$3,100 since the upgrade, with technical support forming just above $3,000. If that zone holds, analysts there see room for a move toward $3,650–$3,700, but warn of downside risk toward $2,630–$2,400 if support breaks. ^[17]
CryptoPotato reports that buyer aggression in ETH futures has jumped to its highest level since early August on Binance, with the taker buy/sell ratio near 1.0. A sustained move above 1.0 could, according to on‑chain analysts cited in the piece, open a path toward the $3,500–$4,000 zone. ^[18]

So far, Fusaka looks more like a foundation for future performance than an immediate rocket booster – but it is a central pillar in most bullish ETH theses for 2026 and beyond.

4. On-chain data: record-low exchange balances and a 40% “supply lock”

While price chops around $3,000, Ethereum’s on‑chain structure is quietly undergoing one of its most supply‑constraining shifts ever.

Exchange balances at all‑time lows

A fresh analysis from Cryptonews on December 7, citing Glassnode data, highlights that: ^[19]

Only about 8.7% of total ETH supply now sits on centralized exchanges –
That’s a 43% drop in exchange balances since early July 2025, and the lowest share since Ethereum’s launch in 2015.

Analysts quoted in the piece describe this as Ethereum’s “tightest supply environment ever.” Increased staking, migration to Layer‑2 networks, use as DeFi collateral, and long‑term self‑custody are all pulling ETH off exchanges – and assets that are not on exchanges are, by definition, harder to sell quickly.

40% of ETH effectively locked

A separate structural analysis from AInvest goes further, arguing that Ethereum’s valuation is increasingly driven by a “supply lock” dynamic rather than pure speculation: ^[20]

Over 40% of ETH supply is now locked in a combination of:
- Beacon-chain staking and re‑staking protocols
- Institutional wrappers and regulated funds
- Spot ETH ETFs and Digital Asset Treasuries (DATs)
Exchange reserves are at their lowest level in five years, according to that report.

The article frames this as a structural bull case: with so much ETH locked in long‑term, yield‑generating or regulatory‑constrained vehicles, the tradable float becomes increasingly thin. In such an environment, even modest increases in demand can put outsized upward pressure on price.

Combine Fusaka’s potential to boost on‑chain activity with this supply squeeze, and you get the core of today’s medium‑ to long‑term bull narrative for ETH.

5. Technical picture: $3,000 support vs. $3,200 resistance

Short‑term charts paint a more conflicted story.

Daily and 4‑hour charts: stalled at $3,200

CryptoPotato’s latest ETH price analysis, published this week, notes that Ethereum’s rebound from the $2,600 support zone ran into a wall near $3,200, where a long‑standing downward trendline overlaps with a daily fair value gap. ^[21]

Key takeaways from that analysis:

$3,200 is acting as a firm resistance, with heavy selling triggering a sharp rejection there.
The pullback carved out a lower low on the daily chart, keeping the broader structure tilted bearish.
The market is currently range‑bound between roughly $3,000 and $3,600, and a breakout from this tight structure is likely to set the next major trend. ^[22]

Mixed signals from other technical analysts

Other major outlets echo the “key inflection zone” narrative around $3,000–$3,200:

Brave New Coin highlights $3,000–$3,050 as a central support level, underpinned by apparent institutional buying. Their most recent report argues that as long as ETH holds above $3,050, momentum could build toward the $3,400–$3,500 range – though they stress that long‑term 2025 outcomes remain highly sensitive to macro conditions and regulatory developments. ^[23]
BeInCrypto describes “mixed signals,” noting that a decisive break above $3,131 and then $3,287 would strengthen the bullish case, while rejection at those levels could drag ETH back below $3,000. ^[24]
CoinCodex’s automated technical model (updated December 7) classifies sentiment as bearish (90% of indicators), but with a neutral RSI around 47, suggesting that neither bulls nor bears have a clear upper hand. They place pivot support at $3,015, $2,990 and $2,966, with resistance at $3,065, $3,089 and $3,114. ^[25]

Overall, the chart consensus right now:

Critical support: $3,000 (psychological + technical), then $2,800 and $2,600 further down. ^[26]
Near-term resistance: $3,131–$3,200; breaking and holding above this zone would be the first real sign that a new uptrend is underway. ^[27]

6. Short-term Ethereum price forecasts (next days and weeks)

Quant models and prediction tables published today paint a cautiously optimistic – but far from explosive – short‑term outlook.

Algorithmic forecasts for the coming days

Binance price‑prediction dashboard expects ETH to remain tightly range‑bound, with daily forecasts like $3,033.79 for Dec 7 and $3,034.19 for Dec 8, nudging slightly upward toward $3,046–3,048 over the next few weeks. ^[28]
Changelly’s model, updated December 7, projects an increase of about 2.9%, from roughly $3,020 to $3,120 by December 9, classifying broader market sentiment as bearish but highlighting modest upside. ^[29]
CoinCodex forecasts ETH at $3,055 on Dec 8 and $3,367 by Dec 12, implying potential short‑term gains of just over 10% if the upper target is reached. ^[30]
Hexn offers a more conservative path: from $3,036 today to around $3,175 by January 6, 2026, a roughly 4.6% gain over 30 days. ^[31]

Derivatives & prediction markets

On Polymarket, the now‑resolved market “Ethereum price on December 7?” saw traders assigning around 79% probability to ETH ending the day in the $3,000–$3,100 bracket, with only low single‑digit odds on either a sub‑$2,900 or above‑$3,200 close. ^[32]

The big picture across these short‑term models is consistent: moderate upside bias, but no consensus on an imminent breakout, and considerable sensitivity to macro headlines.

7. Medium-term outlook: 2025–2026 projections

Forecasts for the next one to two years vary widely depending on methodology and risk appetite.

2025 targets

CoinCodex
- Sees ETH trading in a $3,055–$3,672 channel for 2025, with an average price around $3,375 – roughly 20–21% upside from current levels. ^[33]
CoinDCX (weekly Ethereum outlook)
- Puts its 2025 range at $2,824 (min) to $3,500 (max), with an average of about $3,350, and suggests that if conditions remain supportive, ETH could still climb 8–10% toward the $3,850–$3,900 area by late 2025. ^[34]
CryptoDnes
- Is more aggressive, projecting a 2025 range of $3,843–$5,956, with an average price around $4,899 – implying upside of 60%+ versus today if their base case plays out. ^[35]
Changelly
- In its December 7 long‑term forecast, Changelly actually assumes a much higher baseline, with 2025 averages above $6,100 and a maximum around $7,194 – essentially modeling a strong continuation of the prior bull cycle once macro headwinds fade. ^[36]

2026 outlook

CoinDCX expects 2026 to push ETH into a $3,350–$4,200 band, with an average near $3,950, representing ~18% upside over its own 2025 average. ^[37]
Hexn projects a 2026 range of about $3,249–$5,375, with an average near $4,224 across the year. ^[38]

Across these forecasts, one theme stands out: most mainstream models see ETH grinding higher in 2025–2026, but not exploding, unless macro conditions or adoption metrics significantly outperform expectations.

8. Long-term Ethereum price predictions: 2030 and beyond

Once you look out to 2030 and later, the numbers get big – and the uncertainty even bigger.

Model-based projections

CoinCodex anticipates a 2030 range of roughly $4,445–$8,417, with an average around double to triple today’s price, depending on how the next cycle unfolds. ^[39]
CoinDCX sees ETH in five figures by 2030, with a base case near $10,000 and upside scenarios around $11,000, mapping to a ~150% gain versus current levels. ^[40]
Changelly is dramatically more bullish, projecting:
- 2030 average price around $40,000 with a top scenario above $47,000. ^[41]
CryptoDnes’ long‑term scenario is even more extreme, forecasting an average Ethereum price near $29,000 in 2030, with a potential high above $50,000 if adoption accelerates and ETH cements itself as core infrastructure for tokenized assets. ^[42]

Tom Lee’s ultra‑bull scenarios – and the pushback

Wall Street strategist Tom Lee has become the face of the ultra‑bull case:

He argues that if the ETH/BTC ratio simply returns to its eight‑year average (~0.048), ETH could reach around $12,000 at current or moderately higher BTC prices. ^[43]
If the ratio revisits its 2021 blow‑off top (~0.087), he sees scope for $22,000 ETH. ^[44]
In a much more aggressive scenario where ETH reaches 0.25 BTC and Bitcoin climbs toward $250,000, Lee has floated a long‑term theoretical target of $62,000 per ETH, calling today’s ~$3,000 level “grossly undervalued.” ^[45]

Not everyone buys it:

A detailed critique on CCN points out that the ETH/BTC chart has only just broken out of a long‑term downtrend, and that key Fibonacci resistance around 0.037–0.038 BTC may cap the pair for now. ^[46]
That same analysis stresses that Lee’s 0.25 BTC target would require both a huge Ethereum outperformance and a renewed Bitcoin melt‑up – a combination current technicals do not support. ^[47]

Bottom line: long-term forecasts beyond 2030 are more narrative than science. They’re useful to understand the range of expectations, but they should not be treated as probabilities.

9. Macro backdrop: December 2025 as a potential turning point

Macro conditions are likely to matter as much as crypto‑native factors over the next few months.

A new AInvest macro report published today frames December 2025 as a possible inflection point for a broader crypto recovery, citing several factors: ^[48]

Futures markets assign about a 92% probability to a Federal Reserve rate cut this month, alongside a potential end of quantitative tightening (QT).
Global M2 money supply has hit a record $96 trillion, and historically, Bitcoin (and by extension other large‑cap cryptos) has shown a positive correlation with expanding liquidity, albeit with lags.
Institutional participation has continued to grow, especially through spot ETFs and corporate treasuries, even as retail sentiment remains shaky after the recent drawdown.

At the same time, that report and others warn about:

Geopolitical risk
The chance of a Fed policy misstep
The still‑fragile mood across retail and high‑leverage traders

For Ethereum specifically, a macro‑tailwind scenario – falling rates, easier liquidity and higher risk appetite – would amplify the structural drivers outlined above (Fusaka, supply lock, L2 growth). A macro‑shock, on the other hand, could easily yank ETH back below $3,000 regardless of fundamentals.

10. What to watch next for Ethereum’s price

For traders, investors and observers trying to make sense of Ethereum’s next move, a few levels and narratives will likely define the coming weeks:

Does $3,000 continue to hold?
- If ETH sustains this level as support, technical models targeting $3,300–$3,700 in the short term look more credible. ^[49]
- A decisive break below could re‑open the path to $2,800 and $2,600. ^[50]
Can bulls clear the $3,200–$3,300 resistance cluster?
- That zone has already rejected one rally, and several analyses treat it as the key gate to a more robust uptrend. ^[51]
Fusaka adoption metrics
- Watch rollup fees, on‑chain activity and gas used now that Fusaka is live. If L2 usage surges and fees fall as expected, it strengthens the case for higher ETH burn and greater network stickiness. ^[52]
Exchange balances and institutional flows
- Continued decline in exchange balances from the current 8.7% of supply would deepen the supply‑squeeze narrative, especially if ETFs/DATs and staking pools keep absorbing coins. ^[53]
The Fed decision and macro data into early 2026
- A dovish pivot could unlock fresh risk‑on flows into crypto, while a hawkish surprise or renewed inflation shock could pressure all high‑beta assets, including ETH. ^[54]

11. Final thoughts (and a quick disclaimer)

As of December 7, 2025, Ethereum sits at a crossroads:

Short‑term charts show a market stuck between support near $3,000 and resistance near $3,200–$3,300. ^[55]
Structural data – Fusaka’s scaling improvements, record‑low exchange balances, and a 40%+ supply lock – underpin a growing long‑term bull case. ^[56]
Forecasts for 2025–2030 range from “slow grind higher” to “multi‑tens‑of‑thousands per coin,” reflecting just how uncertain crypto’s next decade really is. ^[57]

Nothing in this article is financial advice. Crypto assets – including ETH – are highly volatile and can move sharply in response to news, macro conditions and market sentiment. Always do your own research and consider speaking with a qualified financial professional before making investment decisions.