Ethereum News Today: Ethereum's Fusaka or Solana's Rapid Rise: Which Will Shape the Future of DeFi?

Entering the third quarter of 2025, the cryptocurrency sector saw renewed energy, fueled by

protocol enhancements, the growing use of tokenized real-world assets (RWA), and the expansion of stablecoins designed for institutional use. Leading companies such as and Exchange are actively transforming the industry, while Solana's momentum is starting to rival Ethereum in certain areas.

According to

, Ethereum (ETH) developers have scheduled the Fusaka upgrade for mainnet launch on December 3, marking a significant move to boost scalability and security. The update introduces 12 Ethereum Improvement Proposals (EIPs), including EIP-7594 (PeerDAS), which streamlines Layer 2 transaction validation. After Fusaka, blob capacity will be increased in December and January to help ease network congestion. Despite these improvements, ETH is experiencing short-term price swings, hovering around $3,820 with support at $3,600.

During Q3 2025, Coinbase, a major holder of ETH, increased its reserves by 11,933 Ethereum, reflecting strong long-term conviction, as reported by

. CEO Brian Armstrong emphasized the platform’s push into prediction markets and tokenized stocks, aiming to bridge the gap between traditional finance and blockchain. However, following its earnings report, Coinbase shares fell 5.77%, highlighting investor worries about reliance on trading volumes.

BTCC Exchange disclosed that its tokenized RWA futures trading volume surpassed $29 billion between Q2 and Q3 2025, solidifying its position as a connector between conventional and digital assets, according to

. The exchange provides leveraged trading for assets such as gold, the S&P 500, and Tesla shares, accessible globally through . This approach supports the over $30 billion on-chain RWA market, benefiting from instant settlements and fewer intermediaries.

Circle’s

and EURC stablecoins reached 35 million users and a $75 billion supply by mid-2025, while Ethereum processed $184 billion in stablecoin transactions, according to . This surge demonstrates institutional confidence in regulated stablecoins, as seen with Ripple’s RLUSD, which achieved a $1 billion market cap on both Ethereum and the Ledger, per . Ethereum’s Layer 2 solutions, such as and Base, have further increased stablecoin transaction speed, supporting DeFi and international payments, according to .

Solana (SOL) has surpassed Ethereum in terms of transaction throughput and developer interest, with its single-chain design praised by analysts, as reported by

. While Ethereum maintains a larger ecosystem, Solana’s price at $175.46 (at the time of writing) is approaching a key resistance at $200, according to . Institutional investments, including $200 million into ETFs, highlight its growing popularity, though Ethereum’s ongoing upgrades and Layer 2 adoption keep it ahead in stablecoin transaction volume.

The third quarter of 2025 showcased Ethereum’s pivotal upgrades, the rise of tokenized RWAs, and the expansion of stablecoins. Although Solana’s advancements are gaining attention, Ethereum’s robust infrastructure and Layer 2 scaling solutions continue to anchor its leadership in decentralized finance. Investors should weigh short-term market fluctuations against the backdrop of ongoing technological progress to make informed decisions.