The last time the F&G index hit this low, cryptos started to recover, and Bitcoin (BTC) made a new all-time high a few weeks after.

Meanwhile, the Fusaka upgrade is set to be implemented on December 3. This technical improvement should result in lower network fees down the road while increasing the efficiency of layer-2 protocols like Arbitrum and Base.

“The Fusaka upgrade is expected to deliver noticeable benefits for Ethereum users. The introduction of EIP-7594 and EIP-7918 will enable rollups to operate more efficiently, reducing gas costs and settlement times,” Binance’s Research Team commented on the upgrade.

“As a result, users can experience cheaper and faster transactions even when the network is under heavy demand. Beyond this, EIP-7951 improves Ethereum’s compatibility with Web2 wallets, making it easier to connect to the Ethereum network,” the report further adds.

Back when the Pectra upgrade was implemented in April this year, the price of Ethereum (ETH) started to recover and delivered strong gains.

At a point when institutional adoption is increasing, and Wall Street is falling in love with cryptos, can this upgrade provide a strong catalyst to push ETH back to $4,000?