Ethereum developers are preparing for the network’s second upgrade of 2025 to go live on the blockchain’s mainnet on Wednesday. Fusaka – a mix of the names Fulu + Osaka – consists of two upgrades that happen on Ethereum’s consensus and execution layers at the same time. The goal of the upgrade is to enable Ethereum to handle the large transaction throughput from the layer-2 chains that use blockchain as their base layer.
Shades of Gray is expected to convert its chain link trust in an exchange-traded fund on Tuesday. The conversion will create the first chainlink ETF and completes a journey that started in September. It will join ETFs that include the two biggest cryptocurrencies, bitcoin and ether as well as solana and and follows less than a week after the debut of its offers, Grayscale Dogecoin Trust ETF (GDOC).
What to see
- Crypto
- December 1: 21Shares Core XRP Trust (TOXR) is expected to begin trading on the Cboe BZX Exchange.
- December 1: Ontology (ONG) activates mainnet v3.0.0 upgrade, reduces ONG supply from 1 billion to 800 million, locks liquidity, expands emissions, and optimizes network performance.
- December 1: Qtum (QTUM) is expected to undergo its second halving event, reducing mining rewards by 50% from 0.5 QTUM to 0.25 QTUM per block.
- December 1st: Starknet (STRK) enables “Privacy Perps” on mainnet with layer 2 masking for private perps trading.
- December 2: The Grayscale Chainlink Trust ETF (GLNK) is expected to begin trading on the NYSE Arca, converting the existing Chainlink trust into a spot Chainlink ETF.
- 2 December at 12:00: December 2: MultiversX (EGLD) “Staking V5” mainnet upgrade activates in epoch 1951.
- December 2: VeChain (VET) Hayabusa hard fork upgrade activates on mainnet at block 23,414,400.
- December 3: Ethereum’s Fusaka network upgrade is activated at epoch 411392 on the mainnet. Live stream link.
- December 7: Beldex (BDX) “Obscura v7.0.0” hard fork upgrade is scheduled for block height 4939540 on the mainnet.
- Macro
- December 1: The Federal Reserve ends quantitative easing (QT) and halts balance sheet reduction from this date as it aims to stabilize financial markets amid tightening liquidity conditions.
- 1 December at 8: Brazil November S&P Global Manufacturing PMI (previous 48.2).
- 1 December at 9.30am: Canada November S&P Global Manufacturing PMI (previously 49.6).
- 1 December at 9:45 AM: US November (final) S&P Global Manufacturing PMI Est. 51.9.
- 1 December at 10: Mexico November S&P Global Manufacturing PMI (previously 49.5).
- 1 December at 10:00: US ISM Nov. Manufacturing PMI Est. 48.6.
- 1 December at 20: Federal Reserve Chairman Jerome H. Powell speech. Watch live.
- 2 December at 10: Federal Reserve Vice Chair for Supervision Michelle W. Bowman speech. Watch live.
- 3 December at 8: Brazil November S&P Global PMI. Services (previous 47.7), composite (previous 48.2).
- 3 December at 08.15am: ADP employment change in US November (previously 42K).
- 3 December at 9:30am: Canada November S&P Global PMI. Composite (former 50.3), services (former 50.5).
- 3 December at 9:45am: S&P Global (final) US PMI November. Composite Est. 54.8, Services Est. 55.
- 3 December at 10: US November ISM Services PMI (previous 52.4).
- 4 December at 7: Brazil’s GDP growth in the 3rd quarter. QoQ (Previous 0.4), YoY (Previous 2.2).
- 4 December at 8:30 AM: US Initial Jobless Claims for Week Ended Nov 29 (Prev 216,000), Continuing Jobless Claims for Week Ended Nov 22 (Prev 1960,000).
- 4 December at 12:00 p.m.: Federal Reserve Vice Chair for Supervision Michelle W. Bowman speech.
- 5 December at 7: Brazil October PPI. YoY (Prev -0.4), MoM (Prev -0.25%).
- 5 December at 08:30: Canada November unemployment rate (previously 6.9%).
- 5 December at 10: USA (preliminary) University of Michigan study. Consumer Sentiment Index (previous 51); Inflation expectations (previously 4.5%).
- December 5, at 10:00 a.m.: US Sept. PCI Price Index. Headline YoY Est. 2.8%, MoM Est. 0.3%; Core YY Est. 2.9%, MoM Est. 0.2%.
- Earnings (Estimated based on FactSet data)
- December 1: Cango (CANG), after market.
- December 2: Forward Industries (FWDI), post-market.
Token Events
- Governance votes and calls
- The Lido DAO votes to approve the conversion of inactive treasury stablecoins into yield-bearing sUSDS or tokenized money market funds (TMMFs) to generate revenue. Voting ends December 1.
- The GMX DAO votes to approve a budget to compensate members of its newly elected Governance, Listing and Security Committee for their work over the next six months. Voting ends December 1.
- Decentraland DAO votes on a proposal to commission an independent audit of Regenesis Labs by community member “Maryana” to address concerns over fund use and transparency. Voting ends December 2.
- Arbitrum DAO votes to elect the final three members of the AGV Council in 2026 from a pool of six candidates. Voting ends December 4.
- Rootstock Collective votes to establish and expand the Rootstock Community (RSK) in Ghana. This initiative focuses on promoting the adoption of the Bitcoin sidechain by onboarding new users and training local developers. Voting ends December 4.
- Aavegotchi DAO votes to elect a new director of its founding company following the resignation of the current board members. Voters can choose between two candidates or vote to appoint both to ensure legal compliance and operational continuity. Voting ends December 6.
- Unlocks
- December 1: to unlock 1.19% of its circulating supply worth $68.07 million.
- December 1: to unlock 10.79% of its circulating supply, worth $23.07 million.
- December 2: to unlock 0.58% of its circulating supply, worth $11.77 million.
- December 10: to unlock 6.76% of its circulating supply, worth $14.63 million.
- The token is launched
- December 1: Giggle Academy will see 50% of all trading fees collected from GIGGLE pairs on Binance be donated to it and partially burned.
- December 4: Alpha Partners’ cross-chain bridge and decentralized exchange go live.
- December 5: to burn 90% and distribute 10% of purchased tokens during the month to ezREZ players.
Conferences
