Over the weekend, Ethereum saw a significant increase in its gas limit, allowing for better transaction processing and lower fees for users.
Gas Limit Increase
The Ethereum gas limit rose to over 37.3 million units on Sunday, up almost 3% from levels late last week. This marks the first significant increase since February when the gas limit was raised from 30 to 36 million units.
Improved Transaction Throughput
With the higher gas limits, Ethereum's transaction throughput improved on the layer-1 network. Over the weekend, it ticked up to just below 18 transactions per second, which is higher than the previous rate of around 15 TPS. This increase has been made possible through validators signaling support for changes.
Network Activity and Ether Price
Ethereum network activity has also increased in recent months, with daily transactions rising from around 1.1 million in April to about 1.4 million. This uptick in activity has coincided with a price increase for Ether, which briefly topped $3,800, marking a seven-month high.
These developments in the gas limit and increasing network activity are promising for Ethereum users, indicating improvements in scalability and usability of the network.
