Ethereum Gas Limit Surpasses 37 Million as Nearly Half of Validators Consider Raising It to 45 Million

Key Points

1. Ethereum's gas limit has risen to over 37.3 million units, with 47.2% of validators supporting an increase to 45 million to boost throughput and lower fees.

2. The 'pump the gas' campaign, launched in March 2024, aims to dynamically adjust gas limits to meet demand without risking network instability.

3. Increasing the gas limit expands block capacity, reducing transaction fees but requires balancing network health and decentralization.

4. Ethereum's network activity has surged, with daily transactions climbing from 1.1 million in April to 1.4 million, driven by DeFi, NFTs, and institutional interest.

5. Ethereum's price has shown positive momentum, briefly reaching a seven-month high, reflecting strong accumulation and institutional demand.