Ethereum Gas Limit dey 37.3M, TPS Reach 18 as ETH Eye $4K
For July 20, Ethereum gas limit increase from 36 million go 37.3 million units, dis na im first big Layer 1 expansion since February. Near half of ETH validators dey support to boost gas limit more go 45 million to improve scalability. Because of dat, network throughput climb reach 18 transactions per second (TPS) from 15 TPS before. Dis upgrade join wit 25% weekly rally for ETH, wey gain 3.5% on top dis news as e near $4,000 breakout. Even though higher gas limit fit make transactions fast and reduce congestion, e fit still increase storage and validation costs, wey fit affect decentralization. EIP-1559 fee burn mechanism still dey work, so gas fees still go dey move as demand change. Layer 2 rollups and client optimizations dey help cover these risks, but node hardware requirements fit increase. Traders suppose dey watch Ethereum gas limit increase, throughput increase and fee changes for possible market chances and centralization pressure.
Bullish
For short-term, di gas limit climb to 37.3 M and di TPS to 18 help solve congestion, fit lower gas fees and support ETH price go up reach $4,000. Di market response wey be 3.5% price gain show say traders get better feeling. For long-term, for Layer 1 capacity increase and client improvements go fit push bigger DeFi, NFT and GameFi adoption, wey go bring institutional interest. But increase for node wahala fit cause validation to centralize. Overall, better scalability and steady demand dey support correct outlook for ETH, even though centralization risk dey.