‘First fast’ Ethereum scaler Movement peaks at 12K TPS on testnet
Movement Labs co-founder Rushi Manche claims his Ethereum scaling blockchain is peaking at 12,000 transactions a second on testnet.
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Movement Labs co-founder Rushi Manche claims his Ethereum scaling blockchain is peaking at 12,000 transactions a second on testnet.
According to analysts at VanEck, Ethereum’s share of decentralized exchange trading volume has dropped from 42% in 2022 to 29% in 2024.
Layer-2 monthly active users and daily transaction counts have both doubled since March 2024, according to Token Terminal.
Layer 2s are a short-term success story, but the long-term picture appears less rosy.
On-chain activity for the Ethereum layer-2 network has picked up recently, but token prices remain at deep bear market levels.
Ethereum’s Dencun upgrade has “greatly improved” the economics of Ethereum rollups. However, Galaxy says it also brought more failed transactions.
Base said it had allotted 600 ETH, worth $2 million, for developers who would build on the blockchain from June to August this year.
Status partners with Linea, marking the beginning of a significant contribution to Linea’s zkEVM-powered L2 rollup as part of a broader decentralization effort.
The growth has been primarily driven by memecoin mania on the Coinbase L2 blockchain Base.
The median price to send an Ethereum transaction hit 1.9 gwei on the weekend, with low-priority transactions priced even lower.
