Ethereum achieves ATH on key performance metrics

Ethereum (ETH) has hit a new all-time high (ATH) in the main performance index. as highlighted According to cryptocurrency analyst Joseph Young, blockchain has reached an ATH of 24,192 transactions per second (TPS). This represents the highest 7-day average TPS for Ethereum.

Improving Ethereum scalability and network efficiency

Notably, this peak in transactions indicates that the Ethereum blockchain is processing more requests than before. This development signals that Ethereum is undergoing a major shift in scalability and utility in the crypto space.

As Young emphasized, this growth may be a result of the Ethereum network being considered the “world’s computer.” Blockchains that run decentralized applications are rapidly expanding and are capable of processing large amounts of activity and transactions per second.

This means that Ethereum’s increased utility could drive an increase in value. According to Young, Ethereum is a decentralized economic engine that powers much of the world's finances. It also supports large-scale application-based activities in the financial sector.

Due to the increase in transactions, After Dencun upgrade Scalability of the Ethereum blockchain. To be clear, this upgrade was aimed at increasing scalability and reducing transaction fees in the ecosystem.

The recent milestone of 24,192 TPS thus demonstrates Ethereum's role as a high-throughput economic engine capable of executing large volumes of transactions.

Some members of the community believe this is a sign of exponential growth with great potential for the future of the decentralized economy. Many predict this achievement could transform decentralization as new speeds are achieved as networks expand.

Pay attention to the Fusaka upgrade

Meanwhile, in the broader Ethereum space, the next major network upgrade, Fusaka, is scheduled for early December. of face upgrade Enhance Ethereum's scalability, user experience, and security without sacrificing decentralization.

Many community members expect the price of Ethereum to increase significantly after the Fusaka upgrade launches in early December. This expectation stems from the belief that upgrades will improve deployment and network efficiency.

As of this writing, Ethereum is change It traded at $3,153.25, representing an increase of 0.7% in the past 24 hours. The asset rose from a low of $3,071.97 to reach an intraday high of $3,252.66 before settling at the current price level.

This volatility may be the reason for the low trading volume. Ethereum trading volume decreased by 34.47% to $35.12 billion during the same period. Investors are reluctant to start saving bearish momentum In the market space.