Ethereum Hits 11 Years: Scaling Gains Marred by Token's Slump
Ethereum's native token has had a tumultuous year, marking its 11-year anniversary on July 30. The network behind the world's largest altcoin now operates with a gas limit of 60 million, more than double what it was two years ago.
The Ethereum network is seeing significant scaling improvements, with rollups carrying roughly 95% of transactions. Blocks are landing at around 229 transactions each, and about 21 per second on the base layer, which is running at a 55% capacity rate.
Morgan Stanley has begun trading a US ether ETP (Exchange-Traded Product) with an expense ratio of 0.14%, staking between 50-80% of its holdings and distributing rewards to investors. BlackRock's ETHB also holds spot ETH, staking a portion of it, marking the firm's first crypto fund to do so.
The Ethereum Foundation has undergone significant changes in recent months, with around 54 colleagues departing, roughly 20% of its workforce, reorganizing into five clusters. Investor Ryan Berckmans attributed the exodus to disagreements over sub-strategies, stating that confidence in the network itself was not the reason.