Ethereum Holds Firm Amid Policy Setbacks and Rate Hike

Ethereum weathered the recent legislative setbacks and Federal Reserve interest rate hike surprisingly well. The Senate's vote to block the Digital Asset Market Clarity Act led to a brief sell-off in Bitcoin and Ethereum, but both quickly regained their footing.

The network itself has not been waiting on Washington to keep busy. Ethereum's layer-one processed 203.9 million transactions in the second quarter, up 68% year over year, with average throughput hitting an all-time high of 25.9 transactions per second.

Vitalik Buterin supports a proposal aimed at enhancing Ethereum's quantum resistance, which would introduce recursive STARK aggregation to cut the cost of quantum-safe transactions dramatically.