Approximately 150000 Ethereum ETH $1 845 24h volatility: 2.6% Market cap: $222.72 B Vol. 24h: $14.22 B

validators, representing 15% of the network’s total, are tilting towards a proposal for large increase in the blockchain’s block gas limit.

Key Notes:

* Approximately 150,000 Ethereum validators, constituting 15% of the network’s total, are displaying support for a proposal to substantially increase the blockchain's block gas limit.

* This collective intention was revealed through an analysis of validator configurations, summarized on gaslimit.pics, a dashboard created by Ethereum researcher Toni Wahrstätter.

* The plan, as indicated by the dashboard, is to raise the gas limit to 60 million units. Currently, it is capped at 36 million, rendering the proposed limit an almost twofold increment.

* The push for a large increase in Ethereum's block gas limit aims at expanding Ethereum's Layer-1 transaction throughput further.

* Gas is a crucial concept in the Ethereum blockchain, serving as the fundamental unit for measuring the computational effort required to execute transactions or smart contracts.

* The gas limit, in essence, denotes the maximum amount of gas that all transactions can consume within a single block.

* An increased gas limit would enable each block to process more data and, in turn, boost the network to handle a higher volume of transactions.

* For other major protocol upgrades, such a change would usually need a hard fork, but in this case, it does not. All validators need to do is adjust their node configurations whenever they are proposing blocks.

* The block gas limit adjusts as soon as over 50% of validators show support.

* Some developers have voiced concerns regarding the strain that raising the limit could have on node operators' hardware and its potential impact on network operations.

* Should this proposed boost be adopted, it would mark the second time that the fee is being adjusted in the last 6 months.

* Initially, the gas limit cap was 15 million, which was later raised to 30 million in 2021. By February 2025, the 30 million gas limit was adjusted to 36 million.

* It's noteworthy that Ethereum gas fees have been fluctuating in recent times. Last year, following the Ethereum Dencun upgrade which allowed the creation of Ethereum blobs, gas fees recorded a significant surge.

* A few weeks later, it was reported that the gas fees had their lowest drop in three years.

* According to onchain analytics platform Santiment, the average fee for transactions on the ETH network reduced to $1.12 per transaction at the time.

* This low drop-in fee level makes transactions easy and affordable for Ethereum users. Notably, the drop drew in more usage, which had a positive impact on the ETH price.

* However, ETH price has not seen the kind of improvement that's expected, especially after all the upgrades implemented in the Ethereum ecosystem lately.

* Additionally, the launch of spot Ethereum ETFs has not fully affected the coin's valuation after nearly a year.

* Ethereum is currently trading at $2,638.37, showing a 2.59% increase in the last 24 hours.