Ethereum Processes 27 Million Transactions in One Day
On September 19, the Ethereum ecosystem processed 27 million transactions in a single day. This volume surpassed major European payment systems, bringing Ethereum closer to mainstream finance. The record coincided with Vitalik Buterin unveiling a new roadmap in Japan. The plan focuses on scaling Layer 1 (L1), unifying Layer 2 (L2), and securing Ethereum’s long-term dominance.
Data from GrowThePie shows that Layer 2 solutions handled most transactions. Arbitrum, Optimism, Polygon, and Base processed 25 million transactions. The Ethereum mainnet accounted for just two million.
According to data shared by Onchain Foundation’s Leon Waidmann, Ethereum’s daily transaction volume now exceeds the UK’s Faster Payments and Germany’s Girocard systems. The network also hosts $90.7 billion in Tether (USDT).
Vitalik Buterin Outlines Ethereum’s Future Upgrades
Vitalik Buterin addressed the Japan Developer Conference, highlighting challenges in the current Layer 2 ecosystem. He described the L2 networks as “disorganized” and fragmented.
The Layer 2 boom created several active but disconnected networks. Arbitrum, Optimism, zkSync, and Base are busy hubs compared to the L1 chain. However, moving assets between them is complex and costly. This causes several issues:
- Fragmented liquidity: Capital is locked within individual L2s, limiting access to deep liquidity pools for dApps and users.
- Poor user experience: Users must navigate complex cross-chain bridges with varying security, fees, and withdrawal times.
- Centralization risk: Many L2s rely on a single centralized sequencer to process transactions, creating a potential point of failure.
Buterin aims to create trustless and seamless interoperability between L2s. His goal is to build a unified financial and application layer secured by Ethereum’s base layer.
Ethereum Price Rises Amid Growing Network Activity
Ethereum’s price has reacted positively to the network’s increased activity. From May to September, ETH’s price more than doubled, rising from $2,205 to $4,440. This growth highlights Ethereum’s central role in crypto payments.
Beyond payments, the Ethereum Foundation is developing applications for the AI economy. A new “dAI Team” focuses on building a decentralized AI stack. Long-term research priorities include quantum resistance, formal verification, and advanced cryptography. These efforts aim to strengthen Ethereum’s security against future threats.
The surge in transaction volume shows strong demand for a scalable Ethereum network. Buterin’s roadmap emphasizes that future innovation will focus on uniting Layer 2 networks, not just scaling them individually.
