Ethereum’s gas limit increased to over 37.3 million units on Sunday, up almost 3% from last week, with validators signaling support to raise it to 45 million. This will reduce transaction fees and improve network scaling, leading to higher transaction throughput.

Almost half of all staked Ether is supporting the gas limit increase to 45 million or higher through a grassroots campaign called “pump the gas.” Currently, 47.2% of validators are in favor of higher gas limits, according to GasLimits.pics.

The “pump the gas” campaign aims to increase the gas limit, which is the maximum amount spent on executing transactions or smart contracts in each block. This initiative started in March 2024 to reduce transaction fees on Ethereum’s layer 1, with recent improvements making scale increases safer.

Ethereum network activity has surged, with daily transactions increasing from 1.1 million in April to 1.4 million currently. This uptick in activity has coincided with a 54% price increase over the past month, as Ether briefly topped $3,800 in a seven-month high on Sunday. Corporate treasuries and ETFs are loading up on the asset.

Read more at CoinTelegraph: Ethereum Gas Limit Increases As Validators Back Network Expansion