Ethereum's transaction speed has reached unprecedented levels, thanks to a significant boost in Layer3's transaction capacity. On June 16, the Ethereum network processed a total of 246.18 transactions per second, equivalent to approximately 21.2 million transactions throughout the day. Xai, a novel Layer3 expansion solution designed for gaming applications, played a significant role in this achievement, accounting for over 41% of the total transactions.

Xai's transaction capacity surged from a mere 1 transaction per day before June 10 to a remarkable 101.72 transactions per second on June 16. Base and Arbitrum followed closely, with 33 and 21 transactions per second, respectively. Proof of Play Apex, another Layer3 expander focused on gaming, secured the fourth position. While Xai and Proof of Play Apex have relatively modest total value locked (TVL) at $1.38 million and $695,000, respectively, Arbitrum One and Base boast substantially higher TVL at $18 billion and $7.6 billion.

This remarkable increase in transaction speed highlights Ethereum's potential for scalability and its ability to support a high volume of transactions. The growth of Layer3 expansion solutions like Xai and Proof of Play Apex indicates a promising future for Ethereum's gaming applications. As the network continues to evolve, we can expect even more impressive advancements in its transaction capacity.

The substantial difference in TVL between Xai and Proof of Play Apex compared to Arbitrum One and Base underscores the relative infancy of these new expansion solutions. However, their rapid growth and increasing adoption suggest a bright future for Ethereum's Layer3 ecosystem. As the network continues to mature, we can expect to see even more innovative applications and significant advancements in transaction speed.

Ethereum's achievement in reaching a new record high in transaction speed is a testament to its dedication to improving its scalability and performance. With the continued development of Layer3 expansion solutions, Ethereum is poised to solidify its position as a leader in the cryptocurrency market.