In a remarkable milestone, the Ethereum scaling ecosystem has attained an unprecedented level of transaction capacity, reaching an all-time high of 246.18 transactions per second (TPS). This remarkable achievement signifies a major breakthrough in the network's efficiency and scalability, positioning Ethereum for sustained growth and adoption.

According to L2BEAT, a blockchain analytics firm, this notable accomplishment is attributed to both layer 2 scaling solutions and layer 3 blockchains, as well as sidechains designed to enhance the network's performance. Notably, Xai, an Arbitrum-based layer 3 game network, contributed significantly to this milestone, processing over 41% of the total TPS.

Xai's remarkable performance is a testament to its potential, having escalated from processing just one transaction per day on June 10 to achieving an impressive 101.72 TPS on June 16. Following closely behind Xai are Base and Arbitrum, ranking second and third respectively, with notable TPS of 33 and 21.

While these networks have demonstrated exceptional performance, some have underperformed in terms of total value locked (TVL). Xai, for instance, has a relatively modest TVL of $1.38 million, while Proof of Play Apex, another top performer, has a TVL of approximately $695,000. In contrast, Arbitrum One and Coinbase's Base boast substantial TVLs of $18 billion and $7.6 billion respectively.

This achievement highlights the Ethereum ecosystem's resilience and capacity for growth, despite the ongoing crypto winter. As the network continues to evolve and improve, it is likely to attract increased adoption and investment, further solidifying its position in the blockchain and cryptocurrency landscape.