TechFlow reports that the Ethereum ecosystem has reached a record high in transactions per second (TPS), driven by a sudden surge in TPS from a relatively unknown Ethereum Layer 3 network.
According to L2BEAT data, on June 16, the combined TPS of Ethereum's Layer 2 and Layer 3 scaling networks reached 246.18, amounting to approximately 21.2 million transactions. Specifically:
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Over 41% of transactions occurred on the new Layer 3 solution Xai. Prior to June 10, Xai's TPS was around 1 per day, but it has risen nearly every day since then, reaching 101.72 TPS on June 16.
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Base and Arbitrum followed in second and third place with nearly 33 TPS and 21 TPS respectively.
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In fourth place is Proof of Play Apex, another gaming-focused Layer 3 scaling solution launched by Offchain Labs.
However, the total value locked (TVL) for both Xai and Proof of Play Apex remains relatively small at $1.38 million and $695,000 respectively. In contrast, Arbitrum One and Base have secured $18 billion and $7.6 billion in TVL.
Some industry analysts argue that TPS is overrated when assessing blockchain performance, yet it remains the most widely used metric.
