According to Vitalik Buterin, nearly 50% of staked Ethereum (ETH) is voting to increase the Layer 1 gas limit to 45 million. Buterin highlighted that the gas limit has already started to rise, reaching 37.3 million. For traders, this potential increase in the gas limit could lead to lower transaction fees on the Ethereum mainnet, potentially boosting network activity and impacting the valuation of ETH and the competitive landscape for Layer 2 solutions.

According to IntoTheBlock, total ETH fees have decreased to their lowest level since 2020 this quarter. This decline is mainly attributed to the increase in gas limits and the migration of transactions to Layer 2 solutions, which have reduced on-chain congestion and costs.

According to IntoTheBlock, the recent increase in the Ethereum gas limit has led to transaction fees regularly processing for under 1 gwei, marking some of the lowest fees the network has experienced in years. This development could potentially boost trading volumes as lower transaction costs make Ethereum more attractive for traders and decentralized applications.

According to IntoTheBlock, Ethereum transaction fees have decreased by over 70% this week. This significant reduction is attributed to a recent increase in the gas limit, which has made transactions cheaper for users. This development could positively impact trading activity by reducing transaction costs, thus potentially increasing market liquidity. (Source: IntoTheBlock)

According to Vitalik Buterin, the blob limit in Ethereum should be a staker voted parameter, similar to the gas limit. This would align with the proposal to implement the system of treating gas and blobs consistently, potentially affecting transaction processing and network scalability. Buterin suggests starting with two dimensions to test the harmonization process. This proposal could influence trading strategies by altering transaction costs and network efficiency, impacting Ethereum's market dynamics.