A Rocky Year: Ethereum Turns 11 Years as ETH Trades 61% Below the High Set Last August

Ethereum’s (ETH) genesis block turned 11 on July 30, closing quite a busy year. The network now runs on a 60 million gas limit, double where it sat two years ago, with rollups carrying roughly 95% of its transactions.

On the morning of the anniversary, blocks were landing about 229 transactions each, close to 21 per second on the base layer, and running 55% full.

The base fee sat near 5.3 gwei, which works out to about $0.20 for a plain ETH transfer, $0.52 for an ERC-20 transfer, and $3.79 for a swap, according to data from Etherscan. Scaling and ETFs The fund wrappers arrived alongside the scaling.

Morgan Stanley began trading the cheapest US ether ETP at a 0.14% expense ratio on Tuesday, staking 50% to 80% of its holdings and passing the rewards through. Likewise, BlackRock’s ETHB holds spot ETH and stakes a portion of it, the firm’s first crypto fund to do so.