Ethereum has reached a new transaction processing milestone, achieving 24,192 transactions per second (TPS) in the last 24 hours, thanks to the integration of the high-speed Layer 2 solution, Lighter. Lighter alone processes approximately 4,000 TPS, significantly enhancing Ethereum's base layer capacity of 100–200 TPS. This achievement follows recent upgrades, including Pectra and Dencun, which have bolstered Layer 2 throughput. Ethereum co-founder Vitalik Buterin and others celebrated the network's scalability advancements on social media. Bankless host Ryan Sean Adams attributed the 200x scalability increase since October to Lighter and ZK technology, forecasting TPS could reach 100,000 soon. Despite these advancements, Lighter has experienced several outages since its launch on October 1, with a significant incident on October 28 leading to compensation of $774,872 in USDC to affected wallets. Concerns have been raised about Ethereum's value accumulation sustainability, as Layer 2 solutions collect fees in stablecoins rather than ETH.