Ethereum’s Bold Leap: EIP-7938 Proposal Aims for 100x Scaling Boost by 2029
Ethereum core developer Dankrad Feist has introduced EIP-7938, a groundbreaking proposal designed to scale Ethereum’s Layer 1 capacity by 100 times within the next four years. This ambitious plan focuses on gas limit adjustments to enhance network throughput and mitigate congestion, positioning Ethereum for sustained growth. The announcement comes as Ethereum trades at $1,850, with developers emphasizing scalability improvements despite potential security trade-offs. If implemented, EIP-7938 could significantly future-proof the network, ensuring its competitiveness in the rapidly evolving blockchain landscape.
Ethereum Proposes 100x Scaling Boost with EIP-7938 Upgrade
Ethereum CORE developer Dankrad Feist has unveiled EIP-7938, a radical scaling proposal targeting a 100-fold capacity increase within four years. The plan focuses on Layer 1 enhancements through gas limit adjustments, aiming to future-proof the network against congestion.
Market observers note the timing coincides with Ethereum’s $1,850 price level, as developers prioritize scalability over security trade-offs. The proposal could reshape transaction economics across major exchanges like Coinbase and Binance where ETH liquidity concentrates.
Ethereum Whales Accumulate $7M in ETH as Price Eyes $2200
Three crypto whales have aggressively accumulated Ethereum, purchasing 5,362 ETH worth over $7.2 million in coordinated moves. The transactions, tracked by Lookonchain, signal strong institutional interest as ETH price rallies 5% to $1,862.
One entity borrowed $3.44 million USDC from Aave to acquire 1,856 ETH, while another Leveraged $2.34 million for 1,259 ETH. A newly created wallet withdrew 2,250 ETH ($4.12 million) directly from Binance - the kind of cold storage move that typically precedes long-term holding.
The buying spree coincides with Ethereum breaking key resistance levels. market makers appear to be positioning for the $2,200 threshold, a psychological barrier that could trigger further upside if breached.
Ether Nears Key Resistance as Bulls Eye $2K Amid Strong On-Chain Signals
Ethereum’s native token ETH consolidates between $1,740 and $1,870, testing the upper boundary of its weekly range. A decisive breakout above the $1,861 daily resistance could catalyze momentum toward the psychologically significant $2,000 level, with the RSI suggesting bullish strength remains intact.
Market participants note a striking decline in Ethereum’s Exchange Supply Ratio, signaling accelerated migration of ETH to DeFi protocols and cold storage. This on-chain dynamic coincides with heightened network activity, reflecting growing institutional interest despite macroeconomic uncertainties.
The $1,700 level now serves as critical support—a breach below this threshold may trigger a retest of the $1,500 consolidation zone. Derivatives data reveals mounting open interest at current levels, suggesting traders are positioning for volatility expansion.
Ethereum Faces Critical Challenge in Attracting Next-Gen Developers
Ethereum’s community has been cautioned about its long-term viability as Jacob Franek, co-founder of Alliance, warns of structural shortcomings. The network’s over-reliance on hackathons—often yielding few viable products—is stifling innovation while competitors prioritize speed and simplicity.
Franek argues that Ethereum’s failure to adapt to younger developers’ preferences for streamlined, opportunity-driven ecosystems could accelerate talent migration. "The next wave of builders won’t wait for legacy systems to catch up," he implied, noting that user experience investments now determine blockchain relevance.
