๐Ÿš€Hey there, BTC enthusiasts! Let's take a quick detour and talk about Ethereum for a moment. It's not all about price, you know. The latest buzz is all about scaling solutions, and boy, are they thriving! ๐ŸŽ‰

According to L2beat, Ethereum's scaling networks achieved a new all-time high of 246 transactions per second (TPS) on June 16. That's a whopping 21.2 million transactions in a single day! ๐Ÿ“ˆ The higher the TPS, the more transactions the blockchain can process simultaneously, leading to faster transaction times.

Leading the pack is Xai, an Arbitrum-based Layer 3 game network for Ethereum developed by Offchain Labs. Xai contributed a massive 41% of the total TPS across the Ethereum ecosystem. Base and Arbitrum followed in second and third places, respectively. Another Layer 3 player, Proof of Play Apex, focused on gaming applications, secured fourth place. ๐Ÿ†

However, it's not all rosy. Despite their high TPS, some networks, like Xai and Proof of Play Apex, have underperformed in terms of total value locked (TVL). In contrast, Arbitrum One and Coinbaseโ€™s Base are the two largest scaling solutions on the Ethereum network in terms of TVL.

So, while we're all about BTC, it's worth keeping an eye on Ethereum's scaling solutions. They're reaching new heights, and that's something to celebrate! ๐ŸŽŠ