Ethereum is entering a pivotal phase, with its network processes registering transaction loads even as net supply returns to moderate inflation. At the same time, traders highlight repeating wave patterns with new “discount zones” on the chart, framing the current decline as a potential launch pad for the next big move.
Ethereum Network Sets New TPS Record for Layer 2 Read Activity
The Ethereum ecosystem has set a new record for average transactions per second in a single day, according to data cited by ChainCatcher from Growthepie. Over the past 7 days, the average daily TPS reached 364.52 and the peak throughput reached 24,192 TPS. This highlights how much activity is flowing through the network’s broader stack.
Ethereum daily TPS chart. sauce: Joseph Young/growthepie.com
At the same time, Layer 2 solutions account for approximately 95.35 percent of total TPS, highlighting their increasing role in handling user demand and scaling out workloads from the main chain. Additionally, Perp DEX Lighter contributed a significant share of this traffic, further strengthening the migration of trading and derivatives activity to Ethereum’s Layer 2 market.
Ethereum supply has seen a net increase over the past week
ethereum According to the data, supply has increased over the past 7 days, with net issuance increasing by 18,019 ETH. ultrasound.money. This increase increases the total supply to 121,234,582 ETH, reflecting an annualized growth rate of approximately 0.776%.
At the same time, the numbers indicate that Ethereum is operating in a mild inflationary mode after recent low on-chain fees and a slowdown in write activity. This movement is in contrast to earlier periods when strong demand caused more ETH to disappear than was issued, causing the asset to experience temporary deflation.
Ethereum chart highlights repeating wave structure
On the other hand, Ethereum chart show A repeating three-wave pattern that analysts classify as ignition, adjustment, and expansion. This structure appears over several points on a multi-year timeline, with each cycle forming within a broad ascending channel. The latest swing is in its second phase, with prices pulling back from recent highs and moving toward the discount zone that analysts are watching.
Ethereum discount zone wave structure. sauce: Merlin the Trader/X
At the same time, the chart places the current move within the lower half of the channel, with the previous retracement also stabilizing before turning upward. The support area drawn between the mid-$2,000 area and the trend line reflects the zone where the previous correction slowed down, creating the base for the next big wave. This visual coincidence highlights how traders are interpreting pullbacks as part of the same repeating structure rather than as a break in the trend.
Additionally, the projection on the right side of the chart maps a potential third wave that follows the rhythm of the previous pattern. The dotted path shows an exemplary trajectory, but the main point of the chart is that this three-stage wave sequence repeats over 2022, 2023, and 2025. Repeated formations and consistent reaction zones form the basis for traders to interpret the ongoing move as another correction within a broader upward channel.
