Analysis: Ethereum network exhibits a high throughput and low fee "paradox", may shift from base layer to settlement layer

Jinse Finance reported that a certain exchange's report pointed out that Ethereum previously set a historical record by processing approximately 2.88 million transactions in a single day, yet the average transaction fees remained low. This presents a "paradox" of high throughput and low fees. The market generally believes that this phenomenon indicates that Ethereum's long-term technical roadmap (especially the Layer 2 scaling strategy) is beginning to show results. In this cycle, network usage has increased, but the base layer continues to operate smoothly, demonstrating a higher level of system maturity. The Ethereum mainnet is gradually transitioning into a neutral settlement and coordination layer, and this modular architecture is more akin to the layered logic of traditional financial infrastructure: the underlying layer focuses on security, certainty, and final settlement, while the upper layers are responsible for innovation and handling complexity. However, some analyses have pointed out that recent transaction volumes may include a certain proportion of address poisoning and other low-value or adversarial activities, which is particularly evident in stablecoin transactions. This means that transaction volume alone is not sufficient to reflect real economic activity.