On July 6, Vitalik Buterin unveiled a multi-year transformation initiative called 'Lean Ethereum' targeting 10,000 transactions per second. This overhaul is positioned as the third fundamental evolution of the network, comparable in scope to the 2022 Merge. On July 8, Ethereum mainnet gas fees dropped to 1 gwei, providing a rare window for low-cost transactions. On July 9, Ethereum gas fees fell to as low as 1 gwei, significantly slowing the network's ETH burn rate.
