
The stupid that walk among us have started using blobspace for inscriptions ...it's probably good stress testing at least? Interested to see how high the blob base fee gets https://t.co/chvZDRGb8G
In the past 24 hours @base users paid ~666 ETH in fees ~566 ETH ($2M) to @Coinbase ~100 ETH ($352k) to @Optimism ~.30 ETH ($1k) to @Ethereum h/t @MSilb7 https://t.co/bf9iafcxEy https://t.co/bbuevPMhKG
blob inscriptions have triggered the blob market 🙃 https://t.co/2iQV9mraFT

Base, a blockchain platform, has experienced a significant increase in transaction fees and user demand, leading to a series of measures to address the issue. In the past 24 hours, Base users paid approximately 494 ETH in fees, with ~420 ETH ($1.5M) going to Coinbase, ~74 ETH ($265k) to Optimism, and ~.25 ETH ($1k) to Ethereum. The fees reached a new high of $1.73M, with only $4k paid to Ethereum. Since rolling out update 4844, Base has seen a 5x increase in demand, prompting the team to announce plans to reduce fees and scale the platform. This includes increasing the gas target from its current level to 3.75 mgas/s and then to 5 mgas/s after an observation period, with the ultimate goal of reaching 1 Ggas/s. The team is focused on scaling the chain, supporting builders, and improving system performance. Meanwhile, the introduction of 'blobs' and 'inscriptions' has triggered new market dynamics, with the Blob Base Fee rising exponentially, indicating a potential stress test for the platform.