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ETHEREUM EXPERIENCES SURGE IN BLOB TRANSACTIONS, EXCEEDING NETWORK CAPACITY The rate of blob transactions on Ethereum has surged beyond the network's capacity due to increased demand following the introduction of inscriptions on blobs. The Dencun upgrade, implemented by… https://t.co/SAWzZbZWgW
Ethereum sees 2437 Blob inscriptions in a day, leading to a huge rise in fees. from @deepnftvaluebot https://t.co/NswH0aj1zn
Blob-Based #Ethereum Inscriptions Rise Sharply https://t.co/yW8eBlr0oq
The Ethereum blockchain has seen a surge in blob inscriptions, leading to a significant increase in transaction fees. These inscriptions, known as 'BlobScriptions,' have caused Ethereum's network to reach full capacity, with fees peaking at $300 and a 10,000% rise in transaction fees. The rise in blob inscriptions has triggered 'Blob Contention,' with over 40% of Ethereum inscriptions being blob-based, surpassing Bitcoin's Ordinals in usage.