The Ethereum blockchain has seen a significant increase in blob inscriptions, leading to a surge in blob transaction fees. These inscriptions, known as 'BlobScriptions,' have caused Ethereum's network to reach full capacity, with fees spiking over 10,000% to $300. The rise in blob usage has triggered a 'Blob Market' and 'Blob Contention,' with inscriptions comprising a substantial portion of daily blobs posted. The Dencun upgrade introduced blobs to reduce layer-2 fees, but the high demand has exceeded network capacity.