Ethereum

1/ Nearly 1 month since blobs entered the Ethereum ecosystem! 

Here's a snapshot of the current state:

- 334k total blobs since the Dencun upgrade (244k unique blobs);
- 78k total blocks with blobs;
- 181k total blob transactions.

Keep pushing forward!

2/ EIP-4844 introduced a new blob gas market. The blob base fee is based on supply and demand. 

More blobs in the block than 3 (the current target) increase the blob base fee. Less blobs in the block than the target decrease the blob base fee.

https://app.metrika.co/ethereum/dashboard/gas-and-fee-markets?tr=2w

Ethereum Segment Lead at everstake.one | ETH Staking

4/ Despite this volatility, there were instances during the peak of blobscription where the blob base fee per gas exceeded the execution base fee by many multiples. Nonetheless, even with a higher blob base fee during the peak of blobscriptions, blobs remained more affordable than calldata.

5/ On April 4th, the blobscriptions activity decreased considerably, and the blob base fee per gas fell all the way back to 1 wei.

5/ On April 4th, the blobscriptions activity decreased considerably, and the blob base fee per gas fell all the way back to 1 wei. 

https://x.com/hildobby_/status/1775822800164475293

3/ Probably the biggest challenge of this period was the blobscription launch.

Launched on March 27, Inscription caused a notable spike in activity. The blob base fee per gas surged from 1 wei to approx. 650 Gwei.

https://www.blocknative.com/blog/blobsplaining-part-2-lessons-from-the-first-eip-4844-congestion-event