ETHEREUM ‘BLOBSCRIPTIONS’ LIFT OFF AND IT’S TAKING BLOB FEES WITH IT

Summary from the TLDR Crypto newsletter

Blobs, the new storage type for Ethereum L2s introduced in the March 13 Dencun upgrade, have been overrun by the inscriptions mania that previously congested several other chains earlier this year. BlobScriptions caused blob gas fees to spike to around $18, though it has since fallen to around $1.20. The fees should return to normal levels as the true value of blobs becomes evident after this price discovery phase.