The Ethereum network’s main source of income from layer-2 (L2) scaling chains — “blob fees” — has sunk to the lowest weekly levels so far this year, according to data from Etherscan.
In the week ending March 30, Ethereum earned only 3.18 Ether (ETH) from blob fees, according to Etherscan, or approximately $6,000 US dollars as of April 1.
This figure marks a 73% drop from the prior week and a more than 95% decline from the week ending March 16, when Ethereum’s income from blob fees exceeded 84 ETH, Etherscan said in an X post.
Source: Etherscan
Related: Ethereum fees poised for rebound amid L2, blob uptick
Post-Dencun growing pains
In March 2024, Ethereum’s Dencun upgrade migrated L2 transaction data to temporary offchain stores called “blobs.”
The upgrade cut costs