NEWSLETTER
The main source of income of the ethereum network of the scale chains of layer 2 (L2)-“Blob rates”-has sunk at the lowest weekly levels so far this year, according to Etherscan data.
In the week ending on March 30, ethereum obtained only 3.18 ether (eth) of Blob rates, <a target="_blank" data-ct-non-breakable="null" href="https://x.com/etherscan/status/1907029498681520375″ rel=”null” target=”null” text=”null” title=”null”>according to Eserscan, or approximately $ 6,000 US dollars to April 1.
This figure marks a 73% drop since the previous week and a decrease of more than 95% of the week ending on March 16, when ethereum's revenues from Blob's rates exceeded 84 eth, Etherscan <a target="_blank" data-ct-non-breakable="null" href="https://x.com/etherscan/status/1904126284588007504″ rel=”null” target=”null” text=”null” title=”null”>saying In a publication x.
Fountain: <a target="_blank" data-ct-non-breakable="null" href="https://x.com/etherscan/status/1907029498681520375″ rel=”nofollow noopener” target=”_blank” text=”null” title=”https://x.com/etherscan/status/1907029498681520375″>Ether
Related: ethereum tariffs lists for bouncing in the middle of L2, Blob Uptick
Growth pain after disadvantage
In March 2024, ethereum's Dencun update migrated the transaction data L2 to the temporary stores of the chain called “Blobs”.
The update reduces costs for users, but also reduced the general income of rates for ethereum, initially up to 95%, according to Asset Manager Vaneck data.
“The eth rates were weak due to the lack of income by Blob since the L2 have not filled the available capacity,” said Matthew Sigel, head of Vaneck digital asset research, on November 1, 2024, <a target="_blank" data-ct-non-breakable="null" href="https://x.com/matthew_sigel/status/1852407723230671148″ rel=”null” target=”null” text=”null” title=”https://x.com/matthew_sigel/status/1852407723230671148″>mail On platform x.
Since then, Blob rates growth has been unstable. The weekly income of the ethereum BLOB cover reached its maximum point by almost $ 1 million in November before declineing in recent weeks, according to data of Dune Analytics.
ethereum's Blob rate entry has been unequal. Fountain: Dune analysis
ethereum's continuous fight to obtain significant income from Blob rates underlines concerns about the network scale model, which depends largely on L2 for transaction yield.
“ethereum's future will revolve around how effectively it serves as a data availability engine for L2S,” said Arndxt, author of The Threading on the Edge Boletter, in a March x x <a target="_blank" data-ct-non-breakable="null" href="https://x.com/arndxt_xo/status/1906888194588844113″ rel=”null” target=”null” text=”null” title=”null”>mail.
According to an x <a target="_blank" data-ct-non-breakable="null" href="https://x.com/JustDeauIt/status/1906815975674028525″ rel=”null” target=”null” text=”null” title=”null”>mail By Michael Nadeau, founder of the DEFI report, L2 transactions volumes would need to increase more than 22,000 times for BLOB rates to completely compensate for the maximum transaction rates of ethereum transaction rates.
However, ethereum's economy is still evolving. For example, the pecto update of the network, which aims to change significantly how ethereum assigns the BLOB space, is scheduled for this year.
“The plan is simple: ethereum scale as much as possible to capture the largest amount of market we can, worry about rates income later”, founder of the Daily Gwei, <a target="_blank" data-ct-non-breakable="null" href="https://x.com/sassal0x/status/1901758164787441741″ rel=”null” target=”null” text=”null” title=”null”>saying In a position of March 17 x.
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