Ethereum's Dencun Upgrade Slashes L2 Fees, Unlocking New Crypto Use Cases

Median transaction costs on Optimism, Zora, Base and other Ethereum L2s have plunged after the Dencun upgrade enabled "blobs" of data.

Jesse Pollak of Base L2 shared a screenshot showing a transaction that previously cost $0.31 now looks free but actually costs $0.0005.

Coinbase CEO Brian Armstrong said on Twitter that lower L2 fees from Dencun will open up more crypto use cases by finally providing scalability.

The Optimism Twitter account also posted a screenshot showing its sub-penny transaction fees make it one of the cheapest L2s currently.

Core Ethereum developer Anthony Sassano cautioned demand may increase L2 blob prices from initial lows as adoption grows over time.