"Ethereum's Dencun Upgrade Triggers Plunge in Gas Fees and Ether Dip"

Following Ethereum's Dencun upgrade, which significantly reduced data fees, developers have posted the entire script of the Bee Movie on the blockchain at a much lower cost using the new "blobs" feature designed for layer 2 networks. This has led to a drop in data fees on the Ethereum network, with fees on layer 2 network Optimism being less than a cent and Base blockchain reporting a 99.8% drop. Blobs provide a cheap way to temporarily store data about transactions, and the uploaded data exists on the network for about eighteen days before being permanently removed.