Yiliahua: Fusaka Upgrade Causes Ethereum Gas Fee Spike, Due to EIP-7918 Introducing Fee Floor

On December 5th, Li Hua, founder of Liquid Capital (formerly LD Capital), posted on social media: "Since Ethereum’s Fusaka upgrade, the blob base fee has skyrocketed by 15 million times. The core reason is the addition of EIP-7918, which introduces a ‘base fee mechanism’ for blob fees. Previously, blob fees had no minimum limit and stayed stuck at 1 wei (nearly free) for a long time—leaving nodes bearing costs like KZG verification without reasonable returns. Post-upgrade, blob fees must be ≥ 1/15.258 of the L1 execution base fee, directly anchoring to actual network costs. This design not only ensures prices reflect real resource consumption (stopping L2s from free-riding on network resources) but also regulates blob traffic via price fluctuations to prevent congestion. Plus, PeerDAS technology has boosted blob storage capacity. Additionally, blob fees are part of the ETH burn mechanism. It’s estimated future burns could be 8x higher, with blob fees potentially contributing 30-50% of total burns by 2026 (depending on L2 transaction volume growth)."