Ethereum blob base fee jumps 15 million-fold after Fusaka upgrade implements EIP-7918

Ethereum's blob base fee surged 15 million times following the Fusaka upgrade, Yi Lihua, founder of Liquid Capital (formerly LD Capital), said in a Dec. 5 social media post. EIP-7918 introduced a minimum fee mechanism requiring blob fees to equal at least 1/15.258 of the L1 execution base fee, up from a previous 1 wei floor that left nodes inadequately compensated for KZG verification costs. The design ties pricing to network resource consumption and enables congestion control through price-driven blob traffic regulation, with PeerDAS technology expanding blob storage capacity. Yi noted blob fees now contribute to ETH's burn mechanism, with projections showing an eightfold increase in burns that could represent 30-50% of total burns by 2026, contingent on L2 transaction volume growth.