ChainCatcher news, according to IntoTheBlock data, after the Dencun upgrade, with the surge in L2 transactions, Ethereum mainnet fees have hit an all-time low. EIP-4844 has reduced L2 costs by 10 times, driving record transaction numbers.However, due to the decrease in the amount of ETH being burned, ETH has shifted from deflationary to inflationary.

ChainCatcher message, Galaxy Research posted on X platform revealing that since the Dencun upgrade, the revenue from Layer 2 for Ethereum L1 protocol has been almost 0."

ChainCatcher news, according to Cointelegraph, on June 23, the average Bitcoin transaction fee reached $1.93 per transaction, the lowest level since October 2023.In addition, ETH Gas fees are nearing historical lows, due to activity shifting from Ethereum to its Layer 2 network after the Dencun upgrade in March. Since the Dencun upgrade, the average gas price on Ethereum has decreased by about 92%. According to a report from Layer2 Insider, last week L2 networks generated $950,000 in revenue.

ChainCatcher news, analysts from the data company CryptoQuant stated that the Dencun upgrade has made Ethereum inflationary again, which may undermine its low-inflation currency characteristics. Due to the Dencun upgrade, the amount of Ethereum burned has fallen to one of the lowest levels since the merge, when Ethereum transitioned from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism, and the supply of Ethereum is growing at the fastest daily rate since the network merge.CryptoQuant analysts noted that prior to the Dencun upgrade, higher network activity on Ethereum meant higher burning fees, resulting in a lower supply of Ethereum. However, after the Dencun upgrade, the total burning fees have decoupled from network activity.The report concludes that at the current rate of network activity, Ethereum is unlikely to experience deflation again, or it will require higher network activity to revive.

ChainCatcher message, Matrixport's latest report points out that Solana is the main beneficiary of the recent meme coin craze, as the issuance and trading costs on Solana are very cheap, while Ethereum's gas fees remain relatively expensive - until the Dencun upgrade. Therefore, this upgrade may lead to a decrease in SOL/USDT trading volume.

ChainCatcher news, Uniswap released a usage research report on Uniswap on the Ethereum mainnet and Layer 2: As the largest application using Gas and block space on Ethereum, most of Uniswap's transactions actually occurred on Arbitrum, Polygon, and Optimism before the Ethereum Dencun upgrade. Ethereum only accounted for about 25% of the transaction count, but around 60% of the transaction volume. Uniswap expects more users to continue migrating to L2 in the future.

ChainCatcher message, Ethereum core developer Tim Beiko recorded the latest ACDE meeting content on social media, stating that the Dencun upgrade is progressing smoothly, with no major issues observed.Additionally, all upgraded EIPs will be transferred to the final version next week. Goerli will be "officially" shut down next month. Most validators have already shut down.The meeting then discussed the upcoming fork Pectra, where Stokes raised some design questions regarding the EIP-2537 BLS precompile, which has been included in the fork.

ChainCatcher news, according to CoinDesk, after the Dencun upgrade, developers published the entire script of "Bee Movie" on the Ethereum chain, an animated comedy directed by legendary comedian Jerry Seinfeld, which tells the story of a bee suing humans.Paradigm developer Dan Cline stated that his initial transaction cost was around $14, and shortly after, as fees further decreased, another developer published the script for $5. Copying and pasting the "Bee Movie" script is a niche internet meme that originated on Tumblr and quickly spread to Reddit, YouTube, Facebook, and other social media platforms.