The cryptocurrency community has witnessed a significant development as Ethereum and Bitcoin adopt a new feature known as inscriptions, specifically through a method referred to as "BlobScriptions" for Ethereum. These inscriptions have led to a record number of transactions, with Ethereum reaching 2,437 inscriptions on March 27, accounting for 22.8% of total blobs for the day. This surge in activity has not only highlighted the growing interest in inscriptions but has also triggered a notable increase in the Blob Base Fee, which is reported to be rising exponentially. The phenomenon has drawn attention from various corners of the crypto world, with platforms like @mempool adding filters for inscriptions and the market responding to the increased activity around blob inscriptions.
A new Ethereum inscription method called “BlobScriptions” is causing a massive spike in blob fees. https://t.co/JAWU357hWq
ETHEREUM BLOB INSCRIPTIONS HIT RECORD HIGH - Ethereum $ETH blobs, akin to Bitcoin's Ordinals, are being used for inscriptions at a record rate, reaching 2,437 inscriptions on March 27 alone, comprising 22.8% of the total blobs posted for the day. - This surge in blob… https://t.co/zg5JeuuTYr https://t.co/W4c0PBHoo9
JUST IN: ETHEREUM BLOBS ARE BEING USED TO CREATE "ORDINALS-LIKE" INSCRIPTIONS
Ethereum blobs are now being used to create inscriptions like on Bitcoin https://t.co/tIGINC8vde
blob inscriptions have triggered the blob market 🙃 https://t.co/2iQV9mraFT
Inscriptions have made their way into blobs 🫠 src: https://t.co/zt1nL4k1Aw https://t.co/LMT4r6xwPd
🚨 Heads up: the Blob Base Fee is currently rising exponentially. We are investigating potential causes. You can monitor on https://t.co/gx1YVx67dy. Click through to see underlying Type 3 transactions. https://t.co/kkJJK46sog https://t.co/tKmUFxDrin
Inscriptions are a new filter on @mempool. Looks like Ordinals are going strong on Bitcoin! 🔥 (Here's a recent Bitcoin block, and all the highlighted squares are transactions for creating inscriptions.) https://t.co/FLtXZB1lLI
Blobs #Ethereum https://t.co/JGWwDciUTA
Blobs, blobs, more blobs! #Ethereum https://t.co/fuSM31K5ST