The Ethereum L2 network Scroll has enabled the blob feature, significantly reducing transaction fees

The Ethereum L2 network, Scroll, activated blob on Monday, a key feature of the recent Ethereum Dencun upgrade. Scroll is one of the last major Ethereum L2s to support blob. In the hours before the upgrade, the median transaction fee on the Scroll network was about $0.62 and now it's around $0.15. Since launching Session Zero on April 17th, the total value of encrypted assets on-chain in Scroll has increased by $36 million to reach $195 million, with stablecoins growing by approximately $3 million. However, active addresses have dropped by about 4%, and daily trading volume has decreased by about 10%. But this could change with lower transaction fees brought about by blob.