EIP-4844 introduces “blobs”, which help store transaction data separately and temporarily, reducing fees for block data on layer 2 Ethereum. Dencun also introduces proto-danksharding, providing more efficient data delivery to the space. block space on the Ethereum mainnet. This reduced transaction costs on layer 2 networks like Arbitrum and Optimism, but the number of ETH burned on the main network was reduced.
Despite the ETH supply turning to inflation recently, the total ETH supply is still decreasing since the Consolidation. More than 1.5 million ETH have been burned since September 2022, while 1.36 million ETH were added, resulting in a total supply decrease of 345,000 ETH, equivalent to more than $1.1 billion at current prices.
