The Ethereum ecosystem continues to evolve, and the recent Cancun upgrade has sparked widespread interest across the blockchain community. With a major focus on scalability and efficiency, this upgrade—centered around EIP-4844—has brought transformative changes to Layer2 (L2) networks, particularly in how they handle data and manage transaction costs. For investors and users alike, one pressing question remains: Has the upgrade truly reduced gas fees? And what does it mean for key L2 tokens like ARB, OP, and STRK?
This article dives deep into the technical impact of the Cancun upgrade, analyzes real-world gas fee reductions across leading L2s, and explores the price dynamics of top Layer2 cryptocurrencies. Whether you're a developer, trader, or long-term crypto enthusiast, understanding these shifts is essential for navigating the next phase of Ethereum’s evolution.
What Is the Cancun Upgrade and EIP-4844?
At the heart of the Cancun upgrade lies EIP-4844, also known as "proto-danksharding." This improvement introduces a new type of transaction called a blob-carrying transaction, designed specifically to make Layer2 rollups more efficient.
Currently, rollups publish their transaction data on Ethereum’s mainnet using calldata, which is secure but expensive. Calldata storage historically accounted for over 90% of L2 transaction costs, making even simple operations costly during network congestion.
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EIP-4844 solves this by introducing blobs—temporary data containers that store rollup transaction batches off the main execution chain. These blobs are larger in size, cheaper to store, and automatically expire after approximately 18 days. While still secured by Ethereum consensus, they significantly reduce the data burden on Layer1.
This change doesn’t directly slash gas fees on Ethereum’s mainnet. Instead, it dramatically lowers data availability costs for L2 networks, paving the way for faster, cheaper transactions across platforms like Arbitrum, Optimism, and zkSync.
Did Gas Fees Actually Drop After the Upgrade?
Yes—and the numbers speak for themselves. Following the activation of EIP-4844, multiple Layer2 networks implemented blob usage almost immediately. Here's a real-world comparison of gas fees before and after the upgrade:
- zkSync Era: Sending ETH dropped from $0.15 to $0.04
- StarkNet: Transaction cost fell from $0.71 to $0.07
- Optimism: Fees plunged from $0.36 to under $0.01
These figures highlight a clear trend: Layer2 transaction costs have been reduced by up to 90% in some cases. Users can now interact with decentralized applications (dApps), swap tokens, and bridge assets at a fraction of previous expenses.
It’s important to note that Ethereum mainnet gas fees saw only minor reductions because EIP-4844 targets L2 efficiency—not primary chain throughput. The real winners are users of rollup-based scaling solutions, who now enjoy near-instant transactions with minimal cost.
As more dApps migrate to optimized L2 environments, we’re likely to see increased user adoption, especially among retail traders and new entrants deterred by high fees in past bull markets.
How Major Layer2 Networks Responded
Following the upgrade, major L2 chains moved quickly to integrate blob support:
- Optimism: Successfully deployed EIP-4844 and rebranded its tech stack under the "OP Stack" vision.
- Arbitrum One: Implemented changes shortly after March 14, unlocking lower-cost data publishing.
- StarkNet: Leveraged its ZK-based architecture to maximize blob efficiency.
- zkSync: Already optimized for zero-knowledge proofs, further enhanced cost savings.
- Base (by Coinbase): Rolled out blob support post-upgrade, aiming to attract Web3 developers.
This coordinated shift signals strong confidence in Ethereum’s long-term scalability roadmap. With danksharding laying the foundation today, future upgrades could enable Ethereum to process tens of thousands of transactions per second—making mass adoption increasingly viable.
ARB, OP, STRK: Price Outlook Post-Cancun
With improved infrastructure comes renewed investor interest in native Layer2 tokens. Let’s examine how Arbitrum (ARB), Optimism (OP), and StarkNet (STRK) have reacted post-upgrade.
Arbitrum (ARB)
As one of the largest L2s by total value locked (TVL), Arbitrum stands to benefit significantly from reduced operational costs. Lower fees make its ecosystem more attractive to DeFi protocols and NFT marketplaces.
Post-upgrade, ARB experienced moderate volatility but maintained solid trading volume. Analysts suggest that if dApp activity surges on Arbitrum due to cheaper transactions, demand for ARB—used for governance and staking—could rise in mid-to-long term.
Optimism (OP)
Optimism has taken a proactive approach with its Superchain initiative, aiming to create an interconnected network of OP Stack chains. The success of EIP-4844 validates OP’s rollup-centric design philosophy.
OP saw a noticeable price bump following the upgrade, fueled by positive sentiment and growing developer engagement. Its tokenomics model, including revenue-sharing via the OP Stack, positions it well for future growth.
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StarkNet (STRK)
StarkNet, built on STARK zero-knowledge proofs, offers high security and scalability. While STRK is relatively newer compared to ARB and OP, its post-upgrade performance reflects growing institutional interest.
Due to its complex tech stack, user adoption has been slower—but developers appreciate its robustness. As ZK-based solutions gain traction in privacy-preserving applications, STRK may emerge as a dark horse in the L2 race.
Frequently Asked Questions (FAQ)
Q: Does the Cancun upgrade reduce gas fees on Ethereum mainnet?
A: Not significantly. The primary goal of EIP-4844 is to lower data storage costs for Layer2 rollups, not mainnet transactions. Mainnet gas fees remain subject to demand and network congestion.
Q: Are blob transactions less secure than regular calldata?
A: No. Blobs are fully validated by Ethereum consensus and remain available for ~18 days before expiry. Security isn't compromised—only cost and efficiency are improved.
Q: Will all L2s benefit equally from EIP-4844?
A: Most rollups benefit, but the degree varies. Rollups publishing large volumes of data (like Optimism and Arbitrum) see the biggest savings. Networks already using efficient compression or ZK-proofs may see incremental gains.
Q: Can I save money by moving my DeFi activities to L2s now?
A: Absolutely. With transaction costs dropping below $0.01 on networks like Optimism, shifting swaps, staking, or liquidity provision to L2s can drastically cut expenses—especially during peak usage times.
Q: Is this the final step in Ethereum scaling?
A: No—EIP-4844 is just the beginning. It's called proto-danksharding because it sets the stage for full danksharding, expected in future upgrades. That will enable even greater throughput through distributed data sampling and proposer-builder separation.
Final Thoughts: A New Era for Ethereum Scaling
The Cancun upgrade marks a pivotal moment in Ethereum’s journey toward mass adoption. By addressing the biggest pain point for L2 users—high data costs—it unlocks a new tier of affordability and accessibility.
For everyday users, this means cheaper trades and smoother dApp interactions. For developers, it opens doors to building richer, more complex applications without worrying about exorbitant publishing fees. And for investors, tokens like ARB, OP, and STRK represent exposure to ecosystems poised for growth as usage expands.
While market prices will always fluctuate based on sentiment and macro trends, the fundamental improvements from EIP-4844 are undeniable. As Layer2 networks continue refining their offerings, expect increased competition, innovation, and user migration from Layer1.
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The future of Ethereum isn’t just scalable—it’s already here.