The Fusaka (Fulu + Osaka) upgrade is here with a host of new EIPs, aiding @ethereum's progress toward better scalability. We've built the "Ethereum: Fusaka Upgrade" dashboard on @Dune to track how these EIPs are affecting network activity in real-time. Let's dive in 🧵👇

1/ EIP-7825 introduced a 16.78M gas limit cap for transactions. Early data reveals: 🔹 Gas utilization (gas used / gas limit) spiked immediately post-upgrade but has since returned to baseline levels. 🔹 Transactions hitting the gas limit similarly surged initially, though the share of gas consumed by high-gas transactions (>10M) stabilized back to previous ranges. Beyond the initial disruption, network activity has reverted to its established cyclical pattern, alternating between hours of high utilization and periods of reduced activity.

2/ EIP-7918 bounded the blob base fee by execution costs, establishing a minimum price floor to keep fees responsive to actual network demand. Following a brief initial surcharge, the blob gas price has stabilized at levels substantially higher than the previous 1 wei minimum. However, blob costs per block remain significantly below late 2024/early 2025 peaks, currently just a fraction of a cent, suggesting the mechanism has introduced price discipline without recreating previous cost pressures.

3/ EIP-7935 raised the default block gas limit from 45M to 60M, coordinating clients around a higher baseline. This pairs strategically with the transaction cap to prevent individual transactions from monopolizing block space. As a result, Ethereum is scaling its throughput capacity while transaction fees continue their downward trend, expanding accessibility without compromising network economics.

4/ EIP-7892 introduces Blob Parameter Only (BPO) forks to incrementally scale Ethereum's blob capacity. 🔹BPO1 (Dec 9) will raise the per-block blob target to 10 and maximum to 15. 🔹BPO2 (Jan 7) will further increase these to 14 and 21, respectively. Blobs are currently utilizing nearly all available target capacity. If historical patterns hold, utilization rates should drop following these increases, as they did post-Pectra when capacity was similarly expanded.