Source: Bitwise Asset Management with data from Token Terminal.

A lot of people think the approval of a spot bitcoin ETF (assuming it happens) will be the biggest development in crypto in 2024.

Another candidate is “EIP-4844,” the technical name for a pending upgrade of the Ethereum blockchain.

The primary goal of EIP-4844 is to help reduce the average transaction cost on Ethereum.

Right now, the average fee per transaction on low-cost Layer 2 blockchains is ~$0.14. This upgrade could push that below $0.01.

A 90%+ reduction in the cost to use Ethereum will radically increase the types of activities individuals can feasibly participate in on the network. All of a sudden, major product ideas like micropayments, social media, and large-scale gaming would become possible.

We think EIP-4844 will pave the way for the first truly mainstream applications in crypto.

That’s a big deal.

Average Fee Per Transaction on Ethereum and Ethereum Layer 2 Blockchains #Memecoins #earntowrite #SHIB #sui $BTC please tip me😭