Gnosis Chain has preemptively activated blob transactions in anticipation of Ethereum's imminent Dencun upgrade.

The Dencun upgrade, including EIP-4844, is designed to significantly lower gas fees and enhance data storage for Layer 2 networks.

Reduced congestion and the new blobs system aim to facilitate key features and make transactions on networks like Arbitrum, Polygon, and Coinbase’s Base more cost-effective.

The upgrade is projected to lower operational costs for Layer 2 chains, potentially empowering small teams to develop and sustain Layer 2 projects.

Although initial costs for blobs are lower, there is a possibility of price increases as demand for this storage method rises.

The Dencun upgrade could positively affect ETH's price by making Layer 2 solutions more attractive, thereby drawing additional users and developers to the platform.

Exchanges might face delays during the implementation of the upgrade, and ETH's price has recently seen a correction, dropping by over 3% in the last 24 hours.