On October 6, COINOTAG reported that following the recent Dencun upgrade, there has been a significant **surge** in Layer 2 (L2) transactions on the Ethereum network. According to data from **IntoTheBlock**, this has resulted in Ethereum mainnet fees reaching a **historical low**. The implementation of **EIP-4844** has effectively reduced L2 costs by a staggering **10 times**, facilitating a record volume of transactions. However, this positive development has coincided with a notable shift in **Ethereum’s monetary policy**; the decrease in ETH destruction rates has shifted the asset from a state of **deflation** to **inflation**. This transition may have substantial implications for **investors** and the broader ecosystem as it adjusts to changing **economic conditions** within the blockchain space. Source: https://en.coinotag.com/breakingnews/ethereum-fees-hit-record-low-post-dencun-upgrade-as-l2-transactions-surge-eth-transitions-from-deflation-to-inflation/