Ethereum's Fusaka Upgrade: Usage Drop Suggests Capacity Mismatch
Following Ethereum's Fusaka upgrade on December 3, 2025, an analysis by MigaLabs reveals a discrepancy between the network's data availability capacity and actual utilization. The upgrade aimed to reduce layer-2 rollup costs by increasing throughput for blob data via Blob Parameter Overrides, expanding blob targets and maximums. Despite adjustments raising the target from 6 blobs per block to 14, median blob usage declined after the initial parameter adjustment. Blocks with 16 or more blobs showed elevated miss rates, indicating reliability issues. The analysis suggests halting further blob parameter increases until high-blob miss rates normalize and demand increases. The upgrade timeline shows blob parameter increases from 6/9 to 10/15, then 14/21 across December 2025 and January 2026.
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