The daily GAS fee consumption on the Ethereum EVM chain has surged to 8.3 million US dollars, setting a new historical high

According to Cointelegraph, over the weekend, the number of inscriptions on Ethereum's EVM chain surged, leading to a spike in its GAS consumption. According to data from Dune Analytics, on December 16th, the Gas cost for inscriptions soared to $8.3 million USD, setting a new historical high. The Avalanche network consumed the most Gas and spent over $5.6 million USD just that day alone. Aribitrum One ranked second with inscription-related Gas costs reaching $2.1 million USD. In the past 24 hours, 58% of Avalanche's network gas was spent on EVM inscriptions while zkSync Era had 48% of its fees spent on EVM inscriptions as well. Additionally, BNB Chain saw that 73% of transactions in the past 24 hours were related to inscriptions.

This situation is so severe on Arbitrum One network that it caused an interruption lasting for 78 minutes on December 15th.

Meanwhile, Bitcoin's network also saw a surge in inscriptions over the weekend which increased block space demand and transaction fees accordingly.
According to mempool.space data currently there are nearly two hundred eighty thousand unconfirmed transactions.
Observers say this has led Bitcoin transaction fees soaring up to $37 making it impossible for most people using bitcoin networks as peer-to-peer digital currency.
On December18th NFT and Ordinals expert "Leonidas" noticed that within last twenty-four hours sales volume from one single inscription series (which project wasn't specified) surpassed total sales volume combined by CryptoPunks,BAYC,MAYC,Pudgy Penguins,Azuki ,DeGods,Moonbirds,Doodles,and Meebits.He pointed out,"Bitcoin Frogs" series topped list among Ordinal PFP series with market value at one hundred eighty-two million dollars .