Tazmina Rashid
Research Analyst
Last Updated:
December 19, 2025
•
5 Minutes
DeFi Analytics 19th December 2025
This week's edition of our Crypto DeFi Analytics.
Chain Fee Generation
Daily Fee Generation – Since Dec 14, 2025, Tron’s fees have remained ahead of other chains, peaking above $1.2M this week before easing back towards ~$1.0M as of today. Solana’s fees have been broadly steady around ~$0.5–0.6M, while Ethereum’s fees have rebounded from roughly ~$0.27M towards ~$0.45–0.5M.
Daily Fees Generated across Ethereum, Solana, Tron & Sui
Ethereum Gas Market
Hourly Average Gas Fees Burnt per Block
Hourly Average Cost to Transfer ETH (21,000 Gas)
Blob Gas Usage – Since 14 December, blob gas usage has been broadly range-bound around ~0.55–0.7M, spiking above ~0.8M yesterday before jumping again towards ~0.9M as of today.
Hourly Average Blob Gas Usage per Ethereum Block
Hourly Average Excess Blob Gas per Ethereum Block
Beacon Chain Balance
Beacon Chain - There was a brief spike in withdrawals this week, but levels have been steady, with no major spikes since.
Beacon Chain Summary
Beacon Chain Balance
Uniswap V3
Uniswap V3 Hourly Volumes - Arbitrum
Uniswap V3 Hourly Transaction Count - Arbitrum
Liquidations
Aggregate Liquidations across Aave & Compound
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DeFi Analytics 19th December 2025
This week's edition of our Crypto DeFi Analytics.
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Softer Inflation Pushed Bitcoin
A cooler-than-expected US inflation print helped arrest a four-day slide in the S&P 500 and briefly pushed BTC above $89K, although the release was clouded by missing month-on-month data and methodological “carry-forward” imputation during the shutdown. Risk assets still rallied, with equities holding gains on the day alongside a further boost from strong Micron results, while BTC retraced sharply to $84.5K before rebounding back above $88K. In rates, the Bank of Japan hiked to 0.75%—its highest policy rate since 1995—sending 10-year JGB yields above 2%. On the policy front, Washington signalled accelerating crypto oversight: Michael Selig advanced to lead the CFTC, Senate leaders confirmed a January markup for the Clarity Act, while Bybit returned to the UK via Archax and Bitwise filed to launch a spot SUI ETF.
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Coinbase Rolling Out Tokenized Stock Trading
Bitcoin returned to $86,600 early Thursday after briefly spiking near $90,000 at the US market open, while ETH weakened from the $3,000 area to around $2,800. BTC is consolidating in the $85–90k area following the pullback and our BTC RAI has stabilised and started to edge higher; ETH has broadly held around the $3.0–3.3k area recently and the ETH RAI has also improved modestly from recent lows. XRP spot ETFs have seen a continuous run of net positive daily inflows since launch (total net inflow $1.03B), with XRP up +0.78% to around $1.87. Market expectations remain towards the Fed holding rates next month (FedWatch 73.4% / Polymarket 76%), while the BoE is expected to cut 25bp this afternoon and the ECB to hold, alongside headlines including the Fed withdrawing its 2023 “novel activities” policy, Coinbase’s planned rollout of tokenised stocks and prediction markets, and Hut 8’s 15-year $7.0B River Bend lease with Fluidstack backed by Google.