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Last Updated:  
February 20, 2026
7 Minutes

DeFi Analytics 20th February 2026

This week's edition of our Crypto DeFi Analytics.

Chain Fee Generation

Daily Fee Generation – Over the past week, Ethereum's fees were muted and held well below $1.0M, largely ranging around ~$0.25–0.40M with no renewed spike. Tron's fees remained the steadiest major chain, holding broadly around ~$0.9–1.1M throughout the week. Solana's was range-bound in the ~$0.6–0.8M area, with a brief spike towards ~$0.9–0.95M before decreasing back.

Daily Fees Generated across Ethereum, Solana, Tron & Sui

Stablecoin Supply

Stablecoin Supply by Token

Stablecoin Supply by Chain

Ethereum Gas Market

Hourly Average Gas Fees Burnt per Block

Hourly Average Cost to Transfer ETH (21,000 Gas)

Blob Gas Usage – Over the past week, blob gas usage was mostly steady around 0.55M–0.70M. Towards the end of the week, however, activity surged sharply towards ~1.2M before easing back into the prior range, and it has since fallen further, now dropping towards 0.4M.

Hourly Average Blob Gas Usage per Ethereum Block

Hourly Average Excess Blob Gas per Ethereum Block

Beacon Chain Balance

Beacon Chain - The Beacon Chain’s balance has continued to climb, now increasing above 37M ETH towards 37.4M.

This comes as Arkham data shows the Eth2 Beacon Deposit Contract as the largest holder at ~77.1M ETH, with more than 60% of supply, and Bitmine holding 4.29M ETH, with 2.9M staked.

BlackRock has taken a significant step toward launching a yield-generating Ethereum fund in the US, according to the S-1 registration statement filed on Tuesday. The iShares Staked Ethereum Trust, expected to trade as ETHB, was seeded with $100,000 and plans to stake the majority of its ether, typically 70% to 95%, with an estimated average staking yield of around 3% based on early 2026 benchmarks, not guaranteed.

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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Chain Fee Generation

Daily Fee Generation – Over the past week, Ethereum's fees were muted and held well below $1.0M, largely ranging around ~$0.25–0.40M with no renewed spike. Tron's fees remained the steadiest major chain, holding broadly around ~$0.9–1.1M throughout the week. Solana's was range-bound in the ~$0.6–0.8M area, with a brief spike towards ~$0.9–0.95M before decreasing back.

Daily Fees Generated across Ethereum, Solana, Tron & Sui

Stablecoin Supply

Stablecoin Supply by Token

Stablecoin Supply by Chain

Chain Fee Generation

Daily Fee Generation – Over the past week, Ethereum's fees were muted and held well below $1.0M, largely ranging around ~$0.25–0.40M with no renewed spike. Tron's fees remained the steadiest major chain, holding broadly around ~$0.9–1.1M throughout the week. Solana's was range-bound in the ~$0.6–0.8M area, with a brief spike towards ~$0.9–0.95M before decreasing back.

Daily Fees Generated across Ethereum, Solana, Tron & Sui

Stablecoin Supply

Stablecoin Supply by Token

Stablecoin Supply by Chain