DeFi Analytics 25th September 2026

Chain Fee Generation

Daily Fees Generated by Chain

Figure 1. Daily fees generated on each chain, USD. Source: Artemis, Block Scholes.

Stablecoins

Stablecoin Supply by Chain

Figure 2. Stablecoin supply on Ethereum, Tron, Solana and BNB Chain, USD. Source: Artemis, Block Scholes.

Stablecoin Volume by Chain

Figure 3. Stablecoin transaction volume by chain, USD. Source: Artemis, Block Scholes.

Real World Assets

RWA Perpetual Volume

Figure 4. Weekly trading volume in real-world-asset perpetual futures, USD. Source: Artemis, Block Scholes.

RWA Open Interest

Figure 5. Open interest in real-world-asset perpetual futures by venue, USD. Source: Artemis, Block Scholes.

Real World Assets - Monthly RWA perp volume reached $117.3B in August, 44 times its level a year earlier, although weekly volume has eased since peaking at around $44B in a single week this summer. Onchain venues now process 86% of that volume, up from a third or less through November 2025. The shift followed Hyperliquid's HIP-3 upgrade in October 2025, which lets builders deploy their own perp markets. Open interest has grown nearly 30-fold since July 2025 to $4.8B, with the HIP-3 venue trade.xyz holding the largest share. Equities have overtaken commodities as the most traded asset class, at 48% of August volume against 28%, a year after commodities made up 84%.

Ethereum Gas Market

Hourly Average Gas Fees Burnt per Block

Figure 6. Hourly average gas fees burnt per Ethereum block. Source: Dune, Block Scholes.

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

Figure 7. Hourly average cost of a standard ETH transfer (21,000 gas), USD. Source: Dune, Block Scholes.

Hourly Average Blob Gas Usage per Ethereum Block (Target: 6 Blobs)

Figure 8. Hourly average blob gas used per Ethereum block against the six-blob target. Source: Dune, Block Scholes.

Hourly Average Excess Blob Gas per Ethereum Block

Figure 9. Hourly average excess blob gas per Ethereum block. Source: Dune, Block Scholes.

Beacon Chain

Beacon Chain Summary

Figure 10. Beacon Chain balance in ETH (left-hand axis) with daily deposits, partial and full withdrawals (right-hand axis). Source: Dune, Block Scholes.

Beacon Chain Balance

Figure 11. Total ETH staked on the Beacon Chain. Source: Dune, Block Scholes.

Uniswap V3

Uniswap V3 Hourly Volumes - Arbitrum

Figure 12. Hourly Uniswap V3 trading volume on Arbitrum, USD. Source: Dune, Block Scholes.

Uniswap V3 Hourly Transaction Count - Arbitrum

Figure 13. Hourly Uniswap V3 transaction count on Arbitrum. Source: Dune, Block Scholes.

Liquidations

Liquidations across Aave & Compound

Figure 14. Daily liquidation amounts on Aave (orange) and Compound (green) with the BTC spot price (yellow, right-hand axis). Source: Dune, Block Scholes.

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