Tazmina Rashid
Research Analyst
Last Updated:
November 7, 2025
•
5 Minutes
DeFi Analytics 7th November 2025
This week's edition of our Crypto DeFi Analytics.
Chain Fee Generation
Daily Fee Generation – Network fees generated on Ethereum spiked to nearly 2.9M on Nov 4th and have remained elevated since as on-chain activity increases. In contrast, Solana and Tron’s daily fees held steady this week.
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 – This week blob gas remained rangebound, but showed a mid week-drawdown reflecting decreased usage of Layer 2 chains. This is reflected in the hourly average excess blob gas fees which remains minimal.
Hourly Average Blob Gas Usage per Ethereum Block
Hourly Average Excess Blob Gas per Ethereum Block
Beacon Chain Balance
Beacon Chain - ETH staked on the Beacon Chain continues to fluctuate but has remained above 36M since July 2025.
Beacon Chain Summary
.png){kind=tracking}
Beacon Chain Balance
.png){kind=tracking}
Daily Change in Validator State
Beacon Chain Validator States
Uniswap V3
Uniswap V3 Hourly Volumes - Arbitrum
Uniswap V3 Hourly Transaction Count - Arbitrum
Liquidations
Aggregate Liquidations across Aave & Compound
Liquidations across Aave & Compound – Liquidations peaked this week as BTC spot continued to tumble and ultimately fell below $100k, the first time since June 2025.
Free
PREMIUM
Institutional
DeFi Analytics 7th November 2025
This week's edition of our Crypto DeFi Analytics.
Free
PREMIUM
Institutional
“Inflation is the more pressing concern”
As BTC trades just above 100K, demand in various segments of the market is slowing down. Spot Bitcoin ETFs have seen outflows of $2.2B since the Oct 10 liquidation event, perpetual futures open interest on Bybit contracts remains subdued and there's a growing sign of DATs beginning to sell their crypto holdings. Positioning in options markets remains bearish with elevated volatility levels and continued demand for short-term protection. US equities also dipped lower amidst a weaker-than-expected private jobs report from outplacement firm Challenger Gray & Christmas.
Free
PREMIUM
Institutional
The Supreme Court and Tariffs
After Tuesday’s selloff in risky assets, both crypto prices and US equities had a modest rebound yesterday, with Bitcoin rising to as much as $104K. That return back to risk was driven by a number of macro data releases suggesting the US economy is still solid and comments from President Trump that the US stock market has "hit many record highs during the last nine months, many. And, it will again.” ISM data showed the Services Index rose to its highest in eight months, while ADP jobs data showed an increase in private-sector payrolls by 42,000 in October, exceeding the median expectation of 30,000. Separately, Ripple has raised $500M in a strategic funding round valuing the company at $40B.