Ahmad Mustafa Kida
Data Analyst
Last Updated:
April 19, 2024
•
4 mins
DeFi Analytics 11th Apr 24
This week's edition of our DeFi Analytics report.
Beacon Chain
Cumulative Beacon Chain Deposits
Beacon Chain Deposits and Withdrawals
Ethereum Gas Market
Ethereum Gas fees burnt from the total supply
- Network activity Ethereuem layer 1 has remained subdued since the 14 of March
- The longer this trend persists, the more we can attribute this subdued activity to the Dencun upgrade which the largest Layer 2 protocols are fully utilizing
Average cost to transfer ETH (21,000 Gas)
Ethereum Blob Gas Used
- Blobspace utilisation on the Ethereum network has decreased significantly since last week
- This decrease can be explained by the reduced utilisation of blobs by the BlobScription protocol as demand for minting new BlobScriptions has now subsided
Excess Blob Gas
Borrowing and Lending
Liquidity-weighted average lending yields across Aave & Compound
- Lending markets continue to exhibit their weeks-long period of subdued activity
- Apart from the occasional spikes, yields offered by stablecoins continue to trade rangebound between 5% and 15% on an annualised basis
- Stablecoin TVL’s across both Aave and Compound have since little change in the last 2 weeks
Total Stablecoin value locked in Aave and Compound
USDC TVL
USDT TVL
DAI TVL
TUSD TVL
WBTC TVL
WETH TVL
Uniswap V3
Uniswap V3 Hourly Volumes
Uniswap V3 Hourly Transaction Count
Liquidations
Aggregate Liquidations across Aave & Compound
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The Renaissance of Onchain Options
Options onchain have taken various forms over time, representing an underrepresented niche within crypto primitives. Nonetheless, this is changing, with a new wave of protocols that improve on their predecessors, abstracting the complexity of options and emphasising their value proposition rather than primarily on user education, and meeting real demand as onchain yields compress.In this report, we cover and compare different venues that offer exposure to crypto asset options, compare thecam with traditional platforms, and highlight how Prediction Markets essentially replicate traditional binary options.With this, we also expand the research to map the volatility of the major assets, BTC and ETH, and their correlation with prediction market odds.
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H1 2026 In Review
The first half of 2026 was characterized by cross-asset volatility from cryptocurrencies to US equities and precious metals. Of the three asset classes however, crypto prices have fared the worst, with BTC down 50% from its October 2025 all-time high and ETH down more than 66% from its respective August 2025 high. Each successive leg lower in crypto-asset prices through the year was driven by a different factor — some were idiosyncratic to digital assets, and others a consequence of a deteriorating macro backdrop.
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From Aggregation to Execution: The Next Layer of Onchain Trading Infrastructure
This report evaluates Bitget Wallet's DEX aggregator and Enterprise API against three other leading aggregators (KyberSwap, 0x, and Jupiter) using thousands of live quote comparisons pulled simultaneously across trade sizes from under $1,000 to $100,000, on BTC, ETH, SOL, and stablecoin pairs. We assess execution quality across three dimensions: price competitiveness (which aggregator returns the best swap price), slippage control (how much that price degrades with trade size), and fill reliability (how often an executable quote is returned).