Tazmina Rashid
Research Analyst
Last Updated:
January 3, 2025
•
4 mins
DeFi Analytics 3rd January 2025
This week's edition of our Crypto DeFi Analytics. Ethereum gas fees spiked to $5 as demand rebounded post-holidays. Excess blob gas dipped slightly but recovered to 55M as Layer 2 activity resumed. Uniswap V3 also saw a holiday trading slowdown, now stabilising.
Ethereum Gas Market
ETH Gas Fees - Following a week of calm, spikes in gas fees have reappeared this week as demand for block space picks up after the holiday season. Alongside, hourly average cost to transfer ETH (21,000 Gas) spikes up to $5 despite overall rangebound movement in ETH spot.
Hourly Average Gas Fees Burnt per Block
Hourly Average Cost to Transfer ETH (21,000 Gas)
ETH Blob Gas - Showing minimal change, Blob gas usage has dropped slightly from 400k. However, hourly average excess blob gas per Ethereum block shows a notable drawdown around new years day as Layer 2s upload less data to the ETH network. With a resurgence in excess blob gas to 55M, it will be worth watching the 2025 development.
Hourly Average Blob Gas Usage per Ethereum Block
Hourly Average Excess Blob Gas per Ethereum Block
Uniswap V3
Uniswap V3 Hourly Volumes - Arbitrum
Uniswap V3 - Similar to blob gas usage, Uniswap V3 hourly transaction count also experienced a downturn in volume over the new years as users took a break from trading.
Uniswap V3 Hourly Transaction Count - Arbitrum
Liquidations
Aggregate Liquidations across Aave & Compound
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