Tazmina Rashid
Research Analyst
Last Updated:
December 6, 2024
•
4 mins
DeFi Analytics 6th December 2024
This week's edition of our Crypto DeFi Analytics. We highlight Ethereum's surging network activity: burnt gas fees neared 2 ETH per block alongside transfer costs peaking at $10 amid a growing ETH spot price. Excess blob gas remained elevated, exceeding 70M- a factor of consideration for Layer 2s. An insight into DeFi activity is marked by Uniswap V3 transaction volume on Arbitrum and liquidation activities across Aave and Compound.
Ethereum Gas Market
ETH Gas Fees - Gas fees burnt per block spiked this week, nearing 2 ETH. Alongside this, cost to transfer ETH reached $10 as network demand drove up transaction costs. This comes as ETH’s spot price has steadily risen over the week.
Hourly Average Gas Fees Burnt per Block
Hourly Average Cost to Transfer ETH (21,000 Gas)
ETH Blob Gas - Elevated excess blob gas activity trailing above 70m has become the new normal and average blob gas usage continues to fluctuate at 400k. Layer 2's can attempt to avoid peak surcharges by uploading data to the ETH network in times of drawdown.
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 Hourly Transaction Count - Arbitrum
Liquidations
Aggregate Liquidations across Aave & Compound
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