Tazmina Rashid
Research Analyst
Last Updated:
November 30, 2024
•
2 mins
DeFi Analytics - Nov 30, 2024
Blob gas usage is still incredibly strong as Layer 2 activity remains high. The spot price volatility may also have seen some stakers unlock their tokens and take profits, as we observe a drop in the amount of ETH staked on the Beacon Chain.
Beacon Chain
Cumulative Beacon Chain Deposits
Beacon Chain Deposits and Withdrawals
Ethereum Gas Market
ETH Gas Fees - The hourly average gas fees burnt per a block has stabilised this week averaging around 0.3ETH, this corresponds to a cost of approximately $1.5.
Hourly Average Cost to Transfer ETH (21,000 Gas)
Ethereum Blob Gas Market
ETH Blob Gas - Average blob gas usage continues to fluctuate around 400k and excess blob gas spikes once again surpassing the 80M mark. With the increased prices associated with elevated blob activity, a new question is posed of will new Layer 2 developers choose to build on potentially cheaper chains?
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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Crypto Markets Daily Dec 3 2024
We said it would be a big week for macro and, two days in, things are certainly playing out that way. French 10Y OATs are around 2012 eurozone crisis levels. Fed speeches have pushed implied-odds for a December rate cut higher. Altcoins continue to rally, as total stablecoin supply reaches new highs. In derivatives, BTC skew is leaning towards short-tenor puts, whilst ETH skew indicates traders having a continued appetite for upside exposure to calls.
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Crypto Markets Daily Dec 2 2024
This week attention turns to the Fed ahead of their Dec 18, 2024 meeting. JOLTS on Tuesday, NFP on Friday, and a slew of Fed speakers are expected to shed light on the health of the U.S. labour market after last-months non-report. Ripple is the latest altcoin to enjoy a rally above and beyond majors, overtaking stablecoins and Solana to become the third largest cryptocurrency by market cap. However, Bitcoin dominance remains above 55%.
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DeFi Analytics - Nov 30, 2024
Blob gas usage is still incredibly strong as Layer 2 activity remains high. The spot price volatility may also have seen some stakers unlock their tokens and take profits, as we observe a drop in the amount of ETH staked on the Beacon Chain.