DeFi Analytics 14th February 2025

Chain Fee Generation

Daily Fees Generated across Ethereum & Solana - The divergence in fee generation remains strong, with Solana continuing to generate more fees than Ethereum. Ethereum's fee generation has dropped to its lowest levels this month, averaging $1.2 million—less than half of the approximate $3 million recorded during the same period last month. Solana's fees have also declined this month, yet they remain within a comparable range to previous data points. Despite the decrease, Solana continues to outperform Ethereum in daily gas fee generation.

Daily Fees Generated across Ethereum & Solana

Ethereum Gas Market

ETH Gas Fees - Hourly average gas fees burned per block are also at their lowest levels this month, approximately 0.1 ETH and similarly, the cost to transfer ETH (21,000 Gas) is negligible at approximately $0.10.

Hourly Average Gas Fees Burnt per Block

Hourly Average Cost to Transfer ETH (21,000 Gas)

ETH Blob Gas - Blob gas usage remains stable, hovering around the 400k range. A larger drawdown can be noted in the hourly average excess blob gas per Ethereum block on Feb 9th as Layer-2's require less blob gas for Ethereum data uploads.

‍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 volumes on Ethereum based DEX, Uniswap V3 remained muted, averaging at $500M. Similarly, hourly transaction remains constant hovering between the 4k-6k mark.

Uniswap V3 Hourly Transaction Count  - Arbitrum

Liquidations

Aggregate Liquidations across Aave & Compound - Good news for the traders with negligible liquidations this week. This aligns with the crypto market’s spot prices overall moving sideways.