DeFi Analytics 28th February 2025

Chain Fee Generation

Daily Fees Generated across Ethereum & Solana - Daily fees for both Ethereum and Solana continue to trend down, now both at their lowest for the month. Solana generated only $1.08M, compared to Ethereum’s low of $622k on Feb 27.

On Feb 25, Ethereum slightly outperformed Solana, generating $2M compared to $1.4M respectively. However, Solana maintains its overall lead in fee generation.

Daily Fees Generated across Ethereum & Solana

Ethereum Gas Market

ETH Gas Fees - Hourly average gas fees burned per block remains minimal, however show a slight uptick at the end of the week at 0.2ETH. Similarly, the cost to transfer ETH (21,000 Gas) shows the same picture, trending at approximately $0.50.

Hourly Average Gas Fees Burnt per Block

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

ETH Blob Gas - Blob gas usage remains consistent, despite a rocky week in the crypto spot market. Hourly average excess blob gas per Ethereum block also remains relatively unchanged reinforcing the consistent demand from Layer-2's for 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 increased this week, spiking at approximately $270M. However, these figures have dropped off as the week ends. Hourly transaction count on Arbitrum also spiked, reaching its highest level for the month at nearly 10k.

Uniswap V3 Hourly Transaction Count  - Arbitrum

Liquidations

Aggregate Liquidations across Aave & Compound - Liquidations are surprisingly low given the overall drop in crypto spot this week. Across both Aave and Compound, they remain low totalling approximately $2M.