Tazmina Rashid
Research Analyst
Last Updated:
June 13, 2025
•
5 Minutes
DeFi Analytics 13th June 2025
This week's edition of our Crypto DeFi Analytics. The Beacon Chain balance has surged and liquidations stayed minimal, indicating more cautious investor behaviour.
Chain Fee Generation
Daily Fees Generated across Ethereum & Solana
Ethereum Gas Market
Hourly Average Gas Fees Burnt per Block
Hourly Average Cost to Transfer ETH (21,000 Gas)
Hourly Average Blob Gas Usage per Ethereum Block
Hourly Average Excess Blob Gas per Ethereum Block
Beacon Chain Balance
Beacon Chain - The Beacon Chain increased dramatically since the start of June with over 0.4M ETH deposited. The balance increase comes alongside increased ETH optimism and after the Pectra upgrade which allows for more flexible staking amounts through variable validator balances.
Beacon Chain Summary
Beacon Chain Balance
Beacon Chain - After reaching a minimum number of validator exits around June 8th, after a long slew of elevated numbers, the trend has started to reverse with a slight increase at the end of the this week (Exited Unslashed). Conversely, the number of validators entering the activation process has grown steadily (Pending Initialized), pointing to an increase interest in staking.
This aligns with the Beacon chain balance growing strongly over this past month and once again points to these validator exits being a result of the Pectra upgrade which allows consolidation of stake rather than investors actively pulling their stake and ceasing validator activity.
Beacon Chain Validator States
Uniswap V3
Uniswap V3 Hourly Volumes - Arbitrum
Uniswap V3 Hourly Transaction Count - Arbitrum
Liquidations
Aggregate Liquidations across Aave & Compound - BTC Spot surpassed $110k after a hard fall down and a strong rally which happened over the space of 2 weeks. Despite this volatility, liquidations remained minimal showing that investors overall are treading more carefully with a wider spread in liquidation levels as geopolitical movements lead the market narrative.
Free
PREMIUM
Institutional
Asian Crypto Pulse
Bitcoin traded sideways near $118K, up 0.8%, with 7-day implied volatility easing from 36.7% to 33%. Ethereum rose over 1% to $3,800, with its 7-day volatility cooling from 70% to 63%. Option skews for BTC and ETH showed short-term sentiment shifts, while altcoins XRP and Solana gained traction. US job openings declined by 275,000 in June to 7.44M, signalling softer labour demand, and Fed rate-hike odds rose to nearly 98%. Strategy, the largest public Bitcoin treasury, purchased 21,021 BTC at $117,256 each, raising its total holdings to 628,791 BTC. The SEC approved in-kind creations/redemptions for Bitcoin and Ether ETPs, while Japan and South Korea advanced crypto regulatory and product initiatives.
Free
PREMIUM
Institutional
Trade Shifts, Crypto Gains
After weeks of negotiations, the US and the EU have reached a trade agreement that will see a majority of exports from the EU face a 15% tariff. President Trump called it the "biggest of all the deals" and according to the President, the trade deal will also see the EU purchase $750B of energy from the US and invest $600B in the US on top of existing investments. BTC recovered over the weekend from a drop to $115K which coincided with Galaxy Digital helping to facilitate the sale of 80,000 bitcoins "for a Satoshi-era investor" and it currently trades above $119K. ETH's term structure of volatility has inverted once more as front end volatility has jumped from 62% on Saturday to a current level of 71%, while its spot price reached $3,900, a level it last traded at in mid-December 2024. Bitcoin Hashrate is operating in all time high territory at over 1.02 ZH/s.
Free
PREMIUM
Institutional
Chasing Blocks
Bitcoin rebounded to $119K after briefly dipping near $117K, with its 7-day implied volatility stabilizing around 30%. Ethereum gained over 2% in 24 hours, nearing $3,900, and saw its volatility rise from 63% to 70%. Option skews for both BTC and ETH flipped sharply positive, signaling changing market sentiment. European stocks and S&P 500 futures rose modestly, while the dollar hit a five-week high. ARK Invest added $20M in BitMine shares—now the largest ETH treasury holder—despite the stock falling 11.8%.