DeFi Analytics 7th March 2025

Chain Fee Generation

Daily Fees Generated across Ethereum & Solana - Daily fees generated across both Ethereum and Solana remain consistent with last week. Ethereum ranged between $500k and $2.3M whereas Solana ranged between $800k and $1.5M

Although Ethereum’s fee generation varies more on a daily basis, with higher highs and lower lows, Solana generally continues to outperform Ethereum most days.

Daily Fees Generated across Ethereum & Solana

Ethereum Gas Market

ETH Gas Fees - Hourly average gas fees burned per block remains minimal with a spike of 0.5ETH on March 3, reflecting the shrinking demand for block space. Similarly, the cost to transfer ETH (21,000 Gas) remained below $2.

Hourly Average Gas Fees Burnt per Block

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

ETH Blob Gas - Blob gas usage remains consistent, fluctuating around 400k. Hourly average excess blob gas per Ethereum block showed a slightly larger than usual drawdown around March 2nd before spiking back to the usual elevated levels. This is driven by blob gas demand from Layer-2's 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 - Arbitrum's hourly volume spiked to nearly $450M on March 3rd after Trump's bullish post about a potential US crypto reserve triggered a market rally. This surge in activity also reflected in hourly transaction count, which peaked at approximately 10k.

Uniswap V3 Hourly Transaction Count  - Arbitrum

Liquidations

Aggregate Liquidations across Aave & Compound - Liquidations are increasing in frequency with 6 noticeable liquidation events across the last 2 weeks. However, they remain low this week, under $2M.