Ethereum Supply Since 2022

Ethereum DEX Activity Since 2022

NFT Mints Gas Fees

Ethereum Supply For Mints Since 2022

Introduction

What is ETH?

Ethereum is a technology for building apps and organizations, holding assets, transacting and communicating without being controlled by a central authority. There is no need to hand over all your personal details to use Ethereum - you keep control of your own data and what is being shared. Ethereum has its own cryptocurrency, Ether, which is used to pay for certain activities on the Ethereum network.

What is Gas Fee?

A gas fee is a blockchain transaction fee, paid to network validators for their services to the blockchain. Without the fees, there would be no incentive for anyone to stake their ETH and help secure the network.

What is NFT?

NFT means non-fungible tokens (NFTs), which are generally created using the same type of programming used for cryptocurrencies. In simple terms these cryptographic assets are based on blockchain technology. They cannot be exchanged or traded equivalently like other cryptographic assets.

What is DEX?

A decentralized exchange (DEX) is a peer-to-peer (P2P) marketplace that connects cryptocurrency buyers and sellers. In contrast to centralized exchanges (CEXs), decentralized platforms are non-custodial, meaning a user remains in control of their private keys when transacting on a DEX platform.

About Web3

Web3 has become a catch-all term for the vision of a new, better internet. At its core, Web3 uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership. A 2020 post on Twitter said it best: Web1 was read-only, Web2 is read-write, Web3 will be read-write-own.

Core ideas of Web3

Although it's challenging to provide a rigid definition of what Web3 is, a few core principles guide its creation.

Web3 is decentralized: instead of large swathes of the internet controlled and owned by centralized entities, ownership gets distributed amongst its builders and users. Web3 is permissionless: everyone has equal access to participate in Web3, and no one gets excluded. Web3 has native payments: it uses cryptocurrency for spending and sending money online instead of relying on the outdated infrastructure of banks and payment processors. Web3 is trustless: it operates using incentives and economic mechanisms instead of relying on trusted third-parties

Questions

Let’s explore some key indicators of the health of the Web3 industry.

• Project ETH supply growth for 2023 by using various average gas prices.
• What is the highest value DEX swap, by protocol?
• Where was there the most DEX swaps by protocol?
• Which were the highest gas consuming NFT mints?

Method

To answer the questions, I divided the dashboard into 4 parts and analyzed it

• Ethereum Supply Since 2022
• Ethereum DEX Activity Since 2022
• Ethereum Supply For Mints Since 2022
• NFT Mints Gas Fees

The tables I used in this dashboard are:

• ethereum.core.fact_transactions
• ethereum.core.ez_dex_swaps
• ethereum.core.ez_nft_mints

By analyzing the data from the beginning of 2022 as well as some data before 2022, I have drawn conclusions about the future of Ethereum in 2023.

At the beginning of 2022, the number of transactions was high and gas was also high, but after the spring and summer we see a decrease in gas, if the transactions were still high. At the end of 2022, gas and transactions have decreased significantly. It can be said that in spring and summer the conditions were much better than in autumn and winter.

At the beginning of 2022, there was a correlation between transactions and gas prices, but over time, this correlation disappeared, and at the end of 2022, there is a correlation again.

The possibility of increasing transactions and gas is very high if it goes according to the pattern of previous years.

• The highest number of users and the number of swaps belong to Uniswap-v2 and Uniswap-v3 in 2022.
• More than 80%, about 3M users are in Uniswap-v2 and Uniswap-v3 in 2022.
• The largest swap volume belongs to Uniswap-v3 with 260 dollars and about 70%.
• Among the DEXs, the highest paid fee belongs to Uniswap-v3 and Uniswap-v3 in 2022.
• The highest paid fee is Uniswap-v3 with around 138K Eth in 2022.
• The maximum volume swapped among DEXs belongs to Curve with 70M dollars in 2022.
• The highest average volume swapped among DEXs belongs to Synthetix with 180k dollars in 2022.
• Uniswap-v3 is the most trusted platform among users in 2022.
• From the middle of April 2022, the paid fee of Uniswap-v3 has become higher than that of Uniswap-v2.
• The lowest number of users, number of swaps and paid fees belongs to Synthetix in 2022

In this section, charts shows Ethereum Supply For Mints Since 2022.

From the beginning of 2022 until the first week of May, fees for Mint have been increasing and then decreasing, as you can see in Cumulative Fees.

The highest volume of Mint happened in the second week of June with 833M dollars.

The highest number of mints and the highest number of minters were in the second week of September with about 1M mints and 367k minters.

In this section, I compared the average mint gas fee in 2022 and the total average mint gas fee, that in 2022, the average mint gas fee is almost half of the total average mint gas fee.

• Average ETH Spent on Gas for NFT Mints =>0.04 Eth
• Average ETH Spent on Gas for NFT Mints Since 2022 =>0.02 Eth

In 2022, mint gas fee has been reduced.

The highest commission of mint gas fee belongs to Collection genart721core with about 15K Eth throughout the years.

Collection DOODLE has the highest average gas mint fee with 1.5 Eth.

THANK YOU FOR READING!

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