Flipside's World Cup Kick Off: Gas Guzzlers
Ethereum
Solana
As shown above totally $108.6M has been spent as gas fee of Ethereum transactions in last 30 days and average gas cost of each $1M worth of token transfers on Ethereum is $53
As shown on area chart at first 5 hours of the day from 00.00 to 5am average gas on Ethereum is around 508 which is lower than other hours of the day which increases from 6am until 11pm which is around 525 in those hours.
As shown on bar chart above average block gas price has been increasing in last 30 days which maxed on Nov 5 with 599, though it has been decreased in last few days.
0x6887246668a3b87f54deb3b94ba47a6f63f32985 is the address on Ethereum with most spent gas fee which is 29
If we look at bar chart above drawn to compare gas fee and Ethereum’s price we see that their trend is similar which is slightly increasing until they max out on Nov 5 with 4.28 of gas and $1,641 of Ethereum’s price then they decreased.
As shown above totally $9.91M has been spent as gas fee of Solana transactions in last 30 days.
As shown on area chart above average gas on Solana has been increasing from 00.00 which was around 1.73 then increases during the day until 6pm with 3 then decreases for the rest of the day.
As shown on bar chart above average block gas price has been increasing in last 30 days which maxed on Nov 9 with 6.64, though it has been decreased in last few days.
Fsb16JMXAWLML5PTLKVh5Lg1xviVB6ah5p7YYcJEw3g2 is the address on Solana with most spent gas fee which is 493
If we look at bar chart above drawn to compare gas fee and Ethereum’s price we see that their trend is similar which is slightly increasing, though price chart of $SOL maxes out fe days earlier on Nov 5 with $35.63 and gas fee maxes out on Nov 9 with $464K.
Algorand
As shown above totally $348K has been spent as gas fee of Algorand transactions in last 30 days and average gas cost of each $1M worth of token transfers on Algorand is $6.88
As shown on area chart above average gas on Algorand has been increasing from 00.00 which was around 0.44 and increases for rest of the day and maxes out on 11am with 0.83
As shown on bar chart above average block gas price has been increasing in last 30 days which we see two spikes on Oct 23 and 24 whit 0.748 and 0.843 average gas for blocks.
ZW3ISEHZUHPO7OZGMKLKIIMKVICOUDRCERI454I3DB2BH52HGLSO67W754 is the address on Solana with most spent gas fee which is 9,329
If we look at bar chart above drawn to compare gas fee and Algorand’s price we see that their trend is almost similar which is slightly increasing, though price chart of $ALGO maxes out few days later on Nov 6 with $0.43 and gas fee maxes out on Oct 25 with $19.7K.
Flow
As shown above totally $347K has been spent as gas fee of Flow transactions in last 30 days.
As shown on area chart above average gas on Flow has been increasing from 00.00 which was around 0.145 and increases for rest of the day and maxes out on 3pm with 0.257 then decreases for rest of the day until 11pm.
As shown on bar chart above average block gas price has been increasing in last 30 days which maxed on Nov 9 with 0.276
0xecfad18ba9582d4f is the address on Flow with most spent gas fee which is 120
If we look at bar chart above drawn to compare gas fee and Flow’s price we see that their trend is almost similar which is slightly increasing, though price chart of $ALGO maxes out few days earlier on Nov 6 with $1.8 and gas fee maxes out on Nov 5 with $16.47K.
NEAR
As shown above totally $5.3T has been spent as gas fee of NEAR transactions in last 30 days and average gas cost of each $1M worth of token transfers on NEAR is $8.7K
As shown on area chart above average gas on NEAR has been increasing from 00.00 which was around 1.7 and increases for rest of the day and maxes out on 6pm with 3.51 then decreases for rest of the day until 11pm.
As shown on bar chart above average block gas price has been steady with no obvious trend in last 30 days which maximum of average block gas occurred on Oct 17 with 3.085
token.sweat is the protocol on Flow with most spent gas fee which is 1.19*10^11
If we look at bar chart above drawn to compare gas fee and Flow’s price we see that their trend is almost similar which is increasing until they max out on Nov 5 with $206 of gas and $3.33 of $NEAR’S price then they decreased.
Optimism
As shown above totally $112.2K has been spent as gas fee of Optimism transactions in last 30 days and average gas cost of each $1M worth of token transfers on Optimism is $13.19K
As shown on area chart above average gas on Optimism has been decreasing from 00.00 which was 0.0188 until 7am which was 0.0109 then increases for rest of the day and maxes out on 6pm with 0.0217 then decreases for rest of the day until 11pm.
As shown on bar chart above average block gas price has been increasing in last 30 days which maxed on Nov 8 with 0.0313.
0xc4ed6555018d4360f983bf43937e584000b1951f is the address on Optimism with most spent gas fee which is 497
If we look at bar chart above drawn to compare gas fee and Optimism’s price we see that their trend is almost similar which is increasing, though price chart of $OP maxes out few days earlier on Nov 5 with $1.32 and gas fee maxes out on Nov 8 with $10.35K.
Osmosis
As shown above totally $2.026M has been spent as gas fee of Osmosis transactions in last 30 days.
As shown on area chart above average gas on Osmosis has been slightly increasing from 00.00 which was around 4.3 and increases for rest of the day and maxes out on 5pm with 8.5 and then decreases until 11pm
As shown on bar chart above average block gas price has been increasing in last 30 days which we see two spikes on Oct 27 and 28 whit 9.25 and 10.51 average gas for blocks.
osmo194ytn50yhh67rdha8akhs7c6zulnz4n2pv6n63 is the address on Osmosis with most spent gas fee which is 130
If we look at bar chart above drawn to compare gas fee and Osmosis’s price we see that their trend is almost similar which is slightly increasing, though price chart of $OSMO maxes out few days later on Nov 5 with $1.64 and gas fee maxes out on Oct 28 with $150K.
Introduction
This dashboard created to gas tracking that looks at gas usage by a chain over the last couple of months, Including Ethereum, Solana, Algorand, Flow, NEAR, Optimism and Osmosis.
In all sections I have answered questions of bounty as follows
- Total amount USD of gas spent on the chain in the last 30 days.
- Average cost of gas in USD per $1,000,000 of liquidity transferred on each chain 30 days
- Average block gas price hourly and daily
- The top 10 addresses on each chain that spend the most on gas in the past month
- Daily amount spent on gas by chain tracked over the last 30 days
- Chart gas spend to network token price
Conclusions
- Total amount USD of gas spent on the chain in the last 30 days in order are as follows: 1-NEAR 2-Ethereum 3-Solana 4-Osmosis 5-Algorand 6-Flow 7-Optimism
- Optimism with $13.19K has most average cost of gas in USD per $1,000,000 of liquidity transferred on it’s chain on last 30 days.
- As we see in all chains average block gas price hourly has been increasing since start of mid October towards mid November in which some maxed out around November 5th-10th or on late October.
- As we see in all chains average block gas price daily has been increasing since start of the day which is 00.00 towards evenings around 3pm-6pm then decreases again.
- Flow’s top wallet is the the top addresses on it’s chain that has the most share among top 10 addresses with the most spend on gas in the past month
- As we see price chart of native tokens of each chain has been increasing towards early November in which all of them maxed out around November 5th-8th and so gas spent on these chains also has been increasing.