Swap

Block

Stake

Fee & Gas

:eyes: Observations

• The average inflow volume of swaps has decreased since September 15, and is the lowest average volume since 2022.
• We see the lowest volume of inflow on September 17, UniSwap V3 platform has the largest volume of swap inflow, and the lowest volume belongs to Balancer. After September 17, we see a slight increase in volume, but in general, after merge, the volume of swap inflow It has decreased on all platforms.
• The number of swappers has increased in the last week on UniSwap V2 and V3 platforms.
• The volume of swaps(To) WETH has increased compared to before merge.
• The volume of stable coins swaps has not changed significantly compared to before merge.

• The number of miners has grown significantly since September 15.
• The average number of miners' transactions has decreased since September 17.

• After the merge, WETH stake volume has grown significantly compared to August.
• Lido and Karken platforms have the largest share of WETH stake volume after the merge.

Conclusion

• The average inflow volume of swaps has decreased since September 15, and is the lowest average volume since 2022.
• We see the lowest volume of inflow on September 17, UniSwap V3 platform has the largest volume of swap inflow, and the lowest volume belongs to Balancer. After September 17, we see a slight increase in volume, but in general, after merge, the volume of swap inflow It has decreased on all platforms.
• The number of swappers has increased in the last week on UniSwap V2 and V3 platforms.
• The volume of swaps(To) WETH has increased compared to before merge.
• The volume of stable coins swaps has not changed significantly compared to before merge.
• The number of miners has grown significantly since September 15.
• The average number of miners' transactions has decreased since September 17.
• After the merge, WETH stake volume has grown significantly compared to August.
• Lido and Karken platforms have the largest share of WETH stake volume after the merge.
• The average gas price and fee have decreased a little after the merge, and maybe the reason for that is the decrease in transactions and the decrease in the price of Ethereum.

THANK YOU FOR READING!

Twitter: mohsen.dastpeyman

Discord_id: mohsen#4796

Metric

I analyze the behavior of users before and after merge in 4 parts:

• Swap
  • Average daily/weekly swaps volume after/before merge
  • Total daily/weekly swaps volume after/before merge by platforms
  • Total daily swappers by platforms
  • Top 10 swaps volume (in) after/before merge
• Stake
  • Total swaps volume after/before merge
  • Total swaps volume after/before merge by platforms(Lido, ankr, RocketPool ,…)
• Block
  • Total daily number of miners after/before merge
  • Total daily number of transactions of miners after/before merge
• Fee & Gas
  • Average daily gas price after/before merge
  • Average daily fee after/before merge

Introduction

What Is the Ethereum Merge?

The Ethereum Merge is the joining of Ethereum’s proof-of-stake (PoS) Beacon Chain with the Ethereum Mainnet to transition the Ethereum blockchain off the legacy proof-of-work (PoW) system. As of mid-September 2022, Ethereum has officially switched over to a PoS model. It has given birth to Ethereum 2.0, a new version of Ethereum. This will result in a 99.95% reduction in Ethereum’s energy consumption and the ability to further scale the Ethereum ecosystem.1

The switch has moved the entire blockchain over to new PoS validator nodes that require staking or locking up 32 Ether (ETH) to join.2 Ether tokens will remain exactly the same for investors, and there should be no change to the operations of Ethereum-based applications.1 During the merge, users may not be able to transfer Ethereum-based assets.

Method

• Swap=> I used the ethereum.core.ez_dex_swaps table and got the total volume and number of swaps and swappers with filter date.
• Stake=> I used the ethereum.core.ez_eth_transfers and ethereum.core.fact_event_logs tables and grouped based on platform addresses and filtered based on date and obtained the staked volume.
  • Lido=0xae7ab96520de3a18e5e111b5eaab095312d7fe84
  • ankr=0x84db6eE82b7Cf3b47E8F19270abdE5718B936670
  • RocketPool=0x4D05E3d48a938db4b7a9A59A802D5b45011BDe58
  • Stakewise=0xC874b064f465bdD6411D45734b56fac750Cda29A
  • Shared_Stake=0x898BAD2774EB97cF6b94605677F43b41871410B1
  • Cream=0xcbc1065255cbc3ab41a6868c22d1f1c573ab89fd,0x49d72e3973900a195a155a46441f0c08179fdb64
  • kraken=0xa40dFEE99E1C85DC97Fdc594b16A460717838703
  • Bitcoin Suisse=0xc2288B408Dc872A1546F13E6eBFA9c94998316a2
  • stake fish=0x0194512e77d798e4871973d9cb9d7ddfc0ffd801
• Block=> I used the ethereum.core.fact_blocks table and obtained the average number of transactions and the number of miners with a date filter.
• Fee & Gas=> I used the ethereum.core.fact_transactions table and obtained the average Gas price and fee with a date filter.

The average gas price and fee have decreased a little after the merge, and maybe the reason for that is the decrease in transactions and the decrease in the price of Ethereum.

On September 15, when the merge took place, we saw the high price of fee and gas price, but in the following days, it decreased a little.