Untitled Board

    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?

    From a top-level, a decentralized exchange (DEX) is a platform that allows users to trade on a peer-to-peer (P2P) basis, without any form of custodial arrangement over the funds being moved. There is no need for an intermediary, or a team, for the marketplace to function. The DEX, by way of smart contracts, facilitates the movement of money itself as a result of contract functions. Event A, perhaps a buy, then correlates to Function A, funds then being moved from the liquidity pool to the users wallet, and so on.

    Therefore, an Ethereum DEX is a platform that facilitates the movement of tokens specifically on the Ethereum blockchain in a decentralized fashion, typically via ERC-20 smart contracts and an Automated Market Maker (AMM) – that allows for trades in a decentralized manner.link

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    Gwei as Ethereum's "Gas"

    The Ethereum platform has a native cryptocurrency, known as ether, or ETH. Ethereum itself is a blockchain technology platform that supports a wide range of decentralized applications (dApps), including cryptocurrencies. The ETH coin is commonly called Ethereum, although the distinction remains that Ethereum is a blockchain-powered platform, and ether is its cryptocurrency. Gwei is used to price the "gas" used to transact on the Ethereum network.

    Methodology

    For answering the questions we use ethereum.core.ez_nft_mints , ethereum.core.ez_dex_swaps , ethereum.core.fact_transactions.

    Sections:

    1. Mint Gas Fee
    2. Dexes
    3. Ethereum gas

    Conclusion

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    Gas minting NFTs on 2022 increase more than 2 times compare to 2021.

    Average gas for minting on 2021 is more than 2022.

    On May 2022, we see the highest gas fee minting and highest average gas fee minting compare to other 2022 monthes.

    On May, most of the minting gas is related to ‘the othersidr‘ collection.

    we can see increasing trend by years in number of mints and minters.

    On 2022 mints number increase four times compare to 2021.

    ‘the otherside‘ and ‘vaynersports pass‘ collections has largest average consume gas.

    57.3% of highest gas consume is related to ‘tubby cats‘.

    And 62.2% of total gas of mints related to ‘the otherside‘ collection.

    largest number of DEX swaps and swappers is related to uniswap-v2 and uniswap-v3.

    Also curve has highest volume of DEX swaps and highest average swap volume.

    After May, monthly average swap volume decrease and average swap volume of ==synthetix== increase about two times.

    we can see the monthly swappers chart has decreasing trend till June. After June we can see that number of swappers increase.

    On October 2022, we see the largest number of swaps.

    On May, we see highest swap volume that most of them related to ==curve.== After May swap volume decrease.

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    Minimum gas fee in past two month in average is about 10.

    On December 9, we can see the highest burn Gwei and largest number of transactions.

    In past two month the burn Gwei is in average about 20M.

    The average gas price for these past 2 month in average is about 20.

    Ethereum supply in past 3 month is constant.

    After increasing trend of hole crypto market also Ethereum we can expect that Ethereum supply increase and also after next upgrade of Ethereum we can see the increasing trend in Ethereum supply.

    Alik110 in his dashboard predict daily number of new ETH supply on each month with 1/8, 1/4, 1/2 and 1/1 of consumed gas on each month during the year 2022. we can see the increasing trend for Ethereum till end of 2023. Also for more info about upgrades potential impact you can read this article :

    Gas minting NFTs on 2022 increase more than 2 times compare to 2021.

    On May, most of the minting gas is related to ==‘the othersidr==‘ collection.

    we can see increasing trend by years in number of mints and minters.

    On 2022 mints number increase four times compare to 2021.

    largest number of DEX swaps and swappers is related to uniswap-v2 and uniswap-v3.

    Also curve has highest volume of DEX swaps and highest average swap volume.’

    Minimum gas fee in past two month in average is about 10.

    In past two month the burn Gwei is in average about 20M.

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