Blockchain Fees | ForkLog

ForkLog 16 02.09.2024

DeFi Protocol Fees Plummet by 24% in August

In August, DeFi protocols collectively garnered $288.38 million in fees, a stark decline from $494.14 million the previous month. This 24.4% drop brought the figure close to February levels, experts from The Block noted. Source: The Block. Lido emerged as the leader with $76.18 million in fees, followed by Uniswap ($49.6 million), Jito ($31.98 million), […]

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ForkLog 9 02.09.2024

Ethereum Community Proposes Solution to Inflation Issue

A Web3 researcher known as Cygaar has called for an increase in transaction fees for BLOB objects in Ethereum to restore the ETH burn rate. Right now the relationship between Ethereum L1 and its L2s is quite lopsided. L2s receive the benefits of Ethereum security without contributing much value back to ETH. There are two […]

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ForkLog 16 23.08.2024

Bitcoin Transaction Fees Surge Over Tenfold

On August 22, the average transaction fee on the Bitcoin blockchain surged by 937.7% compared to the previous day, rising from $0.74 to $7.68, according to Blockchain.com. Source: Blockchain.com Since July, average network fees had remained relatively stable, staying below the $2 mark. On August 18, the fee reached a historic low of $0.56. The […]

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ForkLog 16 12.08.2024

User Pays $89,000 for $2,200 Ethereum Transfer

An unidentified user likely paid 34 ETH (~$89,239) in gas fees by mistake for transferring 0.88 ETH worth ~$2,262. This was noted by on-chain analyst DeFiac. Someone just burned ~$90k on tx fee for a simple eth transfer. pic.twitter.com/R9beCnNZv1 — DeFiac (@TheDEFIac) August 11, 2024 According to YCharts, the average transaction fee on the Ethereum […]

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ForkLog 6 08.07.2024

TRON to Introduce ‘Gas-Free’ Stablecoins

The TRON team is developing a solution for fee-free P2P stablecoin transfers, as announced by the project’s founder, Justin Sun. Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves. — […]

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ForkLog 11 03.07.2024

Pump.fun Surpasses Ethereum in Daily Revenue

On July 1, the daily revenue on the Solana-based meme token launch platform Pump.fun reached $1.99 million, surpassing that of the Ethereum network ($1.91 million), according to DeFi Llama. Source: DeFi Llama. According to Dune Analytics, on July 1, an additional 11,528 tokens were launched on the platform, bringing the total to 1,199,685. Pump.fun’s cumulative […]

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ForkLog 7 27.06.2024

Pump.fun’s Meme Token Factory Revenue Drops by 30%

The daily commission volume on the Solana-based meme token launch platform Pump.fun has decreased by 30%, as noted by The Block. During the workweek from June 10 to 14, the platform’s average daily income was approximately $870,000. This figure has fallen to $605,000 in the current five-day period. Data: The Block. Experts from the publication […]

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ForkLog 12 06.06.2024

MEV Bot Emerges as Ethereum’s Top Gas Consumer

In the past 24 hours, the operator of the MEV bot jaredfromsubway.eth has expended over 215 ETH (~$830,200) on Ethereum gas fees. Source: Etherscan. This amount represents nearly 1.6% of the total, making it the largest fee payer on the network. Since February 2023, the bot has spent a total of 77,115 ETH or $176.7 […]

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ForkLog 6 04.06.2024

BLOB Integration Significantly Reduces Blast Usage Costs

The Layer 2 network Blast has begun utilizing BLOB objects, reducing transaction fees by approximately tenfold, according to The Block. On May 27, the protocol’s developers added support for Dencun, which includes EIP-4844. Blast will be upgraded to support blobs on Monday May 27 at 2PM PT. Blast users will have lower gas fees and […]

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ForkLog 28 28.05.2024

Solana Proposal SIMD-0096 to Allocate Priority Fees to Validators

The Solana community has put forward SIMD-0096, a proposal to allocate the entire priority transaction fee to validators. Previously, half of the reward was sent to a burn address, while the other half went to the block producer. The initiative aims to enhance incentives for validators regarding the receipt of priority fees, thereby helping to […]

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ForkLog 7 14.05.2024

Vitalik Buterin Proposes New Gas Type for Ethereum Transactions

Ethereum co-founder Vitalik Buterin has released EIP-7706, introducing a new type of gas for certain transactions. The primary vectors are the functions max_basefee and Priority_fee, which calculate gas costs for execution operations, calldata, and BLOB. To implement these changes, amendments to EIP-1559 are necessary to apply the same calculation mechanism across all three transaction types. […]

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ForkLog 15 13.05.2024

Decline in Activity on Runes Protocol Observed

User activity on the Bitcoin protocol Runes has decreased, along with its share in transaction fees, compared to the first week of trading. According to a dashboard on Dune, fee amounts have been steadily declining, with only two days in May surpassing $1 million. Source: Dune. Since its launch on April 20, coinciding with the […]

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