The incredible growth of DeFi in the Ethereum ecosystem coupled with catalysts such as staking in Phase 0 of Eth 2.0 expected in Q4 are material drivers that have us excited for what’s to come. In this inaugural monthly Ethereum report, we dig into the Ethereum ecosystem and unpack the latest on the road to Eth 2.0. As you can tell, there’s a lot to cover so we’ll let you dive right in!
Ethereum just had a 52 day streak of daily transaction fees surpassing that of Bitcoin’s. The cumulative fees for this period were ETH $46.7M vs BTC $25M.
Led by Uniswap and Curve, AMM market share of DEX volumes has grown to up to over 80%. Monthly DEX volume hit $4.3B in July alone, surpassing FY 2019 volume of $2.4b.
Given the frenzy in DeFi, we evaluate incentives in ETH staking yields vs. yield farming.