The DeFi protocols deployed on the Ethereum (ETH) blockchain account for lower than 8% of the ETH fuel utilization as of Feb. 10, from 17% in January, in line with Glassnode knowledge analyzed by CryptoSlate.
A current CryptoSlate evaluation additionally revealed that DeFi exercise accounted for round 8% of all ETH fuel utilization in January, whereas NFTs accounted for 28%.
The chart beneath represents the fuel utilization share of main DeFi protocols on the ETH community. Decentralized trade Uniswap (UNI) accounted for the biggest share in fuel utilization amongst DeFi protocols within the first half of January.
Although its share declined from 15% to round 6% on Jan. 18, Uniswap continues to account for the biggest share in ETH fuel utilization.
In line with the chart, DeFi protocols apart from Uniswap didn’t document an uncommon change of their fuel shares. It’s doable to say that the general decline in DeFi fuel utilization was primarily attributable to Uniswap’s shrinking fuel utilization share.
Uniswap continues to be probably the most lively DeFi protocol on Ethereum. It turned probably the most used ETH contract in December 2022 and accounted for the biggest share in annual fuel utilization. The protocol facilitated over 15.5 million transactions and consumed over 2.8 million fuel in 2022.