Ethereum (ETH) Q3 2021 Results

In one line: These are astonishing results and yet not unexpected; 457K active wallets is what caught my eye the most…a fraction of a percent of the world’s total population

(Source: Bankless):

Protocol Results

• Network Revenue increased 511%. The total transaction fees paid from users to miners increased 511% YOY from $321.21 million in Q3 2020 to $1.96 billion in Q3 2021. Of this, $1.34 billion (68.2%) was burned via the implementation of EIP 1559 back in early August.
• Value Settled rose 398%. This represents the amount of transaction value settled on the network, which rose 398% from $107.75 billion in Q3 2020 to $536.48 billion in Q3 2021.
• Daily Active Addresses grew 24.1%. This isan estimate of the number of daily users on the network, whichgrew 24.1% YOY from 368,467 addresses in Q3 2020 to 457,402 in Q3 2021.
• Hash Rate grew 181%. The amount of computing power dedicated to securing the Ethereum network via Proof of Work rose from 250,888 GH/S in Q3 2020 to 705,663 GH/S in Q3 2021, resulting in a 181% YOY increase. 
• ETH Issuance Rate fell 29%. The rate of expansion of the ETH supply over the course of the quarter fell from 1.11% in Q3 2020 to 0.79% in Q3 2021, a 29% YOY decrease.

Ecosystem Results

• Total Value Locked in DeFi increased 1,242%. The cumulative value of all assets deposited into decentralized finance protocols increased from $9.23 billion in Q3 2020 to $123.90 billion in Q3 2021, representing a meteoric increase of 1,242% YOY.
• Total DEX Volumes rose 242%. This consists of all trading volume on decentralized exchanges. It rose 242% YOY from $48.27 billion in Q3 2020 to $189.16 billion in Q4 2021.
• Total Outstanding Debt increased 1,158%. This highlights the amount of borrowed assets on decentralized money markets like Compound and Aave, which grew from $1.27 billion in Q3 2020 to $16.09 billion in Q3 2021, an 1,158% annualized increase.
• Stablecoins Issuance jumped 405%. The quantity of “big three” stablecoins issued on the network during the quarter (USDT, USDC, and DAI) rose 405% YOY from $13.62 billion in Q3 2020 to $68.77 billion.
• BTC on Ethereum climbed 133%. This represents the total amount of Bitcoin tokenized on Ethereum, increasing 133% from 123,500 in Q3 2020 to 288,234 in Q3 2021.
• OpenSea Sales mooned 141,847%. This measures the trading volume on the leading NFT marketplace, which grew from $4.76 million in Q3 2020 to $6.57 billion in Q3 2021, a 141,847% increase.
• TVL on L2 rose 29,786%. This represents the amount of value locked in layer 2 scaling solutions, which rose 29,786% YOY from $8.41 million in Q3 2020 to $2.51 billion in Q3 2021.