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Ethereum is having its moment in the spotlight, and while its performance has been attributed to flows from digital asset treasury companies (DATCOs) and ETFs, its price wasn’t the only metric that hit an all-time high. For the second consecutive month, ETH’s price action was accompanied by record levels of perp volume. August saw nearly $2 trillion in volume, 30% more than July’s $1.5 trillion.
August also marked Ethereum’s highest DA usage ever, and its market share increased from ~53% in July to 63% in August. However, since the blob target of six still hasn’t been hit (average of 4.17 in August vs. 4.13 in July), the cost of blobs remains extremely low (near one wei). In the upcoming Fusaka upgrade, a “floor price” will be implemented to help address this issue.
