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Ethereum blockchain is well-known for its incase gas fees, which reaches their peak each time during huge congestions. Also, during the DeFi boom, and the recent 2021 bull rally, a hefty amount of transaction fees was collected by the platforms like Uniswap.
Sometimes the transaction fees hot up to be nearly 80% of the whole transaction amount. However, a new competitor has emerged who has dethroned Uniswap to be the leader when it comes to the share of gas fees.
According to the new reports released by nansen, an analytic tool, Opensea is the leader among the other the other Consumer entities for having a huge gas fees share.
The NFT marketplace has surpassed the most popular decentralized exchange in terms of gas fees collected.
.@opensea has flipped @Uniswap as #1 most used product on Ethereum. pic.twitter.com/BhhnU3VDEk
— Alex Svanevik (@ASvanevik) January 31, 2022
It clearly indicates the shift of focus of the cryptoverse from the DeFi space to the NFT. However a DeFi is still in the game as Opensea is above with a minor margin.
In the recent times the usage of NFT marketplace Opensea has exploded in 2021 and it was the only project which occasionally exceeded Uniswap usage time on time.
One can expect the healthy competition between the two platforms in the near future but the core remains the same. Despite hefty gas fees, yet the traders prefer trading on the Ethereum blockchain.
This clearly signifies the trust on the platform as on the other hand ETH 2.0 staking has not stopped despite an year of the launch of ETH 2.0 Phase 0.
Therefore, it pretty clear the the more than the traditional cryptos the DeFi’s and the NFTs may gain huge attention and adoption in the next bull run.