June 2022 – Monthly Research Key Data – ETH Gas Price Decreased by Almost 16%

By Olga Ortega

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Key data

The average Ethereum gas price decreased by 15.8% in June compared to May.
The total number of active wallets decreased by 14.5% in June compared to May.
The average number of ETH transactions per day decreased by eight percent.
On June 13, 2022, total market capitalization decreased below the value of $1 trillion – therefore, the Ethereum gas price rose by 148%.

The number of Ethereum transactions in May was 34,961,397 (average transaction volume per day was 1,127,787).

The number of transactions in June was 31,087,190 (average daily volume was 1,036,240).

The average Ethereum gas price from May 1-31, 2022, was 65.94 gwei. In June, it was 55.26 gwei.

The price decreased by 15.8%.

The average number of transactions per day decreased by eight percent.

The total number of active crypto wallets in the Ethereum blockchain in May was 6,311,678. In June, it was 5,398,064.

The average number of active crypto wallets per day was 466,063 in May. In June, it was 401,525 – that is, it decreased by 13.6%.

Gas price in May 2022

Gas price in June 2022

According to the chart, in June, there were no significant peaks in the price of ETH gas, with the exception of one day on June 13, when the total market capitalization fell below $1 trillion and Bitcoin lost 15% of its value.

The number of transactions on that day increased by 10%, and the price of gas on the Ethereum network increased by 148% compared to the previous day. This was due to the recession and panic sell-off.

The whales began to buy assets on the ETH network, so $50 million worth of Wrapped Bitcoin (wBTC) was bought, as well as other assets worth more than $25 million.

Data-based conclusion

In June, the number of active crypto wallets and transactions in the Ethereum network decreased, which led to a decrease in the price of gas by an average of 15.8%, confirming the maximum fear of investors and the continuation of the bear market.

There is a general downward trend in the market – the number of active wallets and the creation of new ERC-20 tokens and masterchef contracts is decreasing. In the 11-year history of the crypto market, investors are still subject to panic due to the strong volatility of assets.

Olga Ortega is the chief product officer and co-founder of the real-time DeFi explorer AnalytEx by HashEx. She is an accomplished expert in the field of IT, with over 12 years in development and implementation of large-scale data systems. Over the years Olga held managerial positions in multiple global organizations, such as IT giants Google and Facebook. At AnalytEx, she is responsible for driving the project’s development.

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