Ether MEV by the Numbers: Highest Profit Over $1 Million in a Single Day, Total Profit Over $13 Million in the Last 1 Month

There has always been a "dark forest" in the ethereum ecosystem. In the virtual space of trading blocks, the Gas mechanism enables participants associated with block validation to profit from arbitrarily including, excluding, or reordering transactions in the block, which is known as MEV (Maximum Extractable Value). The size of the MEV market rose by 1,113.21% in the year following the rise of DeFi, when the persistence of an average Gas price above 110 Gwei [1] was cited as one of the negative impacts of MEV development.

Nowadays, the average Gas price of Ether has started a continuous rising mode after being below 50 Gwei for a long time, and has been above 100 Gwei for many consecutive days, which is at the high level in the past one year. However, the number of on-chain transactions, which is directly related to the price of Gas, has remained relatively stable. So, will it still be MEV that drives this rise in Gas prices?

PANews data news column PAData comprehensively analyzed on-chain transaction data, verification node data of submitted blocks and MEV transaction data and found that: