Fast Increase in Base Fees - DEPRECATED

THIS ENDPOINT HAS BEEN DEPRECATED AND WILL NO LONGER BE ACTIVELY MAINTAINED, UPDATED OR SUPPORTED

Alert Definition

Alerts if a block’s Base Fee is higher relative to its 100-block predecessors. For context, the concept of a Base Fee was introduced as part of EIP-1559 and it represents the portion of the total transaction fees that are destroyed and taken out of circulation (i.e. burnt). Ethereum post-1559 requires users to pay for a Base Fee as a prerequisite to include transactions in a block. The Base Fee can go up or down on the basis of the size (in gas units) of the previous block.

Dictionary

Name	AlertID	Category	Sub-category	Type	Unit	Interval
Fast Increase in Base Fees	block_base_fee_rsd_100b_hi	Alert	ETH PoS Alert	Sum	Gas	Ad hoc

Interpretation

A consistent increase in Base Fees might occur naturally as a result of an increase in demand for block space. Given the dynamics of EIP-1559, as blocks in the blockchain fill up, Base Fees increase. This causes short-term congestion as unprocessed transactions add up, and it is only resolved once the increase in fees disincentivizes users from transacting and the unprocessed transaction queue is cleared.

Potential Root Causes

Organic increase in demand for block space.

Market-driven events, such as market crashes and black swans, also tend to increase demand for block space.

Asset Coverage

Ethereum (ETH)