• MEV rewards spiked to over 6,000 during the weekend.
• Ethereum transactions and TVL remain normal as ETH’s bearish trend continues.

Amidst a whirlwind of turbulence in the DeFi space over the weekend, the Ethereum Maximal Extractable Value (MEV) soared to remarkable heights. It hit levels that were not seen in a long time.

This surge in rewards naturally left many curious about the state of transactions on the Ethereum network and ETH.

Read Ethereum’s [ETH] Price Prediction 2023-24

Ethereum validators ramp up rewards

During the weekend’s DeFi exploit, Ethereum network validators witnessed a remarkable surge in profitability, according to a post. According to data from MevBoost, the tech industry’s turmoil led to a substantial spike in MEV rewards for these validators.

On 30 July, the recorded MEV rewards peaked at over 6,000 ETH. This marked the highest level observed since Ethereum’s transition to Proof of Stake (POS). The second-highest recorded reward occurred on 11 March, with approximately 5,100 MEV rewards.

MEV plays a pivotal role in trading on the
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Author: Adewale Olarinde

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