Fast Increase in Priority Fees (Tips) Alert - DEPRECATED

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

Alert Definition

Alerts if the Priority Fees (or tips) of a block are higher than its 100-block predecessors. For context, the concept of a Priority Fee, or tip, was introduced as part of EIP-1559 and it represents the portion of the total transaction fees that rewards miners. This serves as an added incentive so that miners prioritize transactions that have opted-in and paid a tip. The other portion is called the Base Fee, and it is burnt (destroyed) after the transaction is included in a block.

Dictionary

Name	AlertID	Category	Sub-category	Type	Unit	Interval
Fast Increase in Priority Fees (Tips) Alert	block_priority_fee_rsd_100b_hi	Alert	ETH PoS Alert	Sum	Gas	Ad hoc

Interpretation

A sharp increase in Priority Fees may occur organically as demand for block space increases, but they are more frequently associated with market events. At times, projects release new tokens and NFTs at specific block heights. This can lead to congestion as demand for block space increases at that specific height. Users bid exponentially higher priority fees to get access to specific tokens or NFTs. This practice is usually called Fee Sniping.

Potential Root Causes

Organic increase in demand for block space, leading to an increase in Priority Fees. Market-level event, such as the release of a new NFT, leading to Fee Sniping.

Asset Coverage

Ethereum (ETH)