MEV-related orderflow now represents 66–80% of weekly Ethereum priority fee spend, reflecting structural shifts in block building markets since 2024.
Tech & Launches ·
MEV-related orderflow has grown to represent roughly 66–80% of weekly priority fee spending on Ethereum, marking a significant shift in block building markets since 2024, according to recent research. This change reflects a move away from retail-facing Telegram bots that dominated earlier in 2024 toward MEV-driven demand for block priority. Within MEV markets themselves, competitive dynamics are shifting: the stat arbitrage and sandwich markets have historically concentrated around single dominant parties, though new competitors are now emerging in both segments, while the atomic MEV market remains more distributed.
Beyond MEV, wallet-level monetization is reshaping how users access priority. Wallet swaps—predominantly MetaMask—are gaining share relative to direct DEX frontends, though Telegram bots have recently resurged with GMGN emerging as a standout performer in recent weeks. Priority fee refunds offered by some wallets may be creating misaligned incentives that encourage higher priority fee spending among users.
The underlying driver remains unclear: whether these patterns reflect genuine shifts in transaction demand or structural changes in how orderflow is routed and valued within the block production stack. The research publishes supporting data via Dune dashboard and indicates a second part examining the supply side of builder economics is forthcoming.