Try Quests to earn cryptoEVM - 3. Merry Christmas?
Merry Christmas?
The holidays and New Year are often chaotic in the crypto and defi space, as users make a spree of new transactions and wallets as they receive (and give) some cash and coins as holiday gifts.
How has this activity impacted the broader Ethereum ecosystems? Are users creating new wallets or buying tokens with their newfound holiday wealth? Are they staking all these new tokens once they get them? Or are they selling tokens to pay for their own gifts and holiday travel?
Choose an Ethereum chain, fork or Layer 2, such as BSC, Polygon, Arbitrum, Optimism, or Mainnet.
Create a dashboard that captures activity across metrics such as new users onboarding, token prices, NFT prices, or any other notable trends or events for your chosen chain. Feel free to examine multiple chains or ecosystems in your dashboard.
Introduction
Interoperability between blockchains is one of the biggest problems that the industry is trying to solve. EVM compatibility is a good stepping-stone in solving this issue, proven by some of the most used blockchains currently: Avalanche, Binance Smart Chain, Fantom Opera, and Polygon[1].
There is a long list of projects that have launched an EVM-compatible layer one blockchain.
All these side chains represent EVM-compatible blockchains. They offer greater speed, low transaction costs, and feature higher capacity compared to Ethereum. In the end, it’s all about optimization and the best-decentralized user experience in the crypto space.
Also the Arbitrum and Optimism networks are layer-2 functionality, which seeks to solve the congestion that the Ethereum network has been experiencing by improving how smart contracts are validated.
Method
In the current dashboard I tried to track the some of EVM networks to track activities on them trough recent Christmas(2023) by assessing the following metrics:
- Price change in percent.
- Transactions Metrics by action type (NFT interaction, Swaps activity, and etc.)
The metrics have been assessed since recent December(2023)
The activities had parametrized by label type and you can change it by your own chose after login to Flipsidecrypto.
✍🏻 Conclusion
As of Findings above:
The BSC and Polygon have had the most transactions in total and EVM users tends to have the most interact with these chains that it could typically because of low transactions fees amount and higher speed of filling the transactions.
Optimism and Arbitrum have had the most Defi interactions that could be because of Layer3 & Galexe’s campaigns.
Polygon has had the most NFT interactions during the last Christmas because of lower fees amount and cheaper NFT collections.
Hey there 👋!
Firstly, I appreciate you sticking with it until the conclusion.
I'm Hamed, a civil engineering Ph.D.
student interested in data analysis.
I've made many similar dashboards and visualizations since I started at Flipside in January.
Please take a look at my various contact details and let me know what you think.
About:
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Author: HaM☰d
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Discord: 0xHaM☰d#8391
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Twitter: @arjmandi_hamed
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Email: h_arjmandi2012@yahoo.com
:hourglass_flowing_sand: Price Changes around Christmas
The charts above show the daily average price of native tokens on aforementioned networks:
Besides of that tokens I brought some tokens on optimism like VELO & SNX, and whereas the Arbitrum has not native token I chose the MAGIC as of the Arbitrum’s chain selected token.
As of chart above right, can be seen the OP token has had the most positive price change in percent.
:hourglass_flowing_sand: Following visuals are deals with New & Active users on each networks
- BSC and Polygon have allocated to itself, the most New & Active users in total since recent December, respectively.
- Although, the most daily transactions have executed on BSC and Polygon chains, but Arbitrum and Optimism have had the most transactions per user in average.
- As excepted the Ethereum has had the most fees volume in $USD.
:hourglass_flowing_sand: Swaps Metrics have evaluated in the following visuals
- BSC has had the most swaps transactions and active unique swappers count in total with a large deference(more than 3x than others).
- Although, the most daily swaps transactions have executed on BSC , but Polygon and Optimism have had the most swaps transactions per swapper in average.
