INTRODUCTION

The FTX collapse started on November 8 causing HUGE troubles on the crypto market and big losses on investors bringing a lot of fear and skepticism on the industry.

In this dashboard we will look at how this affected the NEAR blockchain and we will review several metrics before and after the collapse.

METHODOLOGY

Below we will review each metric separately:

• Near Price
• Transactions and Active/New Users
• NFT Sales
• Swap Activity

DATA SOURCES: Data were taken from Flipside’s Near.core tables.

$NEAR Price

Here we see that the price dropped nearly 30% after Nov 8 from $3 to ~2$.

Transactions and Active/New Users

Above we the daily transactions and success rate of them. After Nov 8 we see an increase in transactions for a few days from 400k to 500k but the Success rate dropped from +80% to 61% !!! and it took 5 days to get back up to where it was before.

Above we see the daily new and active users which follow an almost identical pattern both steadily declining. The active users dropped from 74k to less than 60k that’s a 20% drop and the new users dropped from 17k to 12k or 30%.

Staking

Here we see the daily number of Unstaking transactions which tripled for a day but have increased since then from 130 to 200.

The users that unstake also increased since then from 100 to +150.

The volume seems to be kind or random, we see an increase the following days but if we take into account the previous days it doesn’t seem to affect so much.

NFT Sales

Above we see the daily NFT sales which had a very small decline and then an increase. The number of sellers an buyers decreased as well for about 3 days but then saw an increase as well.

The volume dropped considerably from 4.7k to 2.6k or 45% and has stayed at that level ever since. The average daily price has also dropped significantly but recovered in the last 3 days.

Swaps

Above we see the daily number of Swaps on Near which increased a lot (almost x10) for 3 days and now they are at 5.5k from 3k on Nov 7.

The daily swappers increased for a week ( 40% ) but now have dropped to the same levels they were before.

The daily Swaps volume x10 for 3 days reaching 14M from 2M before but ha dropped now to ~5M daily as it was a few days before. The average swap volume spiked for 2 days but now it is stable at the levels before.

CONCLUSION

• The price has dropped 30% since Nov 8 and it has stayed at that level.
• Transactions increased for a few days but the Success rate dropped to 60% the day of the collapse.
• The daily Active/New Users have been steadily declining since the collapse.
• The unstake transactions users and volume all increased for a few days after the collapse.
• NFT Sales dropped along with buyers and sellers.
• The NFT volume and average volume increased for a few days but then it dropped again.
• The daily amount of Swaps x10 for a few days (although they represent a small portion of the total transactions 14/500k = 2.8%) along with the number of swappers.
• The swap volume increased as well but now it has returned to pre Collapse levels along with the average swap amount.

From the above analysis we can see that there a shock for a few days (3-4) after Nov 8 but now most of the metrics has started to return to pre collapse levels.