Try Quests to earn cryptoOptimism NFT Purchasing Behavior
Background
Optimism is a Layer 2 scaling solution for Ethereum. It helps reduce the transaction fee and transaction time on the Ethereum blockchain. Broadly speaking, Optimism helps solve Ethereum’s scalability dilemma. Scalability refers to the rate of transactions per second (TPS) on a blockchain network (ref).
Non-fungible tokens (NFTs) are cryptographic assets on a Blockchain with unique identification codes and metadata that distinguish them from each other (ref).
In this dashboard, I have shown the distribution of all NFT sales in Optimism based on price. I also showed what percentage of all sales were above 0.01 ETH? Above 0.1 ETH? 1 ETH? And then I answered this question: "Do you think there is a limit to reaching the top level of the NFT portfolio in Optimism compared to Ethereum?"
Methodology
Sections:
1) NFT sales on Optimism 2) NFT sales on Optimism VS Ethereum
Used tables:
- Optimism.core.ez_nft_sales
- Ethereum.core.ez_nft_sales
- Optimism.core.fact_hourly_token_prices
The currency column in the optimism.core.ez_nft_sales and ethereum.core.ez_nft_sales tables include various symbols. To calculate ETH price of NFTs, I joined these tables on optimism.core.fact_hourly_token_prices, and then I found the hourly ETH price and I calculated the sale volume in ETH price.
Analysis date: 10/18/2022
Conclusion
The results of this dashboard showed that almost 24% of the total sales were at a price higher than 0.01eth, and almost 76% of the total sales were at a price less than 0.01eth. Also, 2.87% of total sales were above 0.1ETH. Only 0.3% of all sales were above 1ETH (524 transactions).
Further, the results showed that the number of NFTs in the Optimism network is 828 NFTs. But in the Ethereum network, this number is almost 44 times (36.8 thousand NFT). The total sale of NFT in Optimism until October 17 is 3293 ETH, and it is 24.8 million ETH in Ethereum. Also, the highest selling price of NFT in Optimism is 6.15 ETH, but in Ethereum, it is 124.532 ETH. Most NFT sales in Ethereum are in the price range of 0.1 to 1 ETH, but in Optimism, most sales are in the price range of less than 0.01eth. Also, the results showed that the average sales in Ethereum are higher than in Optimism, and in the first five months of 2022, the difference between the average sales of NFT Ethereum and Optimism is much higher than in the second 5 months of 2022.
Considering the youth of the Optimism network and its collection of NFTs compared to Ethereum, it can be said that these collections can go to higher levels in the future, and due to its 2nd layer and its youth, we can hope for its progress. But in my opinion, with the ethereum network and its collection of NFTs, the arrival of Optimism NFTs at the levels of ethereum is far from expected, but it is possible in the crypto market.
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The opposite table shows that the number of NFTs in the Ethereum network is 44 times the number of NFTs in Optimism.
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Also, the number of NFT sales in Ethereum is 24.5M, and the number of sales in optimism is 175K, which shows that the number of sales in Ethereum was 140 times the optimism.
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The total NFT sales on Optimism is approximately 3.3K ETH, and on Ethereum, 24.9M ETH.
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On ==Optimism==, the ==most sold NFT== (132.34K ETH) was in the price range of ==less than 0.01 ETH==, but on ==Ethereum==, the most sold (10.2.3M ETH) was in the price range of ==0.1 to 1 ETH==.
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The total sale of NFT in Optimism is 3290 ETH. The highest selling price of NFT is 6.15 ETH. And the lowest selling price is 5nm (5e-9).
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In the daily sales chart, you can see the number of daily sales transactions. The best day in terms of the number of sales transactions is September 21, 2022, with 295 transactions. The blue line shows cumulative values. The total number of NFT sales transactions until October 17, 2022, is 174.72K transactions.
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In the "Distribution of NFT sales on Optimism by ETH price" chart, you can see the distribution of sales in four price ranges. Most NFT sale is at the price of Less Than 0.01 ETH. The number of transactions in this price range is 132,341. Also, at the price of 0.01-0.1 ETH, the number of transactions is 36840.
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Almost ==24.3%== of all sales were ==above 0.01ETH==.
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==2.87%== of total sales were ==above 0.1ETH==.
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Only ==0.3%== of all sales were ==above 1ETH== (524 transactions).
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==75.7%== of all sales were at ==less than 0.01 ETH==.
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The weekly distribution of NFT sales on the Optimism (by ETH price) chart shows that the highest NFT sales were in the last weeks of September and early October. Also, the graph "Daily distribution of NFT sales on Optimism (by ETH price)" shows that from the beginning of 2022 until the beginning of April, most of the sales were in the price range of 0.01 to 0.1 Ethereum. Since the middle of April, as you can see in the area chart, most of the sales have been at a price of less than 0.01 ETH. As a result, since April 10, most of the NFT sales have been made at prices below 0.01ETH.
- Area charts show the daily distribution of NFT sales in Ethereum and Optimism (based on ETH price).
- The optimism area diagram was explained in the first part of the dashboard. But you can see in the chart of Ethereum that from the beginning of 2022 to May 15, the most sales were made in the price range of 0.1 to 1 Ethereum. But from May 15 to the last day of the chart, most of the sales were made in the price range of 0.01 to 0.1 Ethereum. But in total, the most NFT sales in Ethereum have been made in the price range of 0.1 to 1.
- In the "Daily Avg sale (ETH)" diagram, the red color shows the average daily sale of NFT in OPTIMISM, and the purple color shows the average daily sale of NFT in Ethereum. Optimism has a much lower average sale compared to Ethereum. In the month of January and the beginning of February, the difference between the average sales of NFT in Ethereum and Optimism increased, and from February 14 to April 27, this difference decreased. From April 28 to May 12, this difference increases again, but from May 12 onwards, the average sales difference has decreased, and this trend has been maintained with little fluctuations.
