Weekly Stats

Buyers and Sellers Crossovers

Distribution of Sales amount

Wash Trades

Wash trading is a form of market manipulation where an investor simultaneously sells and buys the same financial instruments to create misleading, artificial activity in the marketplace.

In terms of NFTs, wash trading occurs when the same user is behind both sides of an NFT transaction. It means that both the seller and buyer address is actually owned by the same person.

Top Collections

Total Stats

Users

• 3402 users only bought NFT from Coral cube. And 8032 users only sold NFT on Coral cube.

• 228 users only bought NFT from Hyperspace. And 672 users only sold NFT on Hyperspace.

Daily share of Marketplaces

Coral Cube

Coral Cube is different from other Solana NFT marketplaces because it is an aggregator marketplace. An NFT aggregator collates and links to the projects on other marketplaces such as Magic Eden, Solanart V2, and OpenSea to create a single place where users can browse and buy NFTs.

One of the main reasons NFT degens use Coral Cube is its hash list. As a result, you can see projects that are not-yet listed on Magic Eden. Once projects are on the secondary market, they are immediately indexed and listed on Coral Cube.

The team behind Coral Cube pointed out that the marketplace aggregator plans to launch a feature where its users can earn rewards as they trade NFTs.

Pros 

• Rarity rank feature 
• Supports 6 wallets 
• Showcases various Solana NFT collections 

Cons

• Doesn’t feature launchpad projects 
• Doesn’t have customer support
• Only available on the web

Hyperspace

Hyperspace is a rebrand of the now defunct Solanalysis—a Solana NFT analytics website. After the rebrand in February, Hyperspace became a Solana NFT aggregator.

It is serving as a touchpoint of Solana NFT, such that the users can trade across various Solana NFT marketplaces from a single platform. Thus, making the NFT trading experience much easier.

In its launchpad, Hyperspace is also working closely with new NFT projects to help them produce successful NFT launches. At the other end of the spectrum, it has an Upcoming Drop section so the users won't miss out on the latest mints.

Pros

• An all-in-one Solana NFT marketplace
• Supports a lot of native Solana wallets
• 2% transaction fee

Cons

• Has a list of unverified collections

Methodology

• Source: Link
• Date of Analysis: 10/31/2022
• All NFT sales data were extracted from solana.core.fact_nft_sales table.
• When a trader buys a specific NFT more than once, all transactions of that buyer with that specific NFT are considered as wash trading transactions.
• Sales transactions are divided into these categories to analyze the distribution of sales:
  • Less than 1 SOL
  • 1-5 SOL
  • 5-10 SOL
  • 10-25 SOL
  • 25-50 SOL
  • 50-100 SOL
  • More than 100 SOL

Summary

• Coral cube is older than Hyperspace and logically, the sales volume and sales count of this aggregator are higher than Hyperspace’s.
• The number of sellers on Coral cube is more than the number of buyers, but in Hyperspace number of buyers is higher than the number of sellers.
• Weekly charts show that the average sales volume per sale transaction, average sale amount, maximum sale amount, and median sale amount in Hyperspace is much more than coral cube’s.
• The increase rate of users on Hyperspace is more than Coral cube’s.
• 85% of sales count on Coral Cube is from less than 1 SOL trades. While on Hyperspace less than 50% of the sales number is generated from those transactions.
• 47% of sales volume on the coral cube is from less than 5 SOL trades while on Hyperspace this is 15.7%.
• On Hyperspace, NFTs with higher prices are traded more often. with a lower transaction fees, it is a good choice to trade High-value NFTs on Hyperspace.

Introduction

Hyperspace and Coral Cube are the two most popular NFT aggregators on Solana. This means that they list all NFTs across different marketplaces along with allowing listings on their own marketplace.

In this dashboard, we will compare KPIs between Hyperspace and Coral Cube to see Which marketplace has done more volume, Which collections are popular on each marketplace, …

• Hyperspace is now only 39 days on Solana while Coral cube age is 217 days. (5.5X)

• Coral Cube sales volume is 5.6X Hyperspace sales volume.

• Coral Cube sales is 36.7X Hyperspace sales volume.

• Average sale volume on both aggregators is almost the same.

• Number of sellers on Coral cube is more than number of buyers, but in Hyperspace number of buyers is higher than number of sellers.

• Average sales per day in Coral cube is higher than hyperspace but the average volume on Hyperspace (5.23 SOL) is much higher than Coral Cube (0.801 SOL)

• On average, each buyer have bought 8.7 NFT on Coral cube while on Hyperspace is 2.69.

• Weekly charts shows that average sales volume per sale transaction, average sale amount, maximum sale amount, and median sale amount in Hyperspace is much more than coral cube’s. We can conclude that on Hyperspace, NFTs with higher prices are traded more often.

• The rate of increasing new users in hyperspace is more than coral cube’s till now.

• Hyperspace in less than two weeks reached more than 50% of the daily sales volume of coral cube’s (on October 9th)

• 85% of sales count on Coral Cube is from less than 1 SOL trades. While on Hyperspace less than 50% of the sales number is generated from those transactions.

• About 41% of sales count on hyperspace is from 1-10 SOL trades.

• 47% of sales volume on coral cube is from less than 5 SOL trades while on Hyperspace this is 15.7%.

• At the beginning of Coral cube, wash trades had been done, probably to increase the marketplace stats.

• 111 Anons with more than 4,000 sales and more than 2,100 purchasers has the highest collection sales number and buyers on Coral cube.

• Critters Cult with 249 sales and 185 purchasers has the highest collection sales number and buyers on Hyperspace.

• Trippin’ Ape Tribe collection with more than 43K SOL sales volume has the highest collection sales volume on Coral cube.

• Y00ts collection with more than 14.4K SOL sales volume has the highest collection sales volume on Hyperspace.