Introduction

What is the Solana network?

Solana is an open-source, public blockchain that supports smart contracts, peer-to-peer tokens (NFTs), and a wide range of decentralized applications. Coin is a native of the Solana SOL network, which, in addition to the role of exchanges, is also used to secure the network through staking or depositing. Solana network has the ability to process 50 to 65 thousand transactions per second. For this reason, it considers itself a serious competitor for Ethereum.

what is hadeswap?

At the core, it's an Automated Market Maker (AMM) NFT marketplace that improves NFT liquidity and its trading experience.

It enables users to trade and swap NFTs using liquidity pools, exactly like you would trade and swap cryptocurrencies using Uniswap. Some of the key features of hadeswap are:

• 0% platform fees from the start - to be converted into 0.5% platform fees [to be 100% dedicated from day 1 to ABC NFT holders]

• 0% royalty fees per default but you have the possibility to pay them if you wish to do so [not active in lite beta version]

• Progressive selling/buying of NFTs

• Earn SOL

Methodology

Wash trading is when the buyer and seller in a transaction are the same person or two people colluding. It's banned in conventional financial markets because it misleads the rest of the market about the true level of demand, distorts prices and entices others to trade on fake information. This activity has been illegal in many traditional markets in the U.S. since the passage of the Commodity Exchange Act (CEA) of 1936. However, the practice still occurs in unregulated crypto markets, and in particular with NFTs. According to Chainalysis, “Wash trading involving NFTs has yet to be the subject of an enforcement action.” Historically, wash trading has been an issue for cryptocurrency exchanges attempting to inflate their trade volumes – for example, Bitwise Asset Management claimed in 2019 that up to 95% of all reported bitcoin (BTC) trading volume on exchanges is faked. With NFTs, an individual might set up multiple crypto wallet addresses to buy and sell an NFT to themself to make it appear as though a digital asset is highly valuable. Transactions between wallet addresses are stored on a blockchain and can be viewed publicly – meaning, anyone can see when an NFT was traded and how much that NFT sold for. However, wallet addresses contain no identifying information and are presented as a string of alphanumeric characters, making it very difficult to discern who is behind a transaction and if two wallet addresses are owned by the same individual.

• To extract the price of Solana

  select 
      block_timestamp::date as avg_date
      ,avg (swap_to_amount/swap_from_amount) as price
  from solana.fact_swaps
  where swap_to_mint in ('EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v'
  						 ,'Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB') 
    and swap_from_mint = 'So11111111111111111111111111111111111111112'
    and succeeded = 'TRUE'
  group by 1
  order by 1
  

• Marketplace = 'hadeswap' was used for analysis In table solana.core.fact_nft_sales

Summary and aggregate statistics

• The number of working days is about 31 days
• The number of sales is about 20K
• The number of buyers is 1581
• The number of sellers is 3,000
• The average sales volume is about 7SOL
• The sales volume is about 186K SOL
• The median selling price is about 2SOL
• The average selling price is $424
• The sales volume is about $10 million
• The average daily sale is about $333K
• Average weekly sales of about $2 million

Grouping by day

Daily sales volume based on three categories

• The highest volume of sales on October 9 and for Normal Trading

Number of daily sellers based on three categories

• The best seller on October 13 and for Normal Trading

Comparison of daily sales growth based on three categories

The number of daily buyers based on three categories

• The most buyer on October 10 and for Normal Trading

Number of daily sales based on three categories

• The highest sales on October 9 and for Normal Trading

Comparison of sales volume growth on a daily basis for three categories

Comparison of the average sales volume on a daily basis

• The highest average sales on September 25 for Normal Trading

• The percentage of sales is about 55% for Normal Trading and about 44% for POS Wash Trading
• The percentage of buyers is about 60% for Normal Trading and about 40% for POS Wash Trading
• The sales volume is about 57% for Normal Trading and about 43% for POS Wash Trading
• The percentage of sellers is about 65% for Normal Trading and about 35% for POS Wash Trading
• The average sales percentage is about 43% for Normal Trading and about 42% for POS Wash Trading and about 14% for Transfer Back Wash Trading

Statistical analysis of the top 10 traders

Comparison of Hadeswap and Magic Eden in the last month

1- Comparison of the number of buyers and sellers and the number of sales 2- Comparison of activity days

1- Comparison of sales volume $ 2- Comparison of daily sales rate and average sales $

Compare the number of daily sales

• Top selling on September 25 for Magic Eden

Comparison of average sales volume $ daily

• Highest average daily sales volume $ on October 18 for Magic Eden

Comparison of the number of daily buyers

• Top buyer on September 27 for Magic Eden

Compare the number of sellers per day

• Top seller on October 9 for Magic Eden

Comparison of sales volume $ daily

• Highest daily sales volume $ on October 18 for Magic Eden

Comparison of sales type in three categories → POS Wash Trading & Normal Trading & Transfer Back Wash Trading

Findings and conclusions

Summary and aggregate statistics for Hadeswap →

• The number of working days is about 31 days

• The number of sales is about 20K

• The number of buyers is 1581

• The number of sellers is 3,000

• The average sales volume is about 7SOL

• The sales volume is about 186K SOL

• The median selling price is about 2SOL

• The average selling price is $424

• The sales volume is about $10 million

• The average daily sale is about $333K

• Average weekly sales of about $2 million

Comparison of sales type in three categories → POS Wash Trading & Normal Trading & Transfer Back Wash Trading →

• The percentage of sales is about 55% for Normal Trading and about 44% for POS Wash Trading
• The percentage of buyers is about 60% for Normal Trading and about 40% for POS Wash Trading
• The sales volume is about 57% for Normal Trading and about 43% for POS Wash Trading
• The percentage of sellers is about 65% for Normal Trading and about 35% for POS Wash Trading
• The average sales percentage is about 43% for Normal Trading and about 42% for POS Wash Trading and about 14% for Transfer Back Wash Trading

Daily statistics →

• The highest sales on October 9 and for Normal Trading
• The most buyer on October 10 and for Normal Trading
• The best seller on October 13 and for Normal Trading
• The highest volume of sales on October 9 and for Normal Trading
• The highest average sales on September 25 for Normal Trading

Comparison of Hadeswap and Magic Eden in the last month→

• Top selling on September 25 for Magic Eden
• Top seller on October 9 for Magic Eden
• Top buyer on September 27 for Magic Eden
• Highest daily sales volume $ on October 18 for Magic Eden
• Highest average daily sales volume $ on October 18 for Magic Eden

The dashboard link has been tweeted