Try Quests to earn cryptoETH Flash Bounty: What’s Next?
Method⚡
Ethereum ==Merge== occurred on ==Sep 15th== and it had lots of good and bad effects.
In this dashboard i will deep dive into ethereum merge and its consequences and see what people do before and after the merge.
For gathering the data that i needed, i used multiple tables from ==Ethereum.core== database provided by Flipsidecrypto.
==“ethereum.core.fact_transactions”== table for ==Ethereum== Total stats,
==“ethereum.core.fact_event_logs”== table for ==Stake== Stats,
==“ethereum.core.fact_blocks”== table for ==Mining== stats,
==“ethereum.core.ez_dex_swaps”== table for ==Swap== stats,
==“ethereum.core.ez_nft_sales”== table for ==NFT== stats and
==“ethereum.core.fact_hourly_token_prices”== for ==Derivatives==.
I used Log scale in some charts to make them better to read and understand.
I analyzed the data since the beginning of September and divided the days before and after the Merge (2022-09-01~2022-09-15) and (2022-09-15~2022-10-01)
Introduction🚩
What was Ethereum Merge?
The Merge was the joining of the original execution layer of Ethereum (the Mainnet that has existed since genesis) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminated the need for energy-intensive mining and instead enabled the network to be secured using staked ETH.
More Info
Who are Ethereum miners?
Mining is the lifeblood of any proof-of-work blockchain. Ethereum miners - computers running software - used their time and computation power to process transactions and produce blocks prior to the transition to proof-of-stake.
More Info
Findings👀
- Sep 16th and 17th, 2 days after merge had the highest number of Ethereum transactions and users
- Number of transactions and users peaked on Sep 17th(Highest in September)
- In overall, number of transactions and users and spent fee increased after the merge incident
- Ethereum Transactions and users had many fluctuations on mid September
Findings👀
- After Sep 17th, number of swaps started to increase as we see in the bar chart above
- Sep 16th recorded a huge swap volume in USD with a total of 8.93B $
- Total volume in USD is almost the same in both before and post merge
- They were 110K more swappers post merge than before merge
- In overall, number of swaps and swappers on Ethereum increased but volume in USD didnt really changed that much
Findings👀
- After merge(Sep 15th),number of stakes and stakers increased dramatically
- Second 15 days of September was an epic half for staking stats
- Almost 10K more transactions recorded after merge than before
- 12628 users staked their assets on ethereum staking platforms after merge
- In overall, merge put a good effect on staking and the stats increased after merge happened
- So many more people came to stake their assets after merge (Almost double the before merge users)
Findings👀
- Most of Ethereum NFT Sales were on Sep 18th, 19th and 20th(After Merge)
- Sales,buyers,sellers and traded NFTs increased after ethereum merge means that people interacted more with NFTs after merge
- NFTs sales volume didnt changed that much since merge event
- There were more buyers and sellers after merge so they will be more traded NFTs too and as we see in the pie chart in the left, there were more traded NFTs after merge too as i said
- Both number of buyers and sellers recorded their highest on Sep 20th in the whole September
Findings👀
As we see, Ethereum price dropped after merge unlike most thoughts, most people thought that ethereum price will increase after merge and they were investing on it, but sadly it dropped like the rest of the year and remained bearish.
As we entered in October and almost 15 days have passed since merge, people still think that merge is good for ethereum in long term and its price will increase later the year or after christmas.
I showed some eth derivatives above in line charts, as we see stETH/ETH ratio has been closer to 1 after merge, as well as sETH2/ETH ratio.
In overall, ethereum merge increased eth derivatives/eth ratio.
Conclusion💡
- Merge has increased almost all ethereum stats and it has been good for Ethereum Network
- The 5 days after merge were busy and profitable days for Ethereum Network (Sep 15th until Sep 20th)
- After the merge, the Ethereum market has boomed
- People made more transactions,swaps,stakes,nft sales and created blocks after merge than before merge
- Although ethereum price dropped after merge but people didnt leave eth and instead of that interacted more with different ethereum sections
