Flash Bounty: Merge Open Analytics

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    In the following charts, which is the Ethereum price chart, you can see one of the main behaviors of Ethereum in response to the merge update.

    According to the results shown in the hourly chart, the Ethereum price starts to decrease a few days before the update, and even after the update, this downward trend continues and continues until now.

    Perhaps part of the reason for the decrease in the price of Ethereum is due to the decrease in the price of Bitcoin and the entire crypto market cap these days

    In the charts of the average, minimum and maximum price of Ethereum, you can see that the price of the days after the update is lower than the rest of the days.

    You can see the daily swap volume in DEXs, the charts on the left are grouped by DEX and the charts on the right are by time frame.

    The daily swap volume on September 15th, which coincides with the update day, reached nearly 2.5B USD.

    But the swap volume has decreased after the update.

    Uniswap was the best Dex in all three cases of DEXs

    In terms of the number of users and the number of transactions, the day of Merge had the largest number, and after and before Merge , they are almost the same.

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    Final results

    • Contrary to the words of Ethereum owners who said that the transaction fee does not change after the merge update, you can see that the average daily transaction fee has decreased after the update, this is also true for the average daily gas chart.
    • In the day or two leading up to merge, the amount of ETH transferred increased a lot, and then it returned to the previous state
    • The number of users and the number of transactions on the Ethereum blockchain have not changed much after the update
    • the Ethereum price starts to decrease a few days before the update, and even after the update, this downward trend continues and continues until now.
    • Perhaps part of the reason for the decrease in the price of Ethereum is due to the decrease in the price of Bitcoin and the entire crypto market cap these days
    • In the charts of the average, minimum and maximum price of Ethereum, you can see that the price of the days after the update is lower than the rest of the days.
    • The daily swap volume on September 15th, which coincides with the update day, reached nearly 2.5B USD.
    • In terms of the number of users and the number of transactions, the day of Merge had the largest number, and after and before Merge , they are almost the same.
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    Method

    In this dashboard, we want to analyze the behavior of the components in Ethereum after the merge update that happened on September 15, for this reason, we have categorized all the charts into three parts before the merge , the day of the merge and the days after the merge so that we can better analyze the behavior of the Ethereum blockchain and its users.

    What is the Ethereum Merge?

    The word “merge” alone tells you that The Merge has something to do with joining something together. You’ve also learned in the introduction that the Ethereum Merge refers to an important upcoming update on the leading programmable chain. Furthermore, you may also know that aside from the Ethereum mainnet and several Ethereum testnets, there’s Ethereum’s Beacon Chain. The latter was deployed in December 2020 but has been in “idle” mode since its inception. At the moment, this chain is only used for staking ETH.

    However, The Merge will bring Ethereum’s mainnet and Beacon Chain together. In addition, this update is quite significant as it will mark the end of energy-intensive mining. The latter is known as the proof of work consensus mechanism, which the Ethereum chain currently uses to confirm transactions. Due to this transition from one type of consensus mechanism to another, you must understand both to some extent. However, before we dig into the PoS vs PoW battle, let’s also look at when The Merge will take place.  (source)

    In the charts above, we have displayed many of the parameters of Ethereum tables on a daily and general basis, and you can check any one you like.

    But I will state the points that I find interesting below:

    Contrary to the words of Ethereum owners who said that the transaction fee does not change after the merge update, you can see that the average daily transaction fee has decreased after the update, this is also true for the average daily gas chart.

    In the day or two leading up to merge, the amount of ETH transferred increased a lot, and then it returned to the previous state

    The number of users and the number of transactions on the Ethereum blockchain have not changed much after the update