Try Quests to earn cryptoOpen Analytics Bounty: ETH (October 9)
Introduction:
In this dashboard we will analyze data from users who make their first transaction on the (Ethereum network) in early 2022 until now, The numeric and charts of users who made their first transaction before 2022 and in 2022. *We will Analyze this topics:
1-Users Activity before 2022 and in 2022 (Daily, weekly, Monthly)
2-Users first transaction on the (Ethereum network)
3-Users NFT trades in (Ethereum network)
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As we can see in early 2022 the transactions SUM(ETH_VALUE) are blow 3M but in jan22 we have upward daily transaction , from may 9 till jan14 we have two most transactions then the next above 5M is in sep16 which we can guess market is upward in next months.
*Chart of Users transaction count by (DISTINCT FROM-ADDRESS) , as we can see the counts are downward in early 2022 till mar16 then goes down again till jul15 upwards again for 1 month and we can guess it will continue upwards.
*The transactions count by address are showing that in mar14 the volume reach the peak then we have downwards counts till jul4 then the counts are normal.
*The weekly transactions by SUM(ETH_VALUE) is showing that we have 3 peak in may9, jun13 and sep12 which for the rest of the chart its downwards and we can guess it will make the same pattern for the future
*In this chart the transactions reach the peak in early mar1 and keep downwards till 1M a month and this is not good for Ethereum network in the next months.
*in the monthly transactions count by THE_VALUE we have same patterns till sep1 the downward keep continuing this is no good for Ethereum network in 2022 .
*This numbers shows that 21.1% of users before 2022 keep their transactions
in 2022.
As we can see users who made their first swap before and in 2022 keep getting downwards till oct9
and we can guess it will keep like that.
In the daily transactions as we can see the volume in early jan28 hit the 400B and till apr28 its continue 200B and blow on till may10 volume hit the peak around 750B transaction a day, but after may10 unfortunately swap volume keep getting worst .
weekly chart shows that volume hit the peak by early jan10 then keeps downward till now, in the jan10 graph hit the peak which shows the 173.3K volume but unfortunately it cant keep it up like before and as we can see the volume lose so much numbers in 9 month , and it goes downward.
Same for monthly the chart keeps downwards on till now , Thats mean users who swap for the first time is decreasing and also that means ETH network is facing the real problem with gathering new users.
In the swap volumes till the may9 we have good numbers but after may9 its downwards badly, the volume which gathered by SUM(AMOUNT_IN_USD) faced the real heartbreaking lose .
Same goes for monthly chart which shown the downward volume, as gathered by counting (AMOUNT_IN_USD), the peak is in Mar1 2022 which users made their first swap reach 3.5T .
Conclusion:
By looking carefully to the charts its obvious that (Ethereum Network) is loosing users day by day (Mostly after May9) , but what cause that?
1-Ethereum Fees Are Too High
2-ETH Losing Ground In Terms Of Value
lets head back to the volumes that give us specific numbers:
Only %8 of users keep transaction for the first time before and in 2022,
only 21.1% of users keep swap their Ethereum before and in 2022
but fortunately 37.8% of users still buy NFT using Ethereum which means Ethereum may have future in NFTs.
*Two above volumes are comprise %8 percentage of users transaction on Ethereum network before and in 2022.
Quick look to Ethereum network: Ethereum is a decentralized blockchain network powered by the Ether token that enables users to make transactions, earn interest on their holdings through staking, use and store nonfungible tokens (NFTs), trade cryptocurrencies, play games, use social media and so much more.
How does it work? Ethereum is essentially a single decentralized system that runs a computer called the Ethereum Virtual Machine (EVM). Each node holds a copy of that computer, meaning that any interactions must be verified so everyone can update their copy.
Ethereum network future: The Ethereum blockchain has seen a surge in popularity in recent months, as developers have used it to construct a slew of decentralized finance projects and NFTs. The emergence of new applications like these — among the first to run on a public blockchain — has already triggered a tremendous network effect, according to advocates, as increased activity attracts more and more developers to Ethereum.
Why is Ethereum used for NFTs?
Ethereum is the leader among other blockchain networks and NFTs were born on the Ethereum blockchain. As a result, NFTs sell for a substantially higher price on average, so creators prefer them over other platforms. +Because of its highly-secure network and data architecture +the Ethereum blockchain leads the decentralized finance (DeFi) market
At the end:
the blockchain provides NFTs with extensive exposure to a large and growing market
The graph keep Descending volume by sum Address in weekly volumes.
Same goes here for daily first bought NFT downwards, volume count by SUM(PRICE_USD) shows that the daily numbers keep losing volume, and the peak was at jan10 2022 which hit the most number of users who bought NFT for the first time.
Same descending volume by PRICE_USD
As we can see the graph which Sum by Address shows that volume keep going downward from jan17 2022 which hit the peak .
37.8% of people who bought NFTs before 2022 keeps buying it in 2022 too, as we can see its nice volume in NFTs for ETH network which means users trust mostly in ETH for buying NFTs, ETH network can be nice environment for buying NFT in future.
In first bought (NFT) charts shown that volumes losses millions after may2 which means new users are not interesting to buy NFT in ETH.
Same descending volume by DISTINCT BUYER-ADDRESS
Methodology:
We will check the amount of fixed users from the beginning of the year until now by reviewing the data and graphs.
(users who use the ETH network for the first time)
(Users who made their first transaction in ETH network)
(Users who swap for the first time)
Discord: Badboy#2444
Thanks for reading
Content:
Users who:
1-Transaction for the first time on ETH network
2-Made their first swap
3-NFT marketplace activity