What Will You Read?

In This analysis, You Will Read about SCRT. Do major news events result in more people swapping to SCRT? I Looked at the volume of swaps to SCRT over the past three months. Do periods of high volume swaps into SCRT line up with major international news events? Or is there a pattern in SCRT swap volume?

What is SCRT?

Secret Token (SCRT) is the native coin of Secret Network. It is similar to Monero (XMR), Dash (DASH), and other privacy coins in that the recipient, balance, and transaction amount can be encrypted. The programmable privacy provided by Secret Network ensures anonymity and confidentiality.

Method

I used osmosis.core.fact_swaps table and calculated total swaps, total unique trader, and the total amount of swaps.

May 24th: SCRT Listing on Kucoin Exchange

Major News

May 10th: New Updates on SCRT

March 29th and 30th: Listing on Okcoin and Kraken:

March 20th: StakeEasy announced enable staking of SCRT on their Mainnet

The below chart shows the total daily swaps to $SCRT. As you can see, the most swaps happened at the end of March. Was any big news then? We know that staking SCRT caused too many airdrops. StakeEasy announced SCRT staking on their mainnet. I don't think that caused increases in SCRT swaps. We have another news in that month that SCRT listed on Okcoin and Kraken. Whatever it was, caused by Swaps. After that time, total swaps decreased. On May 10th, SCRT announced new updates in their Network, including cross-chain Airdrops. Total swaps increased a little in comparison to other days. It seems the Kucoin listing didn't impact on swaps.

This graph shows the total unique users. All Trends were like the previous chart.

Let's examine the total amounts that users got from swaps. Those events that caused an increase in Total swaps, didn't impact so much on amounts. A huge trend happened from May 9th that total amounts increased to above 1M SCRT. The only news at that time was Secret new updates. Maybe Cross-chain caused some users made a large amount of SCRT to be whitelisted on those Airdrops.

Conclusion

Some Events interested to Fish users, and some events interested to Whale users. Some news was interesting to Trader, and some news interested to new users. Whatever it is each event can impact user activities.

Thank You For Reading!

Written by Hess

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discord_id: hess#0890

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twitter_id: @hessaminanloo