BTC Vs. Sol Prices

Conclusion

The below chart shows Btc and sol prices. As you can see, hourly, BTC, and Sol prices dropped. The Sol price followed BTC prices dropped. Both tokens faced a 30% drop only in three days. A huge drop happened, and it wasn't a normal drop.

The below chart shows the total daily swaps during the BTC and sol dropped. The hourly swaps increased, followed by the BTC price decrease. The hourly swaps approach to above 200K.

These tokens are in the top 10 tokens that users swapped from. With 9.5M swaps, USD has the highest number of swaps among the other tokens. It means users used USD to buy other tokens when they faced a huge drop. The second one is Sol users tried to sell it. Sol was in one side of 6.5M swaps.

The below chart shows the top 10 tokens that were swapped from an hourly time frame. Then BTC prices started to drop, and Sol and USD token swaps increased hourly.

The below chart shows the top 10 tokens that were swapped to by users during the drop. The first token was a wrapped sol that was used to swap. It means users tried to buy that token with 5M swaps. The second one was USD which users prefer to stable their amounts.

In this chart, you can see above the top 10 tokens in the hourly time frame. You can see how wrapped Sol and USD swaps increased during the drop.

We faced two types of users. Those who tried to buy tokens at the lowest price in the last year and those who tried to sell their tokens and save their amounts. The interesting thing was StableCoins. Almost in the past drops, Users started to buy stablecoins with their tokens. But I think after UST deppeg on May, Users can't trust to StabeCoins, and they changed their ways and prefer other tokens in comparison to stablecoins.

Thank You For Reading!

Written By Hess

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twitter_id: @hessaminanloo