Try Quests to earn crypto2022 Retrospective
Overview
This dashboard explores some key indicators of the health of the Web3 industry during 2022. Specifically, the following metrics are analyzed for the Ethereum blockchain:
- Part 1: Protocol Activity on DEX swaps
- Volume
- Transactions
- Users
- Fees
- Part 2: Mint Activity
- Mints
- Minters
- Fees
- Top Collections
Methodology
The protocols analyzed for the DEX swaps are:
- Uniswap v3
- Uniswap v2
- Balancer
- Synthetix
- Sushiswap
All the balances were obtained from the ez_dex_swaps table from the core schema of the Ethereum blockchain.
All fees are displayed in USD to avoid false tendencies due to price fluctuations of ETH.
The mint data was queried from the ez_nft_mintstable from the core schema of the Ethereum blockchain.
Findings:
During 2022, Uniswap has been the main exchange in volume, followed by Sushiswap.
However, Sushiswap has been decreasing in volume as the year has gone by, while balancer’s volume has been increasing.
Synthetix had some volume spikes on July and August, but they suddenly went back to normal after the Summer.
However, Synthetix is the protocol with the highest USD transacted on average, meaning that huge investors used this exchange.
Findings:
Most Transactions happen on both Uniswap v2 and v3. These two combined have had almost 28M swaps during 2022.
Sushiswap is second with 3.2M swaps. As opposed to the volume, the number of swaps on Sushiswap have not decreased much over time. That means that there is a similar number of users swapping since the beginning of the year, but some of the biggest investors have moved to other protocols.
Balancer has had 576k swaps over the course of 2022, while Synthetix has had 13.8k.
Findings:
Surprisingly, Balancer is the protocol with the largest number of users swapping. During 2022 it has had 87.6k unique users swapping.
That number is much higher than the second one with the highest number (Uniswap v2), which only had 2118 unique swappers.
Synthetix had 1931 unique users, while Sushiswap had 1480 users swapping.
In terms of trends, balancer has had the share majority at almost all times over 2022.
On the other hand, Uniswap is the protocol with the highest daily swapper volatility.
Findings:
Most fees were paid on Uniswap. Only in 2022, 16.7M USD were paid on fees for Uniswap v2 and v3 combined. It is coherent, as this is the protocol with the highest volume.
The average transaction fees are the highest on Synthetix, as the average volume is the highest on this protocol.
However, the lowest transaction fees also belong to this protocol.
However, the highest fees paid happened on Uniswap and Sushiswap.
Finally, the median fees paid per swap are the highest on Synthetix with 1.07USD, while the other four range between 0.32 and 0.49 USD.
Findings:
May 1st was the day with the highest peak in mints. That was because the Otherdeed for Otherside NFT mint began on 30th April at 9 PM ET and the tables timestamps are recorded on UTC time. 55,000 Otherdeed NFTs were available for minting by KYC's wallets. In total, there were 100,000 Otherdeed for Otherside NFTs. The Powerlist (Whitelist) Mint took place on 6th May at 11 AM ET. Right after that, the public sale will start on 7th May at 11 AM ET. Being a very promising collection, there was a high number of NFTs minted on these three days.
During 2022, 650k NFTs and 202 collections were minted. Nevertheless, the number of unique collections minted has been decreasing progressively over time.
On the other hand, amongst the 214k minters in total, there was an event minter rate over the year.
8.35M USD were paid on mint fees, with an average of 9.04 USD/mint.
The highest fees paid for a mint were 156.3k USD, but usually this value is lower than 1k USD on a daily basis.
The lowest fee paid on a mint was 0 USD.
The median fees paid have been similar throughout the year, meaning that the number of fees paid over and below 0.00975 USD have been similar throughout the year.
Findings:
The top collections by number of mints have been raidparty and the Otherside.
However, most of the volume amongst the top 10 collections that were minted for the most was spent on the Otherside. It is a rare case to see a collection have a very high mint price (2.5 ETH which were about 6k USD on the mint date), and still have so many NFTs minted.
It is no surprise that the majority of fees paid on mints belong to this collection with a 77.9% share.
NFTFI is second with a 20.8% share. Nevertheless, 73.2% of all the highest fees paid amongst the top 10 collections belong to the latter.