GROUNDHOG DAY IN CRYPTO

In crypto world should we expect six more weeks of winter, or will spring come early this year? , and we’ll all find out on Groundhog Day.

Superstitions can also be found among investors trying to predict the often unpredictable markets. In honor of Groundhog Day, we take a look at some of the most common investor superstitions that claim to foretell market fluctuations, just as the groundhog’s shadow will supposedly foretell the weather.er

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INTRODUCTION- WHAT IS A GROUNDHOG DAY ?

GROUNDHOG DAY is a popular North American tradition observed in the United States and Canada on February 2. According to tradition, if the clouds prevent the groundhog from seeing its shadow on February 2nd, it will come out of its winter-time burrow to herald the beginning of spring. However, if the groundhog can see its shadow, it will return to its burrow — and we’ll all be condemned to another six weeks of wintIt isn’t just weather enthusiasts who develop superstitions.

CONCLUSION

Activity has been somewhat low on these platforms which means we might stay in this crypto winter for a little longer before we see some miracles.

Without a doubt, groundhog day will come to an end sooner or later. The global climate still looks promising and with a recession ahead , risks remain on the downside. , finally Bitcoin has never disappointed us over the medium to long-term.

ETH is likely on the rise at least in the short term, although we do not know what is there in the future . ETH has a good chance to continue upward into the future and break out of this crypto winter. We have analysed ETHEREUM ‘s DEX volume which was low before NEW YEAR BUT AFTER January signs are promising for Ethereum DEX activities .Sol has bottomed in price after suffering massive loss in value from GREAT FTX CRASH , But we can also pray for its better future as there is a positive news also that google had recently bought a large some of Sol and is working with them

It seems like the BTC awaits positive future outcomes .it seems like good progress in the direction of a crypto spring ,although we need to wait till future .THE JANUARY GRAPH ITSELF IS VERY PROMISING FOR OPTIMISM .It WILL NOT FACE THE COLD WINTERS AGAIN & WILL VERY SOON SEE A BRIGHT SUNNY DAY PROVIDED THE MARKET DOESN’T FACE ANY UNPREDICTABLE CIRCUMSTANCES .

Overall the graphs are not promising but still we need to patiently wait for the unpredictable trend of this market as it may touch sky anytime as before .The data’s of some chains have started proving this .For me the trends & symptoms are positive & I believe it will turn into gold very soon.

Maybe the lesson here is the same as the one from the actual movie ‘Groundhog Day’: the endless repetition of the same day only ended once the main character Bill Murray had become a truly better person. Now isn’t that a great inspiration for us all to become better traders?

SOLANA

BITCOIN

ETHEREUM

optimism

ANALYSIS OF DIFFERENT CHAINS ON DIFFERENT METRICS

DEX VOL;UME OF ETHERUM

ANALYSIS

We have analysed ETHEREUM ‘s DEX volume on the above charts for 90 days & can see the graph is falling down for VOLUME OF DEX . Highest number of swappers were found on 9th & 10th NOVEMBER and after that Swappers count was found high in January on 14th & 16th January , & except these days the graph is pity low . We can conclude that trading activities namely -buying & selling , were low in December but in January the graph is satisfactory giving hopes for the future. Number of swaps were high on CURVE followed by UNISWAP and SYNTHETIX is lowest ..There is no remarkable swap activities with major spikes & dips & the graph is a stable one . .

ANALYSIS

Moving average price is constantly falling showing low price . OBV was high on 9th & 10th November with 21B & 26B volume but before that the volume was not so high .The more volume IN January indicates a bullish trend ahead which is a positive sign for the growth of Ethereum . Highest median price was on September 11 and after that the price was a constant one till 23rd OCTOBER . The median price was constantly high till Ist week of NOVEMBER 2022 , after that the condition started detoriating , may be due to THE GREAT COLLAPSE IN NOVEMBER . After DECEMBER 17 ,THE PRICE RISE IS SHOWING A RAY OF HOPE FOR THE FUTURE . Price graph is showing rise during October end & November starting but after that price was low . In new year we can again see a rise in price which might help GROUNDHOG to come out again IN THE SPRING.

ANALYSIS

Daily OBV of SOLANA is not a promising one till the beginning of DECEMBER 2022 ,but year end was good enough to increase the buying & selling activity which in turn is responsible for the rise in price . The price of Sol is at constant fall which is creating doubts for its coming future the moving price & the price are all very low showing a bearish pattern which is not good for the platform SOL WAS HIGHEST, IN APRIL in last year , & are still waiting for that time to come . SOLANA IS NOT COMING OUT OF THE COLD WINTER

ANALYSIS

For BTC the trend is bullish after November especially, on 25th NOVEMBER . The rising OBV indicates more trading activities which means rise in price due to buying & selling . Moving average price is showing a favourable sign ,but this growth may not be constant ,as the dark history is not allowing the users to believe on it completely . The histogram MACD is progressive showing increment in current days. It is good for short term trading as we can see now & hope it remains same in the coming future .

ANALYSIS

When we analyse the above graphs we can see that users and transactions & even the gas fees have increased from previous year which is a positive news . Although it is too early to predict, but when we compare previous year with current period we can confirm this . The moving average graph remains consistent throughout so we can say that growth is not short-lived. Rise in active users count is from 19k in mid October to 76k in mid January 2023 & highest being more than 111k on December 21 ,which is a positive sign. Number of transaction has become bullish with 800k transaction in JANUARY 2023 , highest in last 90 days THE JANUARY GRAPH ITSELF IS VERY PROMISING FOR OPTIMISM .IT WILL NOT FACE THE COLD WINTERS AGAIN & WILL VERY SOON SEE A BRIGHT SUNNY DAY PROVIDED THE MARKET DOESN’T FACE ANY UNPREDICTABLE CIRCUMSTANCES .

ANALYSIS

When we analyse weekly transaction count for these chains they are rising but at a very slow pace . The market has experienced this before also ,they have faced such ups & downs many times

In terms of transaction count . SOLANA IS THE WINNER with highest number of transaction in first week of January with 289M , followed by Ethereum with 7.22M . OSMOSIS is also growing fast in terms of transaction count . New users were highest on ETHEREUM with 1,1M COUNT and after that the graph started falling for all showing that the market is not able to attract new users the conditions have been risky in the past for these chains The users have lost users faith from crypto market after the great crash of TERRA IN MAY 2022 near & optimism are becoming strong pillars for market upliftment.

METHOD

This dashboard is to discuss about the current scenario of the crypto world, whether we will come, out from cold winters and face a new spring . For this we have analysed various chains with various parameters with a different time frame for each sections ,for a better understanding . We have picked random chains with random parameters & observed their transaction count, new & existing users ,moving average price, daily OBV& MACD HISTOGRAM DEX’s swap on Ethereum .we have discussed about ETHEREUM SOLANA, BTC & OPTIMISM lastly we have discussed about users new users and transactions for OSMOSIS, SOLANA ETHEREUM NEAR & OPTIMISM .

FOR THIS WE HAVE USED FLIPSIDE TABLES :-

optimism.core.fact_transactions

osmosis.core.fact_transactions

near.core.fact_transactions

optimism.core.fact_transactions

ethereum.core.fact_hourly_token_prices

ethereum.core.ez_dex_swaps

solana.core.fact_token_prices_hourly

solana.core.fact_swaps