Try Quests to earn NEARINTRODUCTION
WHAT IS NEAR?
NEAR Protocol is a decentralized platform where developers can host server less applications and smart contracts which have easy access to open finance networks and benefit from an ecosystem of open web components. Unlike other blockchain-based platforms, the NEAR Protocol has been built from the ground up to be the easiest in the world for both developers and their end-users.
It is a cryptocurrency launched in 2020. NEAR Protocol has a current supply of 1,000,000,000 with 842,195,719 in circulation. The last known price of NEAR Protocol is 1.5949618 USD and is down -2.90 over the last 24 hours. It is currently trading on 207 active market(s) with $45,750,670.83 traded over the last 24 hours. More information can be found at https://near.org/.
What Is Solana (SOL)?
Solana is a blockchain platform designed to host decentralized, scalable applications. Founded in 2017, it is an open-source project currently run by Solana Foundation based in Geneva, while the blockchain was built by San Francisco-based Solana Labs.1
Solana is much faster in terms of the number of transactions it can process and has significantly lower transaction fees than rival blockchains like Ethereum. The cryptocurrency that runs on the Solana blockchain—also named Solana (SOLUSD) and using the ticker symbol SOL—soared almost 12,000% in 2021 and at one point had a market capitalization of over $66 billion, making it the fifth-largest cryptocurrency by this measure at the time.2
Despite its popularity, SOL did not escape the cryptocurrency bloodbath of 2022. By Oct. 3, 2022, SOL had dropped to about $11.71 billion in market capitalization. It also fell to ninth place in market capitalization
INTRODUCTION OF FTT
FTT is one of the many innovative products listed on the FTX exchange, and perhaps the most important. Like other popular instruments such as Bitcoin, FTT has value, can be traded, and is used for financial transactions.
Sometimes experts also refer to FTT as "one of the ERC20 tokens". ERC20 tokens are digital coins that do not operate on their own blockchain: they are issued on the Ethereum network. Short for "Ethereum Request for Comments, number 20", the classification defines the technical standards for tokens that must be stored in a compatible wallet. Luckily, ERC20 is so popular that you are unlikely to have any trouble using FTT.
To maintain the value of FTT, the FTX exchange regularly buys back and burns its tokens. To do this, she buys FTX tokens for 33% of the trading fees generated on her platform, including 10% of the backup fund and 5% of miscellaneous fees Источник:
ABOUT MY DASHBOARD
Welcome to my dashboard .We all know how CYPTOWORLD is detoriating day by day ‘.There is a huge impact of downfall of FTX . NEAR is no exception to it'. The mishap that occured due to collapse of FTX is beyond explaination . In this dashboard we will be discussing NEAR VS SOLANA so that we can better understand NEAR.
We will be discussing the downfall of FTX and the reason behind it . \We will be analyzing about staking and unstaking activities of these two blockchains in terms of number ,volume , user counts of staked & unstaked NEAR & SOLANA .We will also observe NFT sales & sellers. We will use the block period from 2022-11-07' to '2022-12-16'
WHAT HAPPENED ON FTX ?
Although the chief executive of FTX has said that everything is fine on Monday, The company has announced the bankruptcy of FTX on Friday.
FTX’s collapse has destabilized the crypto industry, which was already reeling from a crash in the spring that drained $1 trillion from the market. The prices of the leading cryptocurrencies, Bitcoin and Ether, have plummeted. The crypto lender BlockFi, which was closely entangled with FTX, announced on Thursday that it was suspending operations as a result of FTX’s collapse.
The speed of FTX’s downfall has left crypto insiders stunned. Now, the bankruptcy has set up a rush among investors and customers to salvage funds from what remains of FTX. A surge of customers tried to withdraw funds from the platform this week, and the company couldn’t meet the demand. The exchange owes as much as $8 billion, according to people familiar with its finances. What we will be checking is that how the user did cope at this week.
NEAR and SOLANA was no exception of this downfall and as we will see the affects of FTT insolvency later on this dashboard.
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DAILY COUNT OF STAKE, STAKERS AND AMOUNT
UNSTAKED NEAR & SOLANA
ANALYSIS
When we compare the unstakers to stakers we start to understand that the market downfall is logical for the next few days for SOLANA but for NEAR is on its peak, , It may be the end of the story for Solana and a begining for Near.
We can see the higher count of unstakes to stakes for Solana, the amount of unstakes would be more too When we look at November 11, we see that the stakers has staked the amount of 20 Million of NEAR on November 11, here we see that there was some unstakers on November 11 who made the 11 November’s stakers job a bit harder but the user who made 20 Million of stake has saved the market of Near despite of Solana until now.
The count of unstakes rises its slope and count for its maximum amount on November 9,10 for SOLANA but for NEAR is not so much unstable.
the share of unstakes between unstakers for SOLANA is so balanced and there is no special unstaker who made the market worse than it is. and this pattern goes for NEAR too.
Due to high amount and count of unstakes for Solana we understand that there was no chance for SOLANA to cope what has come to it, but wew believe ,unlike other chains NEAR has done much better than the others by it’s stakers help on November 11.
what is FTT ?
FTT is a token used on FTX, the global centralized cryptocurrency derivatives exchange. FTT is often referred to as the "backbone" of the FTX exchange and provides many benefits to its holders.
The terms "FTX" and "FTT" are sometimes used interchangeably. By holding FTT tokens, you get lower trading fees and access to many benefits on the FTX exchange. You can also use your tokens as collateral for derivatives trading.
Previously, the cryptocurrency space took notice of FTX because its value skyrocketed in a short amount of time. From less than $4 in December 2020, FTT skyrocketed to a high of $85 in September 2021 before dropping to $2 in November 2022. As of November 9, 2022, the FTT token is currently trading at around $6 and is highly volatile. Similarly, the market value of FTX rose from $400 million to $9 billion over the same period, but then fell back to $312 million.
The growth of FTX is no accident. Analysts believe that rising publicity, strong partnerships, and the launch of new protocols on the FTX exchange have fueled the success of the FTT token, and expect the FTT price trend to continue if the exchange continues to rise over time.
However, in November 2022, Alameda Research's balance sheet was leaked by CoinDesk to heighten concerns about FTX's solvency. On November 8, FTX faced a banking crisis. FTX has suspended withdrawals and has turned to Binance for help to cover the liquidity gap. However, on November 10, it became known that Binance abandoned the deal to acquire FTX.com. Источник:
What is the FTX exchange?
FTX is a centralized cryptocurrency exchange headquartered in the Bahamas. It was founded by Alameda Research and Sam Bankman-Fried. In early 2022, the platform had over a million registered users, billions of dollars in daily trading volume, and users could trade innovative derivative products, many of which were expected to set precedents for the future of cryptocurrency trading. However, as noted above, FTX suspended user withdrawals on November 8, 2022 due to a liquidity crunch and the situation is still being updated.
Since CEO Sam Bankman-Fried launched the platform in 2019, FTX has received funding from leading trading firms. It presents a lot of traded instruments. Источник:
ANALYSIS
The percentage of unstaking to staking action for NEAR is much better than SOLANA and in my opinion the November 11 help made it better for NEAR.
The count of transactions for NEAR is so similar to its amount which shows that users mostly staked and unstaked the same amount as their partner does.
But for SOLANA, we see no hope let’s wait for the coming days to see what will become. The percentage of users for both chains are similar , the majority of the u the stakes are always more than unstakes and that shows the power of a token or a chain but here we see that the November 11 Stakers have saved Near out of this insolvency .
Now Solana stands in a bad situation. Users of NEAR have helped the chain but for Solana users turned their back to it If the unstakers weren’t there we could have saved the SOLANA of this downfall.
ANALYSIS
The number of swaps for Solana is very high,it made the Solana out of this bankruptcy.
The number of transactions for Near is as Normal as before and there is not so much news about it.
The Solana users have saved the chain by swapping instead of staking but they have unstaked a lot of amount from Solana which made the situation worse for Solana.
We see new swappers have joined to save Solana on November 7, 8 and 9 but by the day of bankruptcy announcement wee see that they have stopped joining and the new swappers count went falling.
ANALYSIS
When we take a look at number of stakes for NEAR and SOLANA we understand that the stakers didn’t lose their interest in staking for NEAR because the Stakes & number of staker are high for near then solana .
We can see that NEAR’s situation is much better than SOLANA because numbers against their unstaking form are not as same as before.
Let’s take a look at their staked amount. The total staked amount for NEAR is 23.8 Million and for SOLANA is 269k ,considering the higher price of SOLANA to NEAR, as on November 11 the exact day of insolvency announcement stakers wanted to keep NEAR market remain at its stable price and their try went through a great success, because the FTT insolvency wasn’t greater than their try.
But We could visualize only one user of NEAR has staked the amount of 20 Million between 11/07 to 11/14 which is unbelievable and after that we have another staker who staked the amount of 1.5 Million for NEAR.
For the stakers of SOLANA the number of amount for each one of them is logical and the best staker has staked the amount of 75 thousand.S
CONCLUSIONS
In the end we could say Stakers of Near have saved the Near chain by staking a considerable amount of Near, But the users of Near didn’t really have an interesting method of swapping and their swap stats are stable.
For Solana we see that users have unstaked a lot of amount out of Solana’s chain ,we see the number of swaps, made solana to keep going on , So the unstakes was not an end to Solana chain. NEAR is in much better position than SOLANA We can just hope for a bright future of NEAR in the coming future.