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- Surly the price vibration of different tokens affect the number of swaps that happen around it and in this case we take a look at the ETH swaps.
- In the left we have the number of swapper along side the daily price of ETH on Oct 26th with the ETH prices going up the number of swappers also increase.
- Same thing happens when the prices begin to drop on Nov 7th. Nov 7th is the same day that the market of crypto changed forever with the chaos that FTX collapse brought on us.
- If you take a closer look at the price trend you notice that every time a drop or rise is about to happen number of swappers, volume and swaps increase alike.
- Right on Nov 7th with the beginning of the ETH price drop we see the Volume and Swaps number begin to rise due to people trying to save their money from great loss.
- The swap sizes are distributed in two forms here first we have them in the volume sizes on the left and than we have the swap sizes distributed in percentage on the right.
- With a simple look at either volume or percentage form of swap distribution we see that a bigger amount of swaps happened with a $100-$1k worth of volume.
- On the insolvency day we can see 39.1% of the swaps were between $100 and $1k which is 44.9k worth of volume.
- The lowest portion of the swaps were the less than $10 swaps that concluded 5.3% of the whole swaps size of that day.(around 6.1k)
- Beside this info on the lower row of graphs we have the amount of swaps that happened around ETH and their volumes.
- On Nov 7th 54.3k users bought ETH and on the same day 68.1k users sold the ETH tokens they had now this might seem semi equal on the surface but volume wise we see that around 28% of the total volume on that day was on buying side and the rest belonged to selling volume. The difference even gets far greater on Nov 10th when the volume of swap reach the peek of the whole volume graph.
- The number of ETH senders from Non miners to CEX heavily over come the other 3 groups by almost 96% of the total number of ETH senders.
- But again the numbers value is way less than the actual volumes that was moved from or to CEX.
- In the Volume graph on top right we see the volume of CEX to non miners is over 1M worth of volume on Nov 10th and the other parameters dont even come close except the non miners to CEX which has 641.2k wirth of volume.
- On the left and final graph of this article we can see the volume of ETH by the senders to their destinations and the highest column is on Nov 9th which the largest portion of it, around 2.35M, belongs to binance.
To conclude the information above:
- We see that Ethereum base token which is called ETH is going through some hard times indeed and the non stop drop of prices of ETH is causing people to move their investments into other platforms.
- Aside from the heavy drop in the number of users who buy or sell ETH tokens and their volume we see that a large number of users moved their ETH to different sectors and two of these sectors are called DEX and CEX that since Sep 24th we saw that these two are the most trusted sectors for those who wanted to move their ETH tokens to stop their investment being destroyed by heavy losses.
- On the final column form right above this text box we see the most trusted project on these sectors is binance and only on Nov 9th 2.3M worth of ETH volume tokens were sent to this project.
- For those who are trying to escape from disasters of the collapse of FTX (which ETH drop in my thoughts are one of them) this is a very safe bet to keep on to your savings and these times will pas and the market is already starting to revive after the loss of FTX. Sure the side effects are massive but these events are not something uncommon in the world of crypto. A simple drop or raise in the prices of the market can bring out catastrophic outcomes but with discipline and thoughtful acting every user can over come the hard times and these articles hopefully will give enough insight for the better acting in the future.
- From Sep 24th to Oct 8th we can see a large number of sector users transferred their tokens to CEX.
- After Oct 9th the number of changes to CEX gets lower every day and we can see the users choosing DAPP over CEX on some days even the lower portion destinations have more changes than the CEX it self.
- For example On Nov 23rd the number of DEX is almost 15% more than CEX.
- In the second row we see the distributed transferred amount of ETH and what is surprising here is that the Less than $10 amount is not actually a big portion of the whole volume and those who actually invested bigger volume of money into ETH were more concerned about their savings and Nov 23rd first we have $10-$100 in the first position with 28.7 percent of transferred ETH and on the second place we have $100-$1k transfers that conclude 23.4% of the whole transactions.
Ethereum: The World Computer
Ethereum is a decentralized, open source, and distributed computing platform that enables the creation of smart contracts and decentralized applications, also known as dapps.
Smart contracts are computer protocols that facilitate, verify, or enforce the negotiation and performance of some sort of agreement. For instance, a smart contract could be used to represent a legal contract emulating the logic of contractual clauses or a financial contract specifying responsibilities of the counterparts and automated flows of value.
A smart contract is pretty much exactly what you think it would be: it’s an auto-executing, programmed agreement that is recorded on the Ethereum blockchain. It operates based upon an if, then logic, so that if x action happens, then y action occurs. Here’s a helpful definition from the Ethereum Foundation:
> “Smart contracts are applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.”
Let’s break down what all that means: \n
- Downtime: the applications never shut down unexpectedly and can never be switched off.
- Censorship: Ethereum nodes (computers running the protocol) are distributed around the world eliminating censorship from a central authority.
- Fraud: the contract cannot be changed, hacked, or manipulated.
- Third parties: the contract self-executes and therefore does not require an intermediary.
Methodology
- The following tables were used to make this dashboard: 1-crosschain.core.fact_hourly_prices 2-crosschain.core.dim_asset_metadata
3-ethereum.core.fact_hourly_token_prices 4-osmosis.core.dim_prices 5-solana.core.fact_token_prices_hourly 6-algorand.defi.ez_price_pool_balances
7-ethereum.core.ez_dex_swaps 8-ethereum.core.dim_labels 9-ethereum.core.ez_eth_transfers
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All the data of this dashboard is from the last 60 days until today.
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The codes are copied from the following links:
FTX hacker is now the 35th largest holder of ETH
The hacker that exploited the now-bankrupt FTX exchange last week made a tidy fortune that has propelled them to Ether whale status.
Just a day after the embattled FTX exchange filed for Chapter 11 bankruptcy, its wallets were drained for more than $663 million in various crypto assets, according to blockchain intelligence company Elliptic.
Elliptic suspected $477 million of this was stolen, with a large chunk of those tokens being then converted into ETH, while $186 million worth of more than a hundred different tokens was believed to be moved into secure storage by FTX itself.
As reported by Cointelegraph on Nov. 15, the attacker was still draining wallets four days later in what analysts called “on-chain spoofing.”
According to blockchain security firm Beosin, the attacker has conducted multiple swaps and cross-chain transactions over the past day and currently holds around $338 million in crypto assets as of Nov. 15.
Included is a whopping 228,523 ETH, according to the wallet address, worth around $288.8 million at current market prices.
This makes the account dubbed the “FTX Accounts Drainer” the 35th largest Ethereum holder in terms of the number of ETH held.
According to CoinCarp’s Ethereum rich list, the top holder is the Beacon Chain deposit contract which contains around 15 million ETH. Furthermore, most of those in the top 20 are crypto exchanges, layer-2 protocols and decentralized finance (DeFi) bridges.
The top 20 ETH wallets hold 27.7% of the entire circulating supply and the top 50 hold a third of all ETH.
The exploits occurred on both FTX and FTX.US, leading many to speculate that it could have been an inside job. Director of security operations at analytics firm Certik, Hugh Brooks, alluded to on-chain evidence suggesting such. He told Cointelegraph on Nov. 15 that unless there was a private key compromise, an insider with access to these wallets moving the funds cannot be ruled out.
- Top market price changes are listed in the image bellow. You can turn on and off different prices by clicking on them.
- The most increase price belongs to doge on Nov 1st, 2022 and the most drop is for sol on Nov 22nd.
- There are a lot of price changes in between Sep 25th and Nov 23rd and most of them are negative because you can see the lines go bellow zero more often than above it.
- In this page we mostly try to focus on the drop of Ethereum and therefore we have the today price of it compared with is daily average of the past and the average token price in the bottom graphs.
- In the bottom right vision we can see the similarity between ETH and other token prices and at the end of 23rd of Nov the ETH price is a little bit higher than other tokens.