Overview

what we aim to provide here :

• Volume:

  1. sales Volume over Time (USD)
  2. Cumulative Volume Over Time (USD)

• Platform Fee

  1. Fee amounts over Time (USD)
  2. cumulative Fe amounts over Time (USD)

• Collections

  1. Top 5 collection By Volume (USD)
  2. daily Top collection by Volume (USD)

• Sales Size distribution

  1. daily sales size distribution
  2. daily average, median and dispersion of sales size

• Platform Demographic

  1. users Demographic

Introduction

• what is OpenSea?

  OpenSea is a global marketplace for buying and selling NFTs. In OpenSea, you can buy and sell and exchange all these tokens with people around the world. It is currently the largest decentralized marketplace for digital goods.

• Which chains OpenSea Support?

  OpenSea offers cross-blockchain support across the Ethereum, Polygon, Klatyn, and Solana blockchains

• since when OpenSea start supporting solana?

  Beginning in Mar 2022, users can use solana to create, buy and sell NFTs

Method

I used solana.core.fact_nft_sales table To get OpenSea transaction information on solana and for Ethereum the table was ethereum.core.ez_nft_sales.

All the Volumes and numbers are in USD.

I chose ‘2022-03-28’ as starting date for all analyzes here. This date is the start date of OpenSea support for Solana, and I chose it for the reason that we have a fair and equal comparison.

I put together all the data related to these two networks in OpenSea and my observational approach will be based on the comparison of the two.

my observation will be base on weekly Timeframe but you change the timeframe on the above of the dashboard

rules for demography (all number are in USD):

when BALANCE <= 10 then 'shrimp'

when BALANCE > 10 and BALANCE <= 100 then 'crab'

when BALANCE > 100 and BALANCE <= 1000 then 'Octopus'

when BALANCE > 1000 and BALANCE <= 10000 then 'Fish'

when BALANCE > 10000 and BALANCE <= 100000 then 'dolphin'

when BALANCE > 100000 and BALANCE <= 1000000 then 'shark'

when BALANCE > 1000000 then 'whales'

1. Volume

Ethereum

Solana

Observations

Regarding the volume, we definitely see that Ethereum has higher volume values than its competitor, Solana, because the Opensea platform started working with the Ethereum network, and it is the main platform for NFT sales in this network. Because of this main approach, our comparison here will be based on increase or decrease.

On Ethereum side the range of Volume is from 1.14B on Apr 25 week to 99.6M on Aug 29 week (we exclude the last week because it is not ended), on the solana side we can see that the Volume range is from the highest Volume which was 5.75M on May 2 week to only 80K on Aug 15 week. It is interesting that the lowest Volume belongs to the NFT bear market and the highest belongs to the NFT hype.

For Ethereum from the highest to lowest there is 91.3% decrease.

For solana from the highest to lowest there is 98.6% decrease.

So solana Volume decreased higher than Ethereum on OpenSea platform

from this graph we can observe two things:

1. the Total Volume for Ethereum is 8.42B USD, and for solana is 28M USD

But this does not help the comparison much, let's go to the second one

2. If we only consider the values between the Apr 18 week and the week of May 30 and see how many percent the volume has increased during this period, we can get a good understanding of the speed of increase for both chains.

   For Ethereum on the Apr 18 week the Volume was 3.16B USD, and for solana was 2.65M USD.

   For Ethereum on May 30 week the Volume was 6.59B USD, and for solana was 24.32 M USD

   we can see that for Ethereum it was almost 100% increase and for solana it was almost 300% increase

   so we can say that increasing of Volume in solana was faster than Ethereum

But we should not forget that because Solana is new on OpenSea, this increase can be normal

2. Platform Fee

Observations

For Ethereum The highest fee was on Apr 25 week and the lowest was on the Sep 5 week which the last week that is a lot of decrease almost 92.5% (OpenSea income is in a bad situation).

For solana The highest fee was on Mar 2 week and the lowest was on the Aug 15 week there is a lot of decrease here also almost 98.8811%.

Solana decreased harder than Ethereum here also

The Total Fee that solana Users paid to OpenSea is 685K USD and for Ethereum this number is 207.34M USD.

Recently, the slope of this graph has decreased for Solana and is almost zero, while it is not the case for Ethereum, it is true that the upward slope has decreased, but we are still seeing an increase.

Solana

Ethereum

3. Collections

Solana

Observations

here we have the top collection by sales Volume on OpenSea on solana and Ethereum.

On Ethereum side we can see that otherside had the highest Volume with 850M USD almost 2 times higher than the second rank which is moonbirds with 458M USD.

On the other side we have solana, we can see that okay bears had the highest Volume with 14M USD almost 13 times higher than the second rank which is bored ape solana club with 1.35M USD.

The volume values between the top ranks in Ethereum do not differ as much as in Solana

here we have the Top collection Over time, some interesting insight that we can catch from these graphs are:

• the pattern for solana and Ethereum was almost the same, both had some weeks that one collection had the highest Volume by high difference from others, for solana this collection was Okay bear which had the highest Volume by difference from others in four consecutive weeks, and for Ethereum this was otherside with 2 consecutive weeks

  \

• recently we see some new collections that had the highest Volume like monkeverse on Ethereum side, but we can’t see this on solana side

Ethereum

4. Sales Size distribution

Observations

Ethereum: Highest average sale size was on Apr 25 week with 2.9K USD.

              Highest median of sales size was on Apr 25 week with 414 USD. 

Solana : Highest average sale size was on Apr 25 week with 1.6K USD.'

             Highest median of sales size was on Apr 04 week with 283 USD. 

             Most disperse week  was Apr 25 week.

These numbers are not as far apart as we thought, Ethereum numbers just 2 times higher than solana.

Ethereum

Solana

Solana

Ethereum

Observations

some insight that I found in these graphs:

• the sales size with less than $10 are more in solana sales on Opensea
• most weeks the highest share for solana belongs to between $10 and $100, and it is the same for Ethereum
• sales with size greater than $100 on ethereum has a higher share than solana Almost all time

5. Platform Demographic

Ethereum

Solana

Observations

• in Both Ethereum and solana shrimps have the highest number and share, for Ethereum 38.2% of users are shrimp and for solana this number is higher which almost 58% of the users are shrimp.

• There are no whales in solana opensea users unlike the other side which there are 120 whales

• we can conclude that :

  1. on Ethereum side The activity between different categories of users is almost evenly distributed
  2. But in Solana, most of the users activities are related to one or two of categories which are shrimps and crap

Conclusion

• Ethereum : range of Volumes is from 1.14B on Apr 25 week to 99.6M on Aug 29 week
• solana : range of Volumes is from the highest Volume which was 5.75M on May 2 week to only 80K on Aug 15 week
• solana sales Volume decreased higher than Ethereum on OpenSea platform
• the Total Volume for Ethereum is 8.42B USD, and for solana is 28M USD
• increasing of Volume in solana was faster than Ethereum But we should not forget that because Solana is new on OpenSea, this increase can be normal
• The Total Fee that solana Users paid to OpenSea is 685K USD and for Ethereum this number is 207.34M USD.
• Solana decreased harder than Ethereum in Fee amount over Time
• Ethereum : otherside collection had the highest Volume with 850M USD
• solana: okay bears collection had the highest Volume with 14M USD
• The volume values between the top collections in Ethereum do not differ as much as in Solana
• there is one new collection on solana side that can attract Volume
• Ethereum: Highest average sale size was on Apr 25 week with 2.9K USD.
• Solana: Highest average sale size was on Apr 25 week with 1.6K USD.
• The sales size with less than $10 has higher share in solana sales on Opensea
• in Ethereum 35.6% of users are shrimp and for solana this number is higher which is almost 57%
• on Ethereum side The activity between different categories of users is almost evenly distributed
• in Solana, most of the users activities are related to one or two of categories which are shrimps and crap

Twitter: @Reza97396894

Discord: Reza2085#4374

Special thanks to the Flipsidecrypto 🧡

While writing this dashboard, half of my focus was on the freedom of women's rights in my country. #Mahsa_Amini #MahsaAmini #مهسا_امینی

THANK YOU FOR READING!