Swap Increase on May 11 + 12

On May 11th and 12th we saw a spike in number of swaps and volume across the DEXs. in this dashboard we look into the details of these swaps such as what assets were swapped from and to and the amount of assets that were swapped and number of unique users swapping their assets and try to find out what could have caused these spikes.

Methodology

for finding the number and amount of swaps and average size of the swaps and also average price of Algo, the prices_swap table has been used.
for looking at the assets that were swapped to and from and also number and amount of Algo swapped from, we looked at the swaps table.

in the chart above we see that even though may 9th, 10th and 13th have higher number of swaps than the days before and after in may, the major spike are on may 11th and 12th.

now let's look at the characteristics of these swaps. first let's look at the amount of assets swapped in USD and compare it with other days in may 2022.

the chart above shows the amount of assets in usd in the swaps on each day in may 2022. in this chart we see three major spikes that the biggest one isn't on any of the days we were investigating. however, the other two are on may 11th and may 12th which tells us the average amount per swap did not change much on these days since the number f swaps had increased similarly.

but in case of the biggest spike which is on may 27th, the number of swaps i the first chart doesn't seem to be much higher than the average and this tells us that the average amount of swaps must have been much higher on may 27th.

the interesting thing about the chart above is how the amount of assets swapped is so high on may 27th.

after looking into it, we realized that the majority of the swapped amount on may 27th is an asset named Infinity of Anarchy which was swapped for the first time on may 27th. by looking further we realized that this asset was created on may 27th and the supply amount for it is 1 billion tokens

the table above shows the assets that users swapped from along side the amount of the assets swapped and number of swaps to cover these amounts. the data has been limited to may 11th and 12th. there are 825 different assets. however, only 307 of them have been swapped from, at least 10 times. the assets that was most swapped from is Algo and the asset that has the highest amount swapped from is ELO INU. during the two mentioned days the average price of ELO INU is 8.335664065 * e-17 which is incredibly low and this explains why the number of ELO INU swapped is so high.

now let's look at the list of assets that users swapped to.

the table above shows the assets that users swapped to along side the amount of these assets that were swapped to and number of swaps made to each of these assets. there is a total of 751 assets and 340 assets that swaps were made to them at least 10 times. Algo is the assets that users have swapped to the most. same as the table before, ELO INU is the asset that has the highest amount in swaps from other assets to it. ofcourse this is because of the low value of this asset.

now let's look at the assets that were swapped to from Algo.

Approach

in order to find the stable coins in Algorand we looked at average price of all assets and chose those that had an average price between 0.9 and 1.1 usd dollar since the stable coins are valued at 1 dollar and yet with ups and downs, sometimes they go a little over or under. for a better understanding of the swaps data, all the other swaps that were made to other assets has been shown in a separate column. also for better readability, the charts have been shown in LOG Scale.

in the chart above we can see the number of swaps from Algo to other stable coins and also the number of swaps from algo to assets that are not stable coins. the chart above shows us that more than 62 percent of the swaps which is more than 240 thousand of them, are to none stable coin assets. it also shows us that STBL, Tether USDT and USDC hold more than 37.5 percent of the swaps and are the most popular stable coins to swap to from Algo.

now let's look at the amount of Algo that was swapped for these stable coins.

based on the amount of Algo swapped, the none stable coin assets do not have the biggest share in the chart above. in this chart we see that most of the Algo that was swapped, they were swapped for USDC (almost 70 percent of all of the Algo which is almost 79 million Algos). after USDC, the most Algo was swapped for none stable coin assets and then STBL and after that Tether USDT.

next, we look at the average size of the swaps on each day in may to see if there is a noticeable change on may 11th and may 12th.

the chart above shows the average size of swaps which confirms our conclusions of observations of the first two charts we presented in this dashboard. by looking at the number of swaps and amount of assets swapped we could see that the average size of swaps was not much different on may 11th and 12th but much higher on may 27th.

now let's check out the price of Algo to see if it is related to every thing we've seen so far.

the chart above shows the average price of Algo on each day.

as you can see, the price starts to fall on may 8th and keeps on dropping untill may 12th. after few days of dropping, it seems that users have decided to burn their Algos on may 11th and 12th. on may 13th, the price starts to go up again which gets users to stop burning their Algos.

first let's look into the spikes and see them for ourselves.

next we look at the assets that users swapped from.

Conclusion