Try Quests to earn cryptoOP Price vs Swapper Activity
Optimism
Optimism is a layer 2 chain, meaning it functions on top of Ethereum mainnet (layer 1). Transactions take place on Optimism, but the data about transactions get posted to mainnet where they are validated. It’s like driving in a less crowded side street while benefiting from the security of a highway. source
Methods
Tables I used:
optimism.core.fact_hourly_token_prices
optimism.velodrome.ez_swaps
optimism.sushi.ez_swaps
optimism.core.fact_event_logs
symbol = 'OP'
contract_address = '0x4200000000000000000000000000000000000042'
Metrics
Op Price & Price Change
MIN,AVG& MAX Op price
Number of Op Buy & Sell
Number of Op Buyers & Sellers
Volume of Op Buy & Sell
Number of Op Swaps and Op Price
Number of Op Swappers & Op Price
Volume of Op Swaps and Op Price
Thanks for reading
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All data used are from: Flipside Crypto
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My Twitter: Sepehrmhz8
Conclusion
The number of supply and demand, the volume of purchases and sales, and the number of buyers and sellers are the main factors that cause a change in the price of a token, and as you have seen so far, wherever the volume of purchases and the number of buyers is more, the price increases, and wherever the volume of sales is large, Many sellers were created, the price has decreased
Number of Swaps
As you probably know, price fluctuations are one of the distinctive features of the cryptocurrency market, and these fluctuations are formed by purchases and sales, and naturally, the more the number of purchases and sales increases, the more the price fluctuation increases because supply and demand increase.
As you can see, on July 29, a total of nearly 80,000 Op purchases and sales were registered, and on the same day, this currency had a 30% price fluctuation, so we understand that price fluctuations have a direct effect on the number of purchases and sales.
On this day, this cryptocurrency has increased in price by 30%, and for this reason, the number of buyers is more than its sellers
Number of Swappers
It is always the users who direct the price with their purchases and sales, for example, a token project may be in a good state, but if the users intend to sell it, the price of this token will fall, so the users are always the deciding factor.
If we want to check the buyers and sellers on July 29, when the number of purchases and sales reached a record, we will notice a very interesting fact that even though the price grew by 30% on that day and the number of purchases was more than sales, the number of buyers It is less than the sellers, which means that although the number of buyers was small, but with the number of purchases and the volume of purchases, they caused a 30% growth of Token Op.
Another noteworthy point is the increasing number of buyers and sellers, and this shows that traders are interested in buying and selling OP, and their number is increasing day by day.
Volume of Swaps
With the increase in the volume of purchases and sales, the price changes according to the supply and demand, and when the price grows by 30% in one day, it means that the volume of purchases is more, and as you can see in the opposite graph, on July 28, it was close to 22.2 million dollars. OP has been bought and the sales volume was only 3500 dollars, which is a very small volume, and on this day, July 28, the price has grown by nearly 40%, which is a very high figure, and this shows the effect of the volume on the price of a token.