LINK-USDC pool on UniswapV3
Uniswap has undergone several changes since its inception, each with its own unique features and functions. Among all the versions, Uniswap V3 stands out as the most user-friendly and efficient. While keeping up with these changes may be overwhelming for some users, the benefits of using Uniswap for decentralized exchange (DEX) trading on the Ethereum blockchain make it worth the effort. The platform's primary function is to facilitate the seamless and secure trading of fungible ERC20 tokens, making it a valuable tool for anyone involved in the cryptocurrency market. With Uniswap V3, users can experience the full benefits of decentralized finance (DeFi) without the need for an intermediary. Overall, Uniswap V3 provides a simple yet highly effective environment for trading on a blockchain-based market.
For the purpose of this analysis, we will be utilizing the ethereum.uniswapv3.ez_swaps. The primary filter condition we will be using to narrow down our search results is to ensure that the contract_address matches the specific value 0xfad57d2039c21811c8f2b5d5b65308aa99d31559.
Additionally, for a more accurate and relevant analysis, we will be implementing a secondary filter that limits data to only the past week, calculated by subtracting 7 days from the current date. In this way, we can extract more up-to-date information and ensure that our analysis is based on the most recent data available. By utilizing these filters, we can achieve a more refined and focused dataset that will help us to gain insights into our targeted area of interest.
Based on the charts, it is observed that over the past 7 days, there has been a significant decrease in the number of transactions on the platform. Starting from April 26, the transaction count dropped from over 60 to 40 on April 27 and continued to decline in the following days. Currently, the platform is experiencing less than 20 transactions per day.
Likewise, a similar trend is observed in the trading volume, which saw a drop from over $40,000 on April 26 to just above $20,000 on April 27. The decline continued in the following days.
The number of swappers also followed a similar pattern, with a decrease to less than 10 for most of the 7-day period.
Based on the observed charts, it can be concluded that the number of transactions in USDC to LINK swap is greater than LINK to USDC swap. Specifically, USDC to LINK transactions accounted for 51.45% with 124 transactions, while LINK to USDC transactions accounted for 48.55% with 117 transactions.
Similarly, USDC to LINK swap has a bigger trade volume of around $71K, accounting for 53.73% of all swaps done, whereas LINK to USDC accounted for 46.27% of swap volume with $61.2K.
However, despite having more transactions and larger trade volume, USDC to LINK swap had a smaller number of swappers, with only 14 swappers accounting for 48.28% of all swappers. In contrast, LINK to USDC accounted for 51.72% of all swappers with 15 swappers and a smaller transaction volume.
In summary, it can be concluded that while USDC to LINK swap has had more transactions and a larger trade volume than LINK to USDC swap, it had fewer swappers than LINK to USDC swap.
Based on the analysis of the charts for the past seven days, it is observed that the overall trend shows a significant decline in the number of transactions, trading volume, and the number of swappers on the platform.
While looking at the different types of swaps, it is noticed that the USDC to LINK swap has more transactions and a larger trade volume than the LINK to USDC swap. However, the USDC to LINK swap had fewer swappers than the LINK to USDC swap.
In a nutshell, the platform has experienced a downward trend over the past seven days, with the USDC to LINK swap being more popular among traders. It is important to keep an eye on the trend for the upcoming period to understand if this is just a short-term fluctuation or a long-term trend.