Does Time of Day Affect Price? (Algorand Bounties)

Crypto does not follow a 9-5 schedule, but some traders may take advantage of different time zones. Using the Prices Swap table is there an hour (or hours) of the day that more frequently exceeds or falls short of the average of the day. Find the top 10 assets that are swapped to, then use the prices swap table to see if the hour of the day has an affect on the price Create a visualization that shows the impact on price based on hour of the day

Introduction

Silvio Micali, an MIT professor, founded Algorand in 2017. Algorand is made up of a corporation and a foundation. The Algorand Foundation oversees ecosystem development, prize financing, cryptographic research primitives, on-chain governance, and the decentralization of the Algorand network, which includes nodes. Algorand Inc., a private organization situated in Boston, oversees the basic development of the Algorand protocol.

Method

In this dashboard, I used the algorand.asset_transfer_transaction table to find all transactions on the Algorand chain and algorand.asset to find the names of assets that users have had interactions with.

Analysis

Observation

The above graph depicts the top ten Algorand assets in terms of swaps. LC Blitz Ranking has the most swaps (more than 14.5M) , followed by PLANET (13.68M).

Surprisingly, stablecoins account for three of the top ten assets (USDC, USDT, and STBL)

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The aims of dashboard:

Find the top 10 assets that are swapped to.
See if the hour of the day has an effect on the price.
Create a visualization that shows the impact on price based on hour of the day.

The graphs show the average number of users by hour of the day for the top ten assets.
Obviously, USDT has the highest daily volume, followed by PELANET and Yieldly.

This graph depicts, over the course of the between '2022-05-14 00:00:00.000' and '2022-05-15 01:00:00.000' , the hourly average price of each token.

Since there is not a major difference in the pricing depending on the hour, we are going to condense this diagram even further in the next section.

Overview

These graphs show the percentage difference between the average price of each asset and the average price of all of the assets.

From 1 a.m. to noon, prices fell significantly over their average, reaching a low of 2 p.m. from the data. There was a gradual rise in prices after that until 10 p.m., when they reached their peak level.

On a daily basis we may infer that investors buy assets about midday and sell them around midnight.

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