Try Quests to earn cryptoETH Merge: Selling Event?
Introduction
Ethereum is moving to a consensus mechanism called the ( PoS ) participation test from the test work ( PoW ). This has always been the plan, as it is a key part of the community's strategy to scale Ethereum through the updates. However, getting a correct PoS is a great technical challenge and it is not as simple as using PoW to reach consensus across the network. Link
Method
In the current dashboard I tried to track the Ethereum users on September, 2022, as the merge event’s month.
So, I used ethereum.core.ez_dex_swaps and ethereum.core.ez_eth_transfers tables to find the swaps transactions on dexs and ETH transferred to cexs over Sep before and after the merge event.
Also separated all assessed metrics by BLOCK_NUMBER = 15537351 as the merge block number.
and tracked the miners turnover of the ETH on Sep to find what they did affected by the merge event.
✍🏻 Conclusion
As can be seen in the charts there were no significant relationship between the merge event and selling actions of Ethereum users. the price chart shows that the cryptocurrency market are in a bear state and we know that the event can’t change the trends on markets.
In September 2022, more occurrences against growing prices could accelerate a bear market. The FOMC statement led to the Fed's interest rate statement, which affected markets.
But I think that Vitalk Buterin and the Ethereum foundation’s team intentionally have choose this month to migrate to the POS consensus, because as we have seen, the lower congestion of transactions on the bear market helped the successful migration to the POS consensus.
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About:
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Author: HaM☰d
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Discord: 0xHaM☰d#8391
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Twitter: @arjmandi_hamed
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Email: h_arjmandi2012@yahoo.com
Was the Merge a selling event? Why or why not?
The aims of dashboard:
Assessing the Sell & Buy tx count and transferred volume over Sep.
Were miners the source of sell pressure? Show any wallets miners have transferred ETH into, along with any other visualizations you think will add to your analysis.
Hey there 👋!
Firstly, I appreciate you sticking with it until the conclusion.
I’m Hamed, Ph.D. In Civil Engineering and interested in data science.
I've made many similar dashboards and visualizations since I started at Flipside in January.
Please have a look at my various contact information and let me know what you think.
:telescope: Findings:
In the current section the user behavior on dexs, over the September as of the merge event’s month have depicted.
As of shown charts the count of swaps transactions to sell the ETH on dexs after the merge have rose in more acceleration rather than buy transactions the ETH.
The sold ETH volume, on Sep 16st, the day after the merge experienced the most level of its, with $5.65m.
:telescope: Findings:
As shown in the charts in this section, the wallets into which miners have transferred the most ETH during the month of the merge event have been dex and cex.
In the first two charts, the destinations of wallets miners have transferred ETH into are shown, and it's observable that Binance, Kraken, Coinbase, and Gate.io were the main destinations of miners' ETH transferred after the merge event.
The images below depict the major financial market events that occurred in September that taken from forexfactory.
In September 2022, there were more events against the rising price, and all of them could accelerate the falling price and bear market. The most important of them was the FOMC statement, which led to the Federal Reserve's statement of interest rate, which directly affected the markets.
Thus, I believe that these occurrences, rather than the merge event, have had a greater impact on the conduct of miners.
:telescope: Findings:
In the first table total count of swaps transactions from/To ETH by all swappers and miners after the merge event are shown.
As can be seen more than 55% of users swapped their ETH to other assets after the merge, 44.8% of them swapped from other assets to ETH and less than 1% of swappers were wallets miner address.
Also, on the next table total count of transfer ETH transactions To/From cexs(central exchanges) by all users and miners after the merge event are shown.
As can be seen more than 62% of users transferred their ETH to cexs after the merge, 36.7% of them transferred from cexs and less than 1% of transferrers were wallets miner address.
:telescope: Findings:
Here we illustrate the September as of the merge event month of cexs user behavior.
There was little difference between the number of ETH transfers to cexs before and after the merge, as depicted by the charts.
On September 14th, the day before the merging event, a significant amount of ETH was sent to cexs, and on September 15th, the day of the merge, a significant amount of ETH was sent from cexs.
