ETH vs Sol
Comparison between the solana and Ethereum native Tokens
Overview
what we aim to provide here :
-
Price:
- compare the USD price
- compare their price against BTC
-
transfers
- compare ETH and SOL transferred amount over Time
- compare ETH and SOL transferred amount in USD over Time
- top addresses that collected Sol and ETH from transfers
- ETH and SOL amount that moved out from CEX
- ETH and SOL amount that moved out from CEX over Time
-
swap
- Top Tokens that swapped to or from ETH and SOL
-
Staking
- ETH and SOL staking amount over time
-
Holders demographic
Introduction
ETH, the main token of the Ethereum blockchain, is the world's second-largest digital currency in terms of market capitalization. Like Bitcoin, ETH also allows you to send funds directly to another person without the need for an intermediary.
In general, Ether tokens can be used for:
- Payment using Ethereum
- Participation in decentralized programs
- Transaction fees
SOL token as Solana chain main Token is used to pay all fees of smart contracts and transactions. The SOL token has the ability to be staked and thus contributes to the security of the network. Also, the person who staked the token can receive a percentage of the inflation as a reward. This token is also used in the on-chain governance process.
Method
I used ethereum.core.fact_hourly_token_prices table for collect daily price of ETH and price of SOL Token calculated with help of solana.core.fact_swaps table.
With help of solana.core.fact_transfers and ethereum.core.ez_eth_transfers tables for Transfers stats and for swap stats I used solana.core.fact_swaps and ethereum.core.ez_dex_swaps tables for swap stats.
For ETH staking amount I just considered ETH Tokens that staked in lido platform and for solana i
considered the main staking program + marinde platform.
i just considered the last year or 365 days as our Time duration for all Analyzes here except the holders stats
my observation will be base on weekly Timeframe except the but you change the timeframe on the above of the dashboard
rules for demography (all number are in USD):
when BALANCE <= 10 then 'shrimp'
when BALANCE > 10 and BALANCE <= 100 then 'crab'
when BALANCE > 100 and BALANCE <= 1000 then 'Octopus'
when BALANCE > 1000 and BALANCE <= 10000 then 'Fish'
when BALANCE > 10000 and BALANCE <= 100000 then 'dolphin'
when BALANCE > 100000 and BALANCE <= 1000000 then 'shark'
when BALANCE > 1000000 then 'whales'
Observations
HERE we have transfer Volume of Amount For Both tokens on their chains, we can see that the highest Amount for ETH was on Jul 13 week with 52.6M ETH and For SOL the Highest was on May 9 week with 96.07M SOL, we can not compare these numbers because the price and the value of tokens are different.
But if We considered the USD Value for them, we can see clearly that transfer Amount are very higher than in ETH compare To SOL. In transfer events number the whole story change and SOL has the higher amount almost All weeks
Observations
When we observe the USD price of both tokens, we do not see a very special difference in terms of trend, both have been in a strong downward trend for a long time, although since the middle of June, this downward trend has calmed down and turned into a sideways trend.
The first prices we can see for both tokens, sol and ETH are 4.3K for ETH and 209 USD for SOL and the last prices are 1.3K For ETH and 30 USD for SOL that mean almost 67% decreasing for ETH Token and For sol this number is higher which is almost 85%, from this number we can easily conclude that SOL decreased much more than ETH.
From late July to end of March we can see some recovery in Prices, ETH price increased from 2.4K to 3.4K USD which mean 41% of increasing and For sol we can see increasing from 85 to 121 USD which mean 42% of increasing in Sol prices, we can see that both of ETH and Sol increased
by the same percentage.
One of the most beautiful measures for the upward power of the price of a token is to observe the behavior of its Bitcoin pair, although The price of both BTC pairs experienced a sharp decline from the beginning but unlike SOL we can see very sharp recovery in ETH from Jun 13 to Sep 5, almost 55% in ETH price recovery.
Conclusion
- from Nov 29, 2021 week until Sep 26, 2022 week there was almost 67% decreasing for ETH Token and For sol this number is higher which is almost 85%
- Unlike SOL, we can see very sharp recovery in ETH/BTC price from Jun 13 to Sep 5, almost 55% in ETH price recovery.
- Top addresses or platforms that collected the most ETHs from transfers belongs to uniswap with 10.81M ETH and For SOL, we have
9WzDXwBbmkg8ZTbNMqUxvQRAyrZzDsGYdLVL9zYtAWWM
AS the Top address with 14.69M - Binance is the Top CEX base on ETH Moved out amount with 77.74M ETH and for sol FTX is the Top CEX with 152.79M SOL
- In the last weeks we can see some high moved out amount for ETH unlike SOL
- USDC and USDT are the popular tokens that users swapped to and from SOL and ETH
- the highest ETH staking amount was on Mar 14 with 461.38K ETH and for sol the highest was on Aug 15 with 64.63M SOL
- staking amount of ETH was very affected by merge unlike sol which there was no special news that had influence on the staking amounts
- share of shrimps in SOl is higher which is 91.5% of ALL holders but in ETH the shrimps have lower share than sol which is 69.9%.
Observations
we can see high staking amount of ETH in March and April month which the highest amount was on Mar 14 with 461.38K ETH but from the middle of May the staking amount decreases and low amount of ETH staking recorded
in SOl section We see almost a stable trend in the stacked values except the outlier data which was on Aug 15 with 64.63M SOL, this number is very high compare to the other weeks amounts
we can see clearly that staking amount of ETH was very affected by merge unlike sol which there was no special news like merge that had influence on the staking amounts
Observations
here we listed the Addresses or platforms that collected SOL and ETH more than others, for ETH the Top addresses or platforms belongs to uniswap with 10.81M ETH which is almost 100% higher than the second rank which is Aave.
For SOL, we have 9WzDXwBbmkg8ZTbNMqUxvQRAyrZzDsGYdLVL9zYtAWWM
AS the Top address with 14.69M SOL little higher than the second rank which is 9UDobra5MHaZ8wsLNYB3i2sLS3AU6WyYocr9QZxw7U6w
with 13M SOL
Observations
in the last 365 days we can see Binance as the Top CEX base on ETH Moved out amount with 77.74M ETH almost 400% higher than the second rank which is FTX with 50.6M ETH .
For sol, we have FTX as the Top CEX with 152.79M SOL almost 50% higher than the second rank which is Coinbase with 101.3M SOL.
From the above information we can conclude that FTX play an important role For Sol.
The highest Moved out amount for ETH was on Jul 13 week with almost 7M ETH which most of them were from binance with 3M ETH.
For sol the highest amount was on Aug 15 week with almost 20M Sol which most of them were from Coinbase.
In the last weeks we can see some high moved out amount for ETH unlike SOL
Observations
for Both ETH and SOL most holders are shrimp, but their share in SOL is higher which is 91.5% of ALL holders but in ETH the shrimps have lower share than sol which is 69.9%. There are 8.3K holders that are whale or holds more than 1M USD worth of ETH, this number in sol is very lower which there are only 150 whales among sol holders