Question

• Have you seen an uptick in the amount of $RUNE being upgraded recently? (Look at both the $RUNE volume + number of wallets.)
• What is the trend over time + also how much is ETH vs BNB?

Data Analysis

The chart below shows the value of $RUNE upgraded and the number of addresses that have upgraded $RUNE from ETH or BNB to the native chain.(from begining of 2022 until now)

• The maximum number of addresses that have upgraded their $RUNE in one day is related to May 11, 2022. The number of addresses on this day is 332 addresses.

• According to the chart above, since the beginning of 2022, There are generally 3 uptick in the volume of the upgraded RUNE. These dates in order of volume are:

(1). Jan 3, 2022: ~198.3M $RUNE ---> 55 Addresses

On this day, almost all $ RUNE upgrades belong to 4 addresses. These addresses and the $RUNE volume upgraded by them are shown in the chart below.

(2). Jun 14, 2022: ~54.5M $RUNE (Recently) ---> 101 Addresses

On this day, out of 101 addresses, one address alone has upgraded 54,191,447 $RUNE.

According to the chart below, since the beginning of 2022, 59 addresses have daily upgraded their assets from the BNB chain to the native chain. This value is equal to 8 addresses per day for the ETH chain.

(3). Mar 27, 2022: ~6M $RUNE ---> 209 Addresses

On this day, almost all $RUNE upgrades are done by three addresses. Unlike the previous two cases where the main upgrades were all from the BNB chain, here one of the top addresses has upgraded $RUNE from the ETH chain to THORChain.

Overall, since the beginning of 2022, 97.5% of the $RUNE upgrade has been done from the BNB chain.

The chart below shows the volume of $RUNE upgraded in monthly timeframe.

• The maximum upgraded RUNE is related to:
  • From BNB chain: January 2022 ---> 206M $RUNE
  • From ETH chain: March 2022 ---> 3.2M $RUNE
• The maximum number of upgraders is related to March 2022.(3,512 addresses)

On the other hand, the average daily volume of RUNE upgraded from the BNB chain to the native chain is 1.65M RUNE. This value is equal to 45.5k $RUNE per day for the Ethereum chain.

Methodology

• This dashboard uses the flipside_prod_db.thorchain.upgrades table to extract the data.
• The time frame provided in this dashboard: From the beginning of 2022 until now.

Result

• The source of most of the RUNE values ​​upgraded to the native chain was the BNB chain.

• Since the beginning of 2022, we have seen three uptick in the volume of RUNE upgraded to the native chain.

• In each of these increases in RUNE volume upgraded to the native chain, a small number of addresses played a major role.