Not Your Keys

Did bridge activity spike over the last 7 days? If so, to what ecosystems?

Introduction

Axelar

Axelar provides a decentralized network and tools that help connect dApp builders with multiple blockchain ecosystems, applications, and users for frictionless cross-chain communication. Axelar consists of a protocol suite, tools, and APIs, designed to break down the barriers to cross-chain communication. Powered by a decentralized open network of validators; anyone can join the network, use it, and build on it.

The Axelar network makes cross-chain communication as simple as using HTTP/HTTPS protocols on the web. Platform developers can plug-in their blockchains to other ecosystems, and application builders can leverage a simple protocol and API to access global liquidity and communicate with the entire ecosystem. The Axelar team has deep roots in distributed systems, consensus, and cryptography. The venture is backed by Binance X, Coinbase Ventures, DCVC, Lemniscap, Collab+Currency, North Island Ventures, Divergence Ventures, Cygni Labs, and others.

AXL is the native utility token that powers the Axelar network. It's chain-agnostic, so its ERC-20 representations will live on all connected chains, including Ethereum. The wAXL ticker is recommended to be used for the ERC-20 representation.

Axelar network offers the following advantages:

For blockchain platform builders: Ability to easily plug-in their blockchains to all other blockchain ecosystems. Only a threshold account needs to be set up on the chain to plug into the network.
For dapps builders: Application builders can host their dapps anywhere, lock, unlock, transfer assets, and communicate with applications on any other chain via CTP API.
For users: Users can interact with all applications across the ecosystem directly from their wallets.

Methodology

from axelar.core.fact_transfers
from ethereum.core.ez_eth_transfers
from axelar.core.fact_msg_attributes

case
  when date &gt;= '2022-11-07' then 'After Collapsing'
  else 'Before Collapsing'

 sum(amount/pow(10, decimal)) as total_usd_amount,
  sum(total_usd_amount) over (order by date) as cumulative_usd_amount,
  count(distinct(sender)) as total_wallet,
  sum(total_wallet) over (order by date) as cumulative_wallet,
  count(distinct(tx_id)) as total_transaction,
  sum(total_transaction) over (order by date) as cumulative__transaction,
  total_transaction/total_wallet as avg_transaction,
  total_usd_amount/total_transaction as avg_usd_amount

Sources

https://moonbeam.network/community/projects/axelar/#:\~:text=Axelar provides a decentralized network,barriers to cross-chain communication.

Conclusion

The Total USD Volume Before collapsing was about 8.8M and the total USD Volume After collapsing was almost 39M.
The total number of wallet before collapsing was 2350 and the total number of wallet after collapsing was 4580.
The total number of transaction before collapsing was about 7.81K and the total number of transaction after collapsing was 17.8K.
The total inflow before collapsing was about 3.8B and the total inflow after collapsing was about 2.4B.
The total outflow before collapsing was about 4.9B and the total outflow after collapsing was about 3.3B.
0x98c3d3183c4b8a650614ad179a1a98be0a8d6b8e with 2175 transactions was the top first wallet from FTX to Ethereum and 0xbe385b59931c7fc144420f6c707027d4c2d37a81 with about 318M volume in total was in the first place.
Before Collapsing:

The highest number of Transaction was on Osmosis with 2671 transaction.
The most volume was related to Ethereum with about 10.11M.

After Collapsing

The highest number of Transaction was on Osmosis with 6036 transaction
The most volume was related to Ethereum with about 42.95M.

Twitter : hadi3_bgh

Discord : hadiseb#1688

The Total USD Volume Before collapsing was about 8.8M and consisted of 18.5%.
The Total USD Volume After collapsing was almost 39M and consisted of 81.5%.
The most USD amount before collapsing was about 2.6M on November 1st and November 4th.
The least USD amount before collapsing was about 0.97M on November 6th.
The most USD amount after collapsing was about 9M on November 9th.
The least USD amount after collapsing was about 1.18M on November 17th.
The highest average of USD amount before collapsing was about 1906 on November 1st.
The lowest average of USD amount before collapsing was about 722.5 on November 6th.
The highest average of USD amount after collapsing was about 3219 on November 9th.
The lowest average of USD amount after collapsing was about 1221 on November 15th.
==The total USD volume after collapsing was more than before collapsing.==

The total number of wallet before collapsing was 2350 and consisted of 31.6%.
The total number of wallet after collapsing was 4580 and consisted of 68.4%.
The highest number of total wallet before collapsing was 622 on November 4th.
In the second place, The highest number of total wallet before collapsing was 573 on November 6th.
The lowest number of total wallet before collapsing was 406 on November 2nd.
The highest number of total wallet after collapsing was 949 on November 9th.
In the second place, The highest number of total wallet after collapsing was 853 on November 8th.
The lowest number of total wallet after collapsing was 451 on November 12th.
==The total wallet after collapsing was more than before collapsing.==

The total number of transaction before collapsing was about 7.81K and consisted of 30.8%.
The total number of transaction after collapsing was 17.8K and consisted of 69.2%.
The highest number of total transaction before collapsing was 1673 on November 4th.
In the second place, The highest number of total transaction before collapsing was 1605 on November 5th.
The lowest number of total transaction before collapsing was 1014 on November 2nd.
The highest number of total transaction after collapsing was 2813 on November 9th.
In the second place, The highest number of total transaction after collapsing was 2035 on November 8th.
The lowest number of total transaction after collapsing was 1023 on November 12th.
==The total transaction after collapsing was more than before collapsing.==

Axelar Network: Enabling Secure Cross-Chain Communication For Web3

Axelar provides Web3 users with secure cross-chain communication. With a single click, dApps users can interact with any asset or application on any chain.

In a nutshell, the Axelar network is a blockchain that connects other blockchains to enable global Web3 interoperability. The network is secured by Proof-of-Stake consensus, and permissionless protocols are used for message translation and routing. Axelar has been dubbed the “Stripe of Web3.”

Axelar includes:

A collection of software development kits (SDKs) and application programming interfaces (APIs).
A decentralized network of validators.
Secure gateway contracts.
Consistent translation.
Routing architecture to support blockchain composability.

This allows developers to build on the platform that is best suited for their use case, in addition to having access to users, assets, and apps in every other ecosystem.

Total Inflow

Total Wallet

Total Transaction

Total USD Volume

The total inflow before collapsing was about 3.8B which consisted of 60.8%.
The total inflow after collapsing was about 2.4B which consisted of 39.2%.
The most inflow before collapsing was about 832.7M on November 1st.
The least inflow before collapsing was nearly 217M on November 5th.
The most inflow after collapsing was about 1.99B on November 7th.
The total inflow after collapsing decreased significantly after November 8th.
==The total inflow before collapsing was more than after collapsing.==

Total Outflow

The total outflow before collapsing was about 4.9B.
The total outflow after collapsing was about 3.3B.
The most outflow before collapsing was about 1.37B on November 6th.
In the second place, The most outflow before collapsing was almost 1B on November 1st.
The least outflow before collapsing was about 493.3M on November 5th.
The most outflow after collapsing was about 2.38B on November 7th.
In the second place, The most outflow after collapsing was about 732M on November 8th.
The total outflow after collapsing decreased significantly after November 8th.
==The total outflow before collapsing was more than after collapsing.==

Total Netflow

The total netflow before collapsing was about 1.13B.
The total netflow after collapsing was about 910.1M.
The lowest netflow before collapsing was about -625.5M on November 6th.
In the second place, The lowest netflow before collapsing was almost -217.2M on November 1st.
The most netflow before collapsing was about 122.5M on November 4th.
The least outflow after collapsing was about -388M on November 7th.
In the second place, The least netflow after collapsing was about -315.21M on November 8th.

\

Top Wallets From FTX to Ethereum

0x98c3d3183c4b8a650614ad179a1a98be0a8d6b8e with 2175 transactions was the top first wallet from FTX to Ethereum and consisted of 30.2%.
0x6767526a362ec6c6b1df185478e4f01506b73ff3 with 910 transactions was in the second place and consisted of 12.6%.
0xbe385b59931c7fc144420f6c707027d4c2d37a81 with about 318M volume in total was in the first place and consisted of 88.8%.
0xcd6cf78b351d82c8355f14c6af62f3751cdaaffe with 20.35M volume in total was in the second place and consisted of 5.68%.

Per destination

Number of Transaction Before Collapsing

The highest number of Transaction was on Osmosis with 2671 transaction and consisted of 36.8%.
Ethereum with 2076 transactions was in the second place, and consisted of 28.6%.
The highest number of transaction on Osmosis was 670 on November 5th.
The lowest number of transaction on Osmosis was 236 on November 1st.
The highest number of transaction on Ethereum was 436 on November 5th.
The lowest number of transaction on Ethereum was 225 on November 2nd.

Total Volume Before Collapsing

The most volume was related to Ethereum with about 10.11M and consisted of 75.9%.
After that, Polygon with 930.7K was in the second place and consisted of 6.98%.
The highest Ethereum Amount was about 3.8M on November 1st.
The highest Ethereum Amount was about 755.2K on November 3rd.
The highest Polygon Amount was about 278.4K on November 4th.
The highest Polygon Amount was about 75.8K on November 2nd.

\

Number of Transaction After Collapsing

The highest number of Transaction was on Osmosis with 6036 transaction and consisted of 30.1%.
Ethereum with 5443 transactions was in the second place, and consisted of 27.2%.
The highest number of transaction on Osmosis was 749 on November 8th.
The lowest number of transaction on Osmosis was 361 on November 12th.
The highest number of transaction on Ethereum was 812 on November 9th.
The lowest number of transaction on Ethereum was 344 on November 15th.

As the data of November 18th was not completed, I have ignored this day

Total Volume After Collapsing

The most volume was related to Ethereum with about 42.95M and consisted of 81.3%.
After that, Polygon with 2.55M was in the second place and consisted of 5.6%.
The highest Ethereum Amount was about 11.32M on November 9th.
The highest Ethereum Amount was almost 1M on November 15th.
The highest Polygon Amount was about 861K on November 8th.
The highest Polygon Amount was about 90.6K on November 15th.

\

Break down per Destination

The highest number of transaction was below 1$ with about 83.8%.
The highest number of transaction below 1$ was on Osmosis with 8898 Transactions.
After that, In the second place ,The highest number of transaction below 1$ was on Ethereum with 7667 Transactions.
The most volume was more than 10000$ with about 82.2%.
The most volume more than 10000$ was on on Ethereum with about 48.4M.
After that, In the second place, The most volume more than 10000$ was on on Osmosis with about 1.91M.

flipside

flipside

Not Your Keys

Axelar

Axelar Network: Enabling Secure Cross-Chain Communication For Web3