• Visualize transaction fees on Polygon since July 1, 2022.

    • Compare these to fees on Ethereum over the same time period - are they correlated? Do they diverge significantly at any points? Provide analysis as to why you think this might be.

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    Introduction and Methodology

    • Polygon is a second layer of the Ethereum network created in order to make easier the blockchain network, allowing speedy transactions and work as a low-cost ecosystem. Matic is the cryptocurrency of Polygon, which enables governance, pays fees and can be staked.

    • We’ll going to look at how the transaction fees are doing since July 1, 2022 and compare it with how Ethereum is doing in the same period.

    • Using Flipside Data Bank Tables:

      • Polygon.core.fact_transactions : To get data about Polygon transactions and Matic fees.
      • Polygon.core.ez_matic_transfers: To get data about the price of Matic per hour.
      • Ethereum.core.ez_dex_swaps: To get data and calculate the average Matic Price in USD.
      • Ethereum.core.fact_hourly_token_prices: To get data about the price of ETH per hour.
      • Ethereum.core.fact_transactions: To get data about Ethereum transactions and ETH fees.
    • The next blocks where excluded in Ethereum transaction table, due to faulty transactions that made their fees impossible to sum :

      1- 0x1d223338097dec1ec637ee7ad5294bce448197868e4470664dd612f1488529b2

      2- 0xcd9efacc45dc0eb85a7b3c889a46a4b8391ed3ce3c118de262146b8de7dc67cb

      3- 0xdd336e8e5a354b5198d7b1e6a4099096a48c0309e9659d60b4b249b583a2f6ce

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    Analysis

    • We can see some correlation between ETH and Matic, although ETH has a strongest volume both have valley in July 2,3,7,9
    • The valley in Ethereum on Jul 7 doesn’t seem by failed transactions, aside from that both have similar activity at the start of the month.
    • In this graphic we can see the strongest correlation between Polygon and Ethereum, both prices are in the uptrend.

    Summary

    • They are correlated, the strongest correlation seems in the price, both are this month in an uptrend.
    • They diverger in the Activity, with a strong valley in ethereum which Polygon Doesn’t have.
    • Their fees are similar, with valleys in the same dates.