What is the Question?🚨

On October 28th, 2022 Binance became the first CEX to list spot trading for $OSMO. Abruptly, OSMO price shot up around 32%. How did this news impact trading on Osmosis. Analyze OSMO trading activity on October 28th and this past week vs. daily & weekly averages. This analysis should occur against two time periods: the 60-day averages & the 60-days prior to the May Terra collapse. Did any other tokens see a spike in trading on Osmosis?

Further, can you trace OSMO liquidity flowing into Binance in the last few days? Centralized exchange listings of OSMO are permissionless so liquidity on Binance should be funded through purchases on Osmosis.

Analyzed Topics:

1. Overall Osmosis Ecosystem Stats
2. Osmosis Swapping Stats
3. Activity on 28th October (Listing Day)
4. Currencies
5. OSMO liquidity flowing into Binance
6. Top 5 Senders To & Receivers From Binance

Introduction🚩

What is Osmosis?

Osmosis is a DEX protocol, which means it uses smart contracts to determine the price of digital assets, to produce liquidity via a peer-to-peer (P2P) methodology, and to exact trades between users. This approach to an exchange platform is known as an AMM — a DEX protocol that prices crypto assets in liquidity pools.

What is Binance and how it works?

Like other crypto exchanges, Binance offers services around the trading, listing, fundraising, and de-listing or withdrawal of cryptocurrencies. Cryptocurrency enthusiasts willing to launch their tokens can use Binance for raising funds through initial coin offerings (ICOs).

OSMO listed on Binance:

During recent week, Binance announced that it will list Osmosis ($OSMO) in the Innovation Zone, a dedicated trading zone for new, innovative tokens that might be more susceptible to volatility than larger, established crypto assets. Binance also announced that it will open trading for OSMO/BTC, OSMO/BUSD and OSMO/USDT spot trading pairs at 10:00 UTC on October 28th. Users could start depositing $OSMO earlier. Withdrawals for $OSMO will open at 10:00 UTC on October 29th.

Following the announcement, the price of Osmosis increased from $1.313 to $1.684 in a matter of roughly 30 minutes. The Osmosis crypto token went on to reach a 4-month high of $1.729 in subsequent hours, for a total daily change of more than +30%.

Method⚡

On this dashboard, i take a look at OSMO getting listed on Binance and its price spike on Oct 28th and analyze its trading activity in 4 timespans,

1. ==60 Days Prior to May Terra Collapse== (2022-03-12 ~ 2022-05-12)

2. ==60 Days Before listing on Binance== (2022-08-21 ~ 2022-10-21)

3. ==Around Binance Listing== (2022-10-21 ~ 2022-10-31)

4. ==Other days== (Days Between Terra Collapse and 60 Days before OSMO listing on Binance)

   \

I extracted the data from ==Osmosis.core== database provided by Flipsidecrypto and used multiple tables from it: ==“osmosis.core.fact_swaps”== , ==“osmosis.core.dim_prices”== , ==“osmosis.core.fact_transfers”== and ==“osmosis.core.dim_labels”==.

Also i only considered successful Transactions with tx_status = 'SUCCEEDED'

I set all my queries to update daily after i published this dashboard, so whenever you are seeing this dashboard, the data has automatically updated.

This dashboard made on ==2022-11-01.==

Findings👀

• In these charts, i showed overall and daily activity on Osmosis zone and divided them with 4 timespans that i mentioned earlier in Method.
• OSMO transactions, active users and new users were so much more in prior to May Terra Collapse timespan than other times.
• Daily OSMO transactions recorded an all-time high on March 22th with 626K number of transactions and started to decrease after that day.
• After Terra’s collapse on May 11th & 12th, OSMO stats started to decrease faster and users panic sold because of that incident.
• OSMO number of transactions and active users recorded a huge spike on Oct 28th because of listing in Binance Exchange and OSMO had a huge spike itself on its price too .
• OSMO reached from 1.29$ to 1.58$ in just 1 day because of listing in Binance.
• There was a strange drop to activities on almost all of the activities on June 8 2022 this must be due to a exploit found by the Devs which came down to closing the DEX for further investigation.

OSMO Price

1. Overall Osmosis Ecosystem Stats

2. Osmosis Swapping Stats

Findings👀

• In these charts, i tried to show OSMO daily swapping activity in multiple timespans and share of them.
• As we see, OSMO swaps had a huge spike on Oct 28th after a long time and almost 21K swappers recorded over 74K swaps in that day.
• Number of new traders that joined osmosis zone to trade OSMO also increased dramatically from 364 to 1690 on Oct 28th.
• In this section, Terra collapse timespan had the most number of active and new swappers but it didnt have the most number of swaps, the days between Terra collapse and 60 days before binance listing had the most number of swaps (over 4M swaps in almost 100 days).

3. Activity on 28th October (Listing Day)

Findings👀

• In these section, i showed the hourly OSMO swapping activity on the day that it got listed on Binance exchange (Oct 28th).
• OSMO swapping activity such as number of swaps, swappers and swap volume in USD and also average swap volume in USD , recorded a huge spike on 4:00 AM, it seems like it got listed on Binance on 4 AM.
• Over 1300 swappers almost 4500 swaps on 4 AM and most of the swaps were FROM OSMO and most of the swappers were TO OSMO.
• Although number of Swap TO OSMO swappers were more than Swap FROM OSMO, but the number of Swap TO OSMO swaps were less than Swap FROM OSMO.
• In that day, 8800 Swappers recorded 18.6K swap FROM OSMO and 9200 Swappers recorded 14.1K swap TO OSMO.
• On Oct 28th, Swappers spent more volume in USD for swapping to OSMO than Swapping from it.

4. Currencies

Findings👀

• In these charts i showed daily most swapped tokens since 1 week before the binance listing and focused on Oct 28th (Listing Day).
• As we see, some tokens besides OSMO, like ATOM and USDC.axl also recorded a spike on Oct 28th on both number of swaps and swappers.

5. OSMO liquidity flowing into Binance

Findings👀

• In these charts im showing the liquidity flowing of OSMO on binance around the binance lisiting day (Oct 28th).
• As we observe, there were over 5K inflow to Binance transactions on Oct 28th and almost 16M volume in USD inflowd to binance exchange on the listing day.
• Since the listing day until now, over 6700 inflow transactions with over 20M volume in USD inflowd to binance.

6. Top 5 Senders To & Receivers From Binance

Findings👀

• In these pie charts im showing top 5 OSMO receivers from and senders to Binance in terms of OSMO Volume.
• ==“osmo1ych3kkm5cw57w5kml5vvrmzueezvyrlpcfsrhc”== wallet address is the biggest OSMO receiver from Binance, this address received over 1M OSMO tokens from binance over time.
• ==“osmo15x7y2z6x8kylt6qwefxzcwxnlfhp95syfcnl90”== wallet address is the biggest OSMO senders to Binance, this adderss sent over 2.5M OSMO tokens to Binance over time, this address accounted over 50% of top 5 OSMO senders to binance with a mindblowing number of OSMO tokens that sent to binance.
• These addresses that i mentioned are both in top 5 senders and receivers, it seems they are OSMO whales or market makers.

Conclusion💡

• OSMO price recorded a huge spike on Oct 28th after got listed on Binance CEX and went from 1.29$ to 1.58$ in just one day (Over 20%).

• Number of transactions and swaps of OSMO also saw a huge spike on that day too.

• There was a strange drop to activities on almost all of the activities on June 8 2022 this must be due to a exploit found by the Devs which came down to closing the DEX for further investigation.

• OSMO transactions, active users and new users were so much more in prior to May Terra Collapse timespan than other times.

• It seems like OSMO got listed on Binance around 4 AM on Oct 28th because of he spike on all OSMO stats in that hour.

• Although number of Swap TO OSMO swappers were more than Swap FROM OSMO, but the number of Swap TO OSMO swaps were less than Swap

  FROM OSMO.

• On Oct 28th, Swappers spent more volume in USD for swapping to OSMO than Swapping from it.

• Besides OSMO, ATOM and USDC.axl stats also spiked on Oct 28th after OSMO got listed on Binance.

• Since the listing day until now, over 6700 inflow transactions with over 20M volume in USD inflowd to binance.

• ==“osmo1ych3kkm5cw57w5kml5vvrmzueezvyrlpcfsrhc”== wallet address is the biggest OSMO receiver from Binance, this address received over 1M OSMO tokens from binance over time.

• ==“osmo15x7y2z6x8kylt6qwefxzcwxnlfhp95syfcnl90”== wallet address is the biggest OSMO senders to Binance, this adderss sent over 2.5M OSMO tokens to Binance over time.

Author: Sbhn_NP

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Thanks for your time!