New Year, New Activity?

    What is the Question?🚨


    The holidays and New Year are often chaotic in the crypto and DEFI space, as users make a spree of new transactions and wallets as they receive (and give) some cash and coins as holiday gifts.

    How has this activity impacted the crypto and DEFI ecosystems? Are users creating new wallets or buying tokens with their newfound holiday wealth? Are they staking all those new tokens once they get them? Or are they selling tokens to pay for their own gifts and holiday travel?

    Create a dashboard that captures activity across metrics such as new user onboarding, token prices, NFT prices, or any other notable trends or events. Feel free to examine multiple chains or ecosystems in your dashboard.

    Analyzed Topics:

    1. Comparison of Daily & Overall Transactions, Active Users and New Users Divided by Chains
    2. Price Comparison
    3. Staking Activity Comparison
    4. Swapping Activity Comparison

    Introduction🚩


    What is FLOW?

    Flow is a blockchain platform that originally was designed for gaming purposes, but has expanded since its launch in 2020. The flow blockchain enables fast, low-cost transactions and supports smart contracts. It powers blockchain applications including NBA Top Shot, a non-fungible token (NFT) offering.

    More Info

    What is Solana?

    Solana is a blockchain platform designed to host decentralized, scalable applications. Founded in 2017, it is an open-source project currently run by Solana Foundation based in Geneva, while the blockchain was built by San Francisco-based Solana Labs.

    More Info

    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.

    More Info

    Method⚡


    In this dashboard, i tried to show some metrics for Solana, FLOW and Osmosis chains (L1s) to define their activity during the holidays after the christmas day.

    For this matter i used ==Solana.core== database for Solana stats, ==FLOW.core== database for FLOW stats and ==Osmosis.core== database for Osmosis stats provided by Flipsidecrypto.

    I compared these chains on Overall and daily stats such as: all transactions and users, staking activity, swapping activity and their price movement and analyzed all of this metrics since December 24th 2022 until today 2023-01-11 ~ almost 17 days.

    Also i only considered successful transactions.

    Dashboard made on ==2023-01-11==

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    Findings👀

    • In this section, we see the comparison of FLOW, Solana and Osmosis chains in terms of number of transactions, number of new users and active users in overall and on a daily basis since Christmas 2023(December 24th 2022).
    • We see that Solana recently has recorded much bigger activity than the other 2 because it is older and more popular compared with FLOW and Osmosis.
    • Moreover, Solana stats started to increase slowly after the beginning of new year and recorded the highest activity on Jan 3rd in terms of new users and Jan 5th in terms of transactions and active users.
    • Over 2M recorded over 300M transactions on Solana in past 2 weeks since christmas. These numbers are so huge and impressive.
    • FLOW did better than Osmosis in terms of these metrics that i analyzed and took place in the second following Solana.
    • The most impactful reason that caused solana to record these huge stats was the launch of $Bonk token and its airdrop.

    2. Price Comparison

    1. Comparison of Daily & Overall Transactions, Active Users and New Users Divided by Chains

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    Findings👀

    • FLOW and OSMO prices has moved pretty much the same during this timeframe since christmas day but SOL token, Solana’s native token price has increased massively and almost got doubled in past 2 weeks because of the $Bonk coin launch and the hype that it caused on Solana ecosystem recently.

    3. Staking Activity Comparison

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    Findings👀

    • Unlike previous sections, solana didnt perform very well in staking activity and Osmosis is in the lead here with over 80K staking actions that recorded by over 50K users since christmas day.
    • Although Osmosis is in the lead in terms of staking actions and users, but FLOW has recorded the highest USD volume of swaps among these 3 chains with over 20M Volume in USD.
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    Findings👀

    • Stake and Unstake actions belong to Solana and FLOW and delegate, redelegate and undelegate belong to Osmosis.
    • Stake and Delegate has recorded some serious moves on several days and they caused by FLOW and Osmosis because Solana didnt perform very well as we saw in the last section.

    4. Swapping Activity Comparison

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    Findings👀

    • In this section, i showed swap activity for these 3 chains in past 2 weeks. Again we see that Solana is outperforming others on both daily and total swaps and swappers and swapping activity on Solana has increased after the beginning of 2022.
    • Solana is in the first in terms of swap activity since December 24th followed by Osmosis in the second place. FLOW is like Solana on Staking activity, it didnt recorded anything serious in recent days.
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    Findings👀

    • Above, you see top 5 most swapped tokens on these 3 chains since Christmas day.
    • TeleportedTetherToken, OSMO and USDC are the most swapped tokens on FLOW, Osmosis and Solana respectively.
    • All 3 chains that i compared here, have their native token in top 5 most swapped tokens but for Osmosis, its native token is in the first place with almost 140K swaps.

    Conclusion💡


    • In all the parts that i compared these 3 chains together, except staking activity, Solana completely outperformed the other 2 in recent days since Christmas and the most impactful reason for this matter was the $Bonk coin launch and the hype that it caused on Solana ecosystem after the beginning of new year.
    • Osmosis and FLOW has performed almost the same and even their price has moved together and both increased over 30% after the start of 2023.
    • Users mostly unstaked their tokens after the beginning of 2023 to do something else with their money.
    • Solana is much more popular and known than the other 2 and we can confirm this matter with this analysis.

    Author: Sbhn_NP

    Discord : Sbhn_NP#8717

    Twitter : Sbhn_np

    Instagram : Sbhn_NP

    Special thanks to Ali3N and jackguy for some inspiration.

    Thanks for your time!