What is MultiChain?

MultiChain is a leading cross-chain Router for web3, providing infrastructure for seamless interactions between diverse blockchains. Originally known as Anyswap, it was developed to address the need for fast, secure, and reliable exchange of value, data, and control across different chains. MultiChain's innovative solutions enable interoperability among various blockchains, including Ethereum-like chains, Layer 2 chains, Parachains, Bitcoin-type chains, and COSMOS chains. With 26 integrated chains, daily volumes exceeding $100 million, and a Total Value Locked of over $5 billion, MultiChain is widely recognized for its popularity and security. It operates as an open-source protocol, ensuring transparency, decentralization, and trustlessness through code-controlled cross-chain services.

Context

Multichain, a well-known cross-chain bridge protocol, has recently faced a major setback with the sudden disappearance of its CEO. This unexpected event has resulted in the suspension of Multichain's cross-chain bridge operations, causing a liquidity crisis within the platform. The absence of the CEO has created uncertainty about the future of Multichain, leaving users and investors seeking answers and solutions to address the liquidity challenges. Concerns have been raised regarding the platform's governance and management practices, leading the community to eagerly await updates on the situation. As a direct consequence of these events, the price of MULTI, Multichain's native token, has experienced a significant decline of approximately 66% in just a few days.

This dashboard aims to provide a comprehensive overview of the current state of the Multichain Token and its potential impact on the market.

Methodology

This dashboard aims to analyze the relationship between the price of the MULTI token and related activities.

To begin, we focus on tracking the price of MULTI over time and its changes. In order to provide a basis for comparison, we also consider the price movements of BTC and ETH.

Next, we provide an overview of activities specifically associated with the MULTI token, such as transfer transactions.

Finally, we examine the correlation between price movements and token activities to understand how they influence each other.

To generate the data for this dashboard, we utilize Flipside's Ethereum.core dataset, which offers comprehensive insights into the Ethereum ecosystem.