Objectives

in this dashboard i want to examine the drop in price of ETH and after that compare that with another tokens.

at the first there is an introduction to getting to know with subject, then there is a methodology that show you what i want to do at last there some figures and observations for analyzing the subject.

Methodology

in this dashboard the following methods are used :

• comparison of changing price of ETH with another tokens
• effect of ETH changing price on swap count and swap volume
• effect of ETH changing price on swap to DAI and DAI to ETH
• analyze the transfer from and to FTX
• effect of ETH changing price on count of miners
• how the price of tokens can recover?

in this dashboard the following methods are used:

1. ethereum.core.fact_hourly_token_prices
2. solana.core.fact_token_prices_hourly
3. flow.core.fact_prices
4. ethereum.core.ez_dex_swaps
5. ethereum.core.fact_blocks

Introduction

• what is Ethereum?

  Ethereum is a decentralized global software platform powered by blockchain technology. It is most commonly known for its native cryptocurrency, ether (ETH).

  Ethereum can be used by anyone to create any secured digital technology. It has a token designed to pay for work done supporting the blockchain, but participants can also use it to pay for tangible goods and services if accepted. Ethereum is designed to be scalable, programmable, secure, and decentralized. It is the blockchain of choice for developers and enterprises creating technology based upon it to change how many industries operate and how we go about our daily lives.[source]

  \

• what is history of Ethereum?

  Ethereum wasn’t always the second-largest blockchain project in the world. Vitalik Buterin actually co-created the project to answer for Bitcoin’s shortcomings. Buterin published the Ethereum white paper in 2013, detailing smart contracts — automated immutable “if-then” statements — enabling the development of decentralized applications. While DApp development already existed in the blockchain space, platforms weren’t interoperable. Buterin intended Ethereum to unify them. To him, unifying the way DApps run and interact was the only way to maintain adoption.

  Thus, Ethereum 1.0 was born. Think of it as Apple’s App Store: one space for tens of thousands of different applications, all abiding by the same ruleset. Only that ruleset is hardcoded into the network and enforced autonomously with developers able to enforce their own rules within DApps. There isn’t a central party, like with Apple changing and enforcing regulations. Instead, the power is in the hands of the people who act as a community.[source]

  \

• Why did the price of Ethereum fall?

  the FTX hacker reportedly sold over 30,000 ETH, converting a large part of the holdings into Bitcoin. Updates from PeckShieldAlert suggested that the FTX Accounts Drainer continued to swap ETH for renBTC. In the most recent update on Nov. 21, the FTX Accounts Drainer 0x8059 swapped nearly 4,999 ETH worth $5.57 million for 338.97 renBTC worth around $5.465 million.he FTX Accounts Drainer, who holds nearly $235.50 million worth of ETH, climbed to the 36th largest holder of Ethereum on Monday. The consistent ETH dumping and conversion to renBTC put significant pressure on the Ethereum spot price, which had pulled back by around 7.52%. [source]

  \

• what is interest rate?

  An interest rate tells you how high the cost of borrowing is, or high the rewards are for saving. So, if you're a borrower, the interest rate is the amount you are charged for borrowing money, shown as a percentage of the total amount of the loan.[source]

  \n

  
  
  \

Part 1 / comparison of ETH changing price with another tokens

Part 2 / effect of ETH changing price on swap count and swap volume

Observation 2

• at Nov 9,2022 there is a drop in ETH price by attention to the figures, shows swap volume from ETH to another tokens has a jump.it seems that after decreasing the price of ETH, users don’t want swap their ETH to another tokens and they hope ETH price raise up. because the swap volume of ETH to another tokens very large decreased.
• at Nov 9,2022 there is a drop in ETH price by attention to the figures, show that before that number of swaps has a jump. the number of swap does not have a stable trend.
• at Nov 8,2022 there is a jump in swap volume from other tokens to ETH, as we can see at Nov 9,2022 there is a drop in ETH price.
• at Nov 8,2022 there is a jump in number of swaps from other tokens to ETH.

Observation 3

• by attention to figures, can see that at Nov 9,2022 there is a drop in ETH price, after that 82.75M swiped from ETH to DAI. because the DAI price is stable, it seems users want to save their money by swap ETH to DAI.
• after drop in ETH price at Nov 9,2022 some of users take risk and use this drop price to store ETH because the price of ETH was dropped.

Part 3 / effect of ETH changing price on swap to DAI and DAI to ETH

Part 5 / effect of ETH changing price on count of miners

\

• Thanks for reading my dashboard, please share your insight about it with me :grinning:
• link of tweet that I share my dashboard :

Observation 5

• at Nov 9,2022 there is a drop in ETH price, by attention to figure can found that some hours after this drop the number of miner has a increase jump.
• it seems that after drop in price of ETH, miners attract to mine ETH.

Observation 1

• most price of ETH (in November) is at Nov 5,2022 that is 1638.7 after that all tokens have tow heavy drop on price, first is at Nov 7 that is so awful then is at Nov 22.

• old price of tokens(30 days ago):

  • WBTC :arrow_right: 19.57k
  • WETH :arrow_right: 1364.97
  • AAVE :arrow_right: 89.16
  • SOL :arrow_right: 29.23
  • FLOW :arrow_right: 1.51
  • CRV :arrow_right:0.91

• new price of tokens (right now)

  • WBTC :arrow_right: 16.13k
  • WETH :arrow_right: 1136.2
  • AAVE :arrow_right: 56.98
  • SOL :arrow_right: 12.54
  • FLOW :arrow_right: 1.12
  • CRV :arrow_right: 0.65

• percentage change in price of tokens ( (new_price - old_price)*100/old_price ):

  • WBTC :arrow_right: -17.55%
  • WETH :arrow_right: -16.75%
  • AAVE :arrow_right: -36.08%
  • SOL :arrow_right: -57.11%
  • FLOW :arrow_right: -26.14%
  • CRV :arrow_right: -29.09%

• minimum price of tokens occurred at Nov 22,2022,11:00 :

  • WBTC :arrow_right: 15.63k
  • WETH :arrow_right: 1085.1
  • AAVE :arrow_right: 53.38
  • SOL :arrow_right: 11.29
  • FLOW :arrow_right: 1.07
  • CRV :arrow_right: 0.43

• as we can see SOL with -57.11 % has most drop in price.

Part 4 / analyze the transfer from and to FTX

Observation 4

• at Nov 7,2022 most volume out and volume in to FTX has happened by checking the ETH price can see that three days later there is a heavy drop in ETH price.

• after Nov 11,2022 there is decreasing rate in volume in and out of FTX.

• at Nov 7,2022 most transfer out of FTX has happened.

• at Nov 7,2022 most mines Net volume to FTX has happened that is about -262.7k.

  \

Part 6/ how the price of tokens can recover?

• Higher interest rates generally mean a lower appetite for high-risk/high-return assets such as cryptocurrencies, hence we’ve seen the crypto market decline in recent months. With the stock market also reacting badly to recent rate hike and the crypto market becoming increasingly correlated to stocks, crypto could be in for a continued bearish year because of the bearish macroeconomic outlook.

• It is not only the cryptocurrency market that is falling, though. As a result of investors’ concerns that global central banks may be prepared to accept recession to help bring inflation under control, equity markets have also fallen. Since the beginning of 2022, equities, cryptocurrencies, and commodities have seen significant volatility as investors have anticipated increasing interest rates and greater energy costs. But what is in store for the remainder of the year, given that central banks across all developed nations have been raising rates at unprecedented speed and more hikes are likely?

• How Higher Interest Rates Affects the Crypto Market?

  When short-term interest rates are increased, it becomes more difficult and expensive for both individuals and companies to borrow money, which in turn reduces the amount of money available to circulate throughout the economy. Overall, the correlation between Bitcoin and the stock market is at an all-time high. This indicates that the digital asset is almost in lockstep with the S&P 500… descending together and ascending in tandem.

  According to Paddy Osborn, Managing Director/Academic Dean, at the London Academy of Trading, “Although Crypto prices have become more aligned with stock market fluctuations, crypto markets remain ultimately speculative, with many retail traders looking for the next big bubble. Higher interest rates tend to hold back crypto prices since much of this retail speculation is traded on margin and more expensive borrowing rates tend to disincentivise this speculation.”

• higher interest rates have two detrimental effects on crypto markets:

  • Investing flows into the market decline: The returns on cash (kept in savings accounts) increase when interest rates rise. In response, investors hold more cash (a liquid and low-risk asset) and fewer cryptocurrencies and other higher risk assets. This decreases investment flows into crypto markets and boosts withdrawals, exerting downward price pressure.
  • The implied valuations of cryptocurrency projects are reduced: Higher interest rates raise the discount rate applied to a cryptocurrency project’s cash flows, which decreases the project’s worth and the market’s willingness to pay.[sourec]

• \

\n

• as we can see from top image, interest rate at 2022 is increasing and by the above explanation can found that one of factor on drop of token price is that, and we can predict by decrease in interest rate the token price can increase.

  source of image